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General information

Country: UNITED STATES

Sector: Banks — Regional

1st Source Corporation is the holding company for 1st Source Bank. The Bank attracts deposits and offers commercial banking, personal banking and trust services to customers in northern Indiana and southwestern Michigan. 1st Source"s Specialty Finance Group provides leases and financing for aircraft, automobiles, trucks, and construction equipment.
Website: 1stsource.com



Growth: Pretty weak revenue growth rate 2.9%, there is acceleration compared to average historical growth rates -7.7%. The revenue growth dynamics is unstable Site traffic for the last 3 months showed a change of +17.6%

Profitability: LTM net profit margin is positive, +43.4%. On average the margin is decreasing unsteadily. Gross margin is high, +84.3%. In the last quarter the company beat the estimated EPS, 0.0%. The company was ahead of estimated EPS in 80% of quarters (showing a gain of +$0.07 per share on average)

Cash Flow Generation: Dividend yield for the last twelve months 2.7%.

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 25.3% higher than minimum and 14.7% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, Net Income margin, industries and geography on average are valued 3.4x by P / Sales multiple , the company can be 23.4% overvalued

Key Financials (Download financials)

Ticker: SRCE
Share price, USD:  (+2.2%)50.415
year average price 47.26  


year start price 41.20 2023-05-01

min close price 40.25 2023-05-04

max close price 55.80 2023-12-26

current price 50.42 2024-04-29
Common stocks: 24 459 088

Dividend Yield:  2.7%
P / E LTM: 10.1x
P / E annualized: 10.4x
Last revenue growth (y/y):  2.9%
Last growth of Net Income (y/y):  -6.5%
Historical revenue growth:  -7.7%
Historical growth of Net Income:  14.6%
P / Sales: 4.4x
Margin (Net Income LTM / Revenue): 43.4%
Fundamental value created in LTM:
Market Cap ($m): 1 233
Price to Book: 1.2x

Revenue and Net Income

Quarterly values ($m)

Change (y/y)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

News


2024-03-13Zacks Investment Research

1st Source (SRCE) Upgraded to Strong Buy: Here's What You Should Know

2023-12-14Zacks Investment Research

1st Source (SRCE) Stock Jumps 5.1%: Will It Continue to Soar?

2023-10-19Zacks Investment Research

1st Source (SRCE) Q3 Earnings and Revenues Beat Estimates
More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2024 q1 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol SRCE SRCE SRCE SRCE SRCE SRCE SRCE
reportedCurrency USD USD USD USD USD USD USD
cik 34 782 34 782 34 782 34 782 34 782 34 782 34 782
fillingDate 2024-04-25 2024-02-20 2023-10-19 2023-07-20 2023-04-20 2023-02-16 2022-10-20
acceptedDate 2024-04-25 16:00:57 2024-02-20 17:10:21 2023-10-19 16:10:04 2023-07-20 16:28:18 2023-04-20 16:02:13 2023-02-16 16:39:04 2022-10-20 16:04:46
calendarYear 2024.000 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q1 Q4 Q3 Q2 Q1 Q4 Q3
revenue 138M 135M 94M 91M 93M 95M 91M
costOfRevenue 22M 0 -14M 0 0 0 0
grossProfit 116M 135M 107M 91M 93M 95M 0
grossProfitRatio 0.843 1.000 1.146 1.000 1.000 1.000 0
researchAndDevelopmentExpenses 0 0 0 0 0 0 0
generalAndAdministrativeExpenses 1M 32M 30M 30M 30M 36M 35M
sellingAndMarketingExpenses 2M -5M 1M 2M 2M 0 0
sellingGeneralAndAdministrativeExpenses 3M 27M 32M 31M 32M 36M 35M
otherExpenses -15M -17M -16M 0 0 0 0
operatingExpenses 15M 17M 3M 3M 3M 0 0
costAndExpenses 101M 98M 3M 3M 3M 0 0
interestIncome 22M 115M 107M 101M 94M 87M 76M
interestExpense 45M 5M 38M 32M 25M 16M 8M
depreciationAndAmortization 3M 2M 4M 2M 4M 2M 4M
ebitda 38M 2M 43M 65M 69M 59M 54M
ebitdaratio 0.274 0.011 0.455 0.715 0.748 0.622 0.599
operatingIncome 38M 12 000 43M 63M 65M 57M 0
operatingIncomeRatio 0.274 0.000 0.455 0.695 0.703 0.600 0
totalOtherIncomeExpensesNet 38M 37M 43M -21M -25M -16M 0
incomeBeforeTax 38M 37M 43M 42M 40M 41M 42M
incomeBeforeTaxRatio 0.274 0.271 0.455 0.461 0.435 0.433 0.467
incomeTaxExpense 8M 8M 10M 10M 9M 10M 10M
netIncome 29M 28M 33M 32M 31M 31M 33M
netIncomeRatio 0.211 0.211 0.352 0.355 0.335 0.328 0.360
eps 1.190 1.160 1.320 1.300 1.250 1.250 1.320
epsdiluted 1.190 1.160 1.320 1.300 1.250 1.250 1.320
weightedAverageShsOut 24M 24M 25M 25M 25M 25M 25M
weightedAverageShsOutDil 24M 24M 25M 25M 25M 25M 25M
link Link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link Link

