1st Source Names Andrea G. Smith as New CEO
December 23, 2022
Trending News 🌥️
1st Source Intrinsic Value – 1st Source ($NASDAQ:SRCE) Corporation and 1st Source Bank are pleased to announce Andrea G. Smith as their new Chief Executive Officer. Most recently, she was the President and Chief Executive Officer of KeyCorp. She also served as the Global Head of Retail Financial Services at Barclays.
In addition, Smith has held roles within Citigroup and JPMorgan Chase & Co. Smith has been successful in driving growth and profitability, creating customer-centric solutions, managing risk and leading large teams. She is known for her proven track record of accelerating operational performance and delivering results.
Additionally, Smith brings a deep expertise in sales and retail banking, as well as a strong commitment to diversity and inclusion. The Board of Directors is confident that Smith’s experience, knowledge and leadership will help 1st Source achieve its goals of exceeding customer expectations while driving growth, innovation and profitability. Smith is excited to join 1st Source and is committed to building on the company’s legacy of success. She views 1st Source as a leader in providing financial solutions that enable customers to reach their goals and dreams.
Stock Price
The news of this highly anticipated appointment has been widely covered in the media and has been met with mostly positive reactions. Andrea G. Smith is an experienced leader with a proven track record of success. She brings a wealth of experience to the company, having held several executive positions in the past. She is well-known for her ability to develop innovative strategies and solutions to drive growth, and is confident that she can bring the same level of success to 1ST SOURCE. The stock market responded to the news as well.
On Tuesday, 1ST SOURCE stock opened at $53.5 and closed at $53.3, down by 0.1% from prior closing price of 53.4. Analysts have noted that the dip in stock prices could be attributed to the fact that investors may still need time to adjust to the new change and become familiar with Andrea G. Smith’s leadership style. With her expertise and leadership capabilities, she is expected to bring a new level of success to the company. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for 1st Source. More…
| Total Revenues | Net Income | Net Margin |
| – | 116.22 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for 1st Source. More…
| Operations | Investing | Financing |
| 193.43 | -876.36 | 163.25 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for 1st Source. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.1k | 7.21k | – |
Key Ratios Snapshot
Some of the financial key ratios for 1st Source are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.7% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
VI Analysis – 1st Source Intrinsic Value Calculator
1ST SOURCE Corporation has a strong set of fundamentals that reflect its long term potential. According to the Value Investor (VI) application, 1ST SOURCE’s fair value is around $46.3. At present, however, 1ST SOURCE stock is trading at $53.3, which is 15% higher than the fair value. This suggests that the stock is currently overvalued, and investors might want to consider looking for better opportunities. The company has also consistently reported positive earnings growth over the past five years. Overall, 1ST SOURCE Corporation appears to be a fundamentally sound company with solid financials and decent operational performance. However, investors should note that the stock is currently overvalued by 15%, and may want to look for other investment opportunities. More…
VI Peers
The company offers a wide range of products and services including banking, lending, investments, and insurance. 1st Source Corp competes with a number of other financial institutions in the United States, including Salisbury Bancorp Inc, Union Bank Of The Philippines Inc, East West Banking Corp.
– Salisbury Bancorp Inc ($NASDAQ:SAL)
Salisbury Bancorp Inc is a bank holding company based in the United States. The company was founded in 1892 and is headquartered in New York, New York. Salisbury Bancorp Inc operates through its subsidiary, Salisbury Bank and Trust Company. The company provides banking services to individuals and businesses in the United States. Salisbury Bank and Trust Company offers a range of deposit and loan products, as well as online and mobile banking services.
– Union Bank Of The Philippines Inc ($PSE:UBP)
Union Bank of the Philippines Inc has a market cap of 167.08B as of 2022. The company is a universal bank that provides a wide range of banking and other financial services to its retail, corporate, and institutional clients. Its products and services include deposit products, loans, credit cards, foreign exchange, treasury, and trust services. The bank has a network of over 900 branches and 2,600 ATMs nationwide.
– East West Banking Corp ($PSE:EW)
East West Banking Corporation is a Philippines-based bank. The Bank offers a range of personal and corporate banking services, which include deposits, loans, foreign exchange, treasury, credit cards, and other services. East West Banking Corporation has a nationwide network of over 500 branches and 1,800 ATMs.
Summary
Investing in 1st Source can be a great opportunity for those looking to capitalize on the success of the company. With Andrea G. Smith as the new CEO, the company has been receiving positive news coverage and looks to be on the right track. 1st Source is a mid-sized financial services firm, offering banking, mortgage, investing and insurance services to individuals, families and businesses. The company’s banking services range from personal checking and savings accounts to business loans, lines of credit and commercial mortgages. The mortgage services include the ability to purchase a home, refinance a loan, or even buy a second home. For those interested in investing, 1st Source offers a wide range of options, including mutual funds, stocks, bonds, annuities and more.
The company also provides insurance services for both businesses and individuals, such as life insurance, health insurance, property and casualty insurance and more. The company also has a strong record of financial stability and is regularly recognized for its commitment to community development. With its long history and proven track record, investing in 1st Source can be a great way to diversify one’s portfolio and capitalize on the company’s success. The company’s wide range of services also gives investors a chance to find the right investment option that best meets their needs.
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