Balance Sheet Statement

Property 2024 q1 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol SRCE SRCE SRCE SRCE SRCE SRCE SRCE
reportedCurrency USD USD USD USD USD USD USD
cik 34 782 34 782 34 782 34 782 34 782 34 782 34 782
fillingDate 2024-04-25 2024-02-20 2023-10-19 2023-07-20 2023-04-20 2023-02-16 2022-10-20
acceptedDate 2024-04-25 16:00:57 2024-02-20 17:10:21 2023-10-19 16:10:04 2023-07-20 16:28:18 2023-04-20 16:02:13 2023-02-16 16:39:04 2022-10-20 16:04:46
calendarYear 2024.000 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q1 Q4 Q3 Q2 Q1 Q4 Q3
cashAndCashEquivalents 42M 77M 76M 87M 67M 85M 87M
shortTermInvestments 1 583M 1 623M 1 605M 1 661M 1 713M 1 775M 1 801M
cashAndShortTermInvestments 1 625M 106M 1 681M 1 748M 67M 1 860M 1 888M
netReceivables 0 0 28M 387M 25M 380M 21M
inventory 0 0 -168M 0 0 0 0
otherCurrentAssets 112M 130M 140M 0 0 0 0
totalCurrentAssets 112M 130M 1 681M 1 748M 67M 2 240M 1 909M
propertyPlantEquipmentNet 84M 67M 90M 71M 97M 76M 98M
goodwill 0 84M 84M 84M 84M 84M 84M
intangibleAssets 0 84M 4M 4M 4M 40 000 4M
goodwillAndIntangibleAssets 84M 84M 88M 84M 88M 84M 88M
longTermInvestments 245M 79M 1 780M 1 687M 1 739M 1 800M 1 949M
taxAssets 7 959M 7 941M 0 0 0 0 0
otherNonCurrentAssets 185M 427M -1 831M -1 713M -1 795M -1 961M -2 136M
totalNonCurrentAssets 8 556M 8 598M 128M 128M 128M 1 961M 2 136M
otherAssets 0 1.000 6 716M 6 539M 8 135M 4 139M 3 993M
totalAssets 8 668M 8 728M 8 525M 8 415M 8 330M 8 339M 8 037M
accountPayables 0 0 0 0 0 0 0
shortTermDebt 250M 312M 224M 118M 230M 74M 195M
taxPayables 0 0 0 0 0 0 0
deferredRevenue 0 0 0 0 0 0 0
otherCurrentLiabilities 3 983M 4 087M 0 0 0 -74M -195M
totalCurrentLiabilities 4 233M 4 399M 224M 118M 230M 74M 195M
longTermDebt 98M 107M 105M 105M 105M 105M 106M
deferredRevenueNonCurrent 0 0 0 0 0 0 0
deferredTaxLiabilitiesNonCurrent 0 0 0 0 0 0 0
otherNonCurrentLiabilities 3 255M 3 154M 7 213M 7 211M 7 026M -31M -195M
totalNonCurrentLiabilities 3 353M 3 261M 7 318M 7 316M 7 132M 74M 195M
otherLiabilities 1.000 1.000 0 0 0 7 267M 6 821M
capitalLeaseObligations 0 15M 0 0 0 0 0
totalLiabilities 7 586M 7 660M 7 542M 7 435M 7 361M 7 416M 7 211M
preferredStock 0 0 0 0 0 0 0
commonStock 437M 437M 437M 437M 437M 437M 437M
retainedEarnings 812M 790M 770M 744M 719M 695M 672M
accumulatedOtherComprehensiveIncomeLoss -109M -106M -151M -140M -127M -148M -162M
othertotalStockholdersEquity -130M -130M -131M -120M -119M -120M -120M
totalStockholdersEquity 1 010M 990M 924M 921M 909M 864M 826M
totalEquity 1 082M 1 068M 983M 980M 909M 864M 826M
totalLiabilitiesAndStockholdersEquity 8 668M 8 728M 8 525M 8 415M 8 330M 8 339M 8 037M
minorityInterest 72M 79M 59M 59M 59M 60M 0
totalLiabilitiesAndTotalEquity 8 668M 8 728M 8 525M 8 415M 8 330M 8 339M 8 037M
totalInvestments 245M 79M 1 605M 1 661M 3 452M 3 576M 3 750M
totalDebt 348M 419M 329M 224M 335M 179M 302M
netDebt 306M 342M 253M 137M 268M 95M 215M
link Link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link Link

Cash Flow Statement

Property 2024 q1 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol SRCE SRCE SRCE SRCE SRCE SRCE SRCE
reportedCurrency USD USD USD USD USD USD USD
cik 34 782 34 782 34 782 34 782 34 782 34 782 34 782
fillingDate 2024-04-25 2024-02-20 2023-10-19 2023-07-20 2023-04-20 2023-02-16 2022-10-20
acceptedDate 2024-04-25 16:00:57 2024-02-20 17:10:21 2023-10-19 16:10:04 2023-07-20 16:28:18 2023-04-20 16:02:13 2023-02-16 16:39:04 2022-10-20 16:04:46
calendarYear 2024.000 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q1 Q4 Q3 Q2 Q1 Q4 Q3
netIncome 29M 28M 33M 32M 31M 31M 33M
depreciationAndAmortization 3M 2M 4M 4M 4M 4M 4M
deferredIncomeTax 2M -4M -2M -3M -993 000 -4M -2M
stockBasedCompensation 0 1M 1M 1M 1M 1M 891 000
changeInWorkingCapital -281 000 7M 17M 10M 6M 7M 3M
accountsReceivables 0 -2M -3M -272 000 -125 000 -4M -2M
inventory 0 0 0 0 0 0 0
accountsPayables 0 490 000 9M 7M 8M 3M 840 000
otherWorkingCapital 0 9M 11M 3M -1M 9M 5M
otherNonCashItems 15M 9M -1M 687 000 5M 4M 16M
netCashProvidedByOperatingActivities 43M 44M 52M 45M 47M 44M 55M
investmentsInPropertyPlantAndEquipment -575 000 -3M -983 000 -812 000 -813 000 -1M -717 000
acquisitionsNet 1M -207M -168M -126M 0 0 0
purchasesOfInvestments -31M -44M 27 000 -27 000 -3M -23M -98M
salesMaturitiesOfInvestments 57M 82M 40M 35M 90M 68M 60M
otherInvestingActivites 18M 25M 19M 16M -111M -253M -227M
netCashUsedForInvestingActivites -26M -148M -110M -76M -24M -210M -265M
debtRepayment -74M -67 000 -328 000 -328 000 -3M -2M -326 000
commonStockIssued 0 111M 75M 60M 0 0 0
commonStockRepurchased 0 1000.000 -10M -1M -766 000 0 0
dividendsPaid -9M -9M -8M -8M -8M -8M -8M
otherFinancingActivites -41M 20M -320 000 -230 000 -40M 182M 55M
netCashUsedProvidedByFinancingActivities -66M 123M 56M 50M -51M 172M 46M
effectOfForexChangesOnCash 0 0 3M -17M 0 0 0
netChangeInCash -49M 19M -2M 19M -29M 5M -164M
cashAtEndOfPeriod 81M 130M 111M 113M 94M 123M 118M
cashAtBeginningOfPeriod 130M 111M 113M 94M 123M 118M 282M
operatingCashFlow 43M 44M 52M 45M 47M 44M 55M
capitalExpenditure -575 000 -3M -983 000 -812 000 -813 000 -1M -717 000
freeCashFlow 42M 41M 51M 44M 46M 43M 54M
link Link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link Link

Earning call transcript

Press-releases

Show financial reports only

2024-04-26 15:10 ET
1st Source Bank Named One of America's Best Banks by Forbes
2024-04-25 11:40 ET
1st Source Corporation Reports First Quarter Results, Cash Dividend Declared
2024-01-18 21:05 ET
1st Source Corporation Reports Record Annual Earnings, Cash Dividend Declared, History of Increased Dividends Continues
2023-10-19 20:05 ET
1st Source Corporation Reports Record Third Quarter Results, Cash Dividend Increased
2023-07-20 20:21 ET
1st Source Corporation Reports Strong Second Quarter Results, Cash Dividend Declared
2023-06-22 19:02 ET
1st Source Bank Takes Top Spot in Indiana in "Best In State Banks" by Forbes Ranking
2023-04-21 14:30 ET
1st Source Corporation Elects New Member to its Board of Directors, Three Existing Directors Re-Elected
2023-04-20 11:45 ET
1st Source Corporation Reports Strong First Quarter Results, Cash Dividend Declared
2023-02-16 20:00 ET
1st Source Bank Named Among America’s Best Midsize Employers for Third Consecutive Year
2023-01-19 21:00 ET
1st Source Corporation Reports Record Annual Earnings, Cash Dividend Declared, History of Increased Dividends Continues
2022-11-23 18:41 ET
1st Source Announces Two Promotions with an Eye on the Future
2022-10-20 20:01 ET
1st Source Corporation Reports Record Third Quarter Results, Cash Dividend Declared
2022-07-21 20:00 ET
1st Source Corporation Reports Second Quarter Results, a Record Quarter Adjusted for PPP Income Due to Government Response to COVID-19; Cash Dividend Increased
2022-06-24 13:24 ET
1st Source Bank Named as One of Indiana’s “Best In State Banks” by Forbes
2022-06-15 14:11 ET
1st Source Performance Earns Inclusion in the KBW Bank Honor Roll
2022-04-22 16:18 ET
1st Source Elects New Member to its Board of Directors
2022-04-21 11:45 ET
1st Source Corporation Reports First Quarter Results, Cash Dividend Declared
2022-01-20 21:02 ET
1st Source Corporation Reports Record Annual Earnings, Cash Dividend Declared, History of Increased Dividends Continues
2021-10-21 20:05 ET
1st Source Corporation Reports Record Third Quarter Results, Cash Dividend Declared
2021-07-28 19:00 ET
1st Source Announces the Promotion of Two Senior Leaders
2021-07-22 20:00 ET
1st Source Corporation Reports Record Second Quarter Results, Cash Dividend Increased
2021-04-23 18:10 ET
1st Source Elects Two New Members to its Board of Directors
2021-04-22 13:20 ET
1st Source Corporation Reports Record First Quarter Results, Cash Dividend Increased
2021-01-21 21:02 ET
1st Source Corporation Reports Earnings for Full Year and Fourth Quarter 2020, Cash Dividend Increased, History of Increased Dividends Continues
2020-10-22 20:02 ET
1st Source Corporation Reports Third Quarter Results, Cash Dividend Declared
2020-07-28 15:00 ET
1st Source Elects Experienced Communications Leader to Board of Directors
2020-07-23 20:05 ET
1st Source Corporation Reports Second Quarter Results, Cash Dividend Declared
2020-06-05 20:12 ET
Andrea Short Elected President, Jim Seitz as Vice Chairman of 1st Source Bank
2020-04-23 13:20 ET
1st Source Corporation Reports First Quarter Results, Cash Dividend Declared
2020-03-31 20:30 ET
1st Source Corporation to Hold Virtual Annual Shareholder Meeting
2020-01-28 16:15 ET
1st Source Announces Board Departure of Lisa Hershman
2020-01-23 21:00 ET
1st Source Corporation Reports Continuing Record Earnings in 2019, History of Increased Dividends Continues
2019-10-17 20:26 ET
1st Source Corporation Reports Fourth Consecutive Quarter of Record Results, Cash Dividend Increased

SEC forms

Show financial reports only

SEC form 10
2024-04-25 16:00 ET
1st Source published news for 2024 q1
SEC form 8
2024-04-25 07:44 ET
1st Source reported for 2024 q1
SEC form 8
2024-04-25 07:44 ET
1st Source published news for 2024 q1
SEC form 10
2024-04-25 00:00 ET
1st Source published news for 2024 q1
SEC form 10
2024-02-20 00:00 ET
1st Source published news for 2023 q4
SEC form 8
2024-01-18 16:10 ET
1st Source published news for 2023 q4
SEC form 8
2024-01-18 16:10 ET
1st Source reported for 2023 q4
SEC form 10
2023-10-19 16:10 ET
1st Source reported for 2023 q3
SEC form 8
2023-10-19 16:09 ET
1st Source published news for 2023 q3
SEC form 10
2023-10-19 00:00 ET
1st Source published news for 2023 q3
SEC form 10
2023-07-20 16:28 ET
1st Source reported for 2023 q2
SEC form 6
2023-07-20 16:26 ET
1st Source published news for 2023 q2
SEC form 8
2023-07-20 00:00 ET
1st Source published news for 2023 q2
SEC form 10
2023-07-20 00:00 ET
1st Source published news for 2023 q2
SEC form 6
2023-07-10 15:32 ET
1st Source published news for 2023 q2
SEC form 6
2023-06-29 16:09 ET
1st Source published news for 2023 q1
SEC form 10
2023-04-20 00:00 ET
1st Source published news for 2023 q1
SEC form 8
2023-04-20 00:00 ET
1st Source published news for 2023 q1
SEC form 10
2023-02-16 16:39 ET
1st Source published news for 2022 q4
SEC form 6
2023-02-16 16:01 ET
1st Source published news for 2022 q4
SEC form 10
2023-02-16 00:00 ET
1st Source published news for 2022 q4
SEC form 6
2023-02-02 13:09 ET
1st Source published news for 2022 q4
SEC form 6
2023-01-19 16:10 ET
1st Source published news for 2022 q4
SEC form 8
2023-01-19 00:00 ET
1st Source reported for 2022 q4
SEC form 6
2022-11-23 15:09 ET
1st Source published news for 2022 q3
SEC form 6
2022-11-15 14:52 ET
1st Source published news for 2022 q3
SEC form 10
2022-10-20 16:04 ET
1st Source reported for 2022 q3
SEC form 6
2022-10-20 16:03 ET
1st Source published news for 2022 q3
SEC form 8
2022-10-20 00:00 ET
1st Source reported for 2022 q3
SEC form 10
2022-10-20 00:00 ET
1st Source reported for 2022 q3
SEC form 6
2022-08-18 13:05 ET
1st Source published news for 2022 q2
SEC form 10
2022-07-21 16:03 ET
1st Source reported for 2022 q2
SEC form 6
2022-07-21 16:01 ET
1st Source published news for 2022 q2
SEC form 8
2022-07-21 00:00 ET
1st Source reported for 2022 q2
SEC form 10
2022-07-21 00:00 ET
1st Source reported for 2022 q2
SEC form 6
2022-06-28 17:07 ET
1st Source published news for 2022 q1
SEC form 6
2022-05-09 15:39 ET
1st Source published news for 2022 q1
SEC form 6
2022-04-27 11:50 ET
1st Source published news for 2022 q1
SEC form 6
2022-04-22 16:12 ET
1st Source published news for 2022 q1
SEC form 10
2022-04-21 16:03 ET
1st Source published news for 2022 q1
SEC form 6
2022-04-21 07:48 ET
1st Source published news for 2022 q1
SEC form 8
2022-04-21 00:00 ET
1st Source reported for 2022 q1
SEC form 10
2022-04-21 00:00 ET
1st Source published news for 2022 q1
SEC form 6
2022-03-11 16:03 ET
1st Source published news for 2021 q4
SEC form 10
2022-02-17 17:28 ET
1st Source published news for 2021 q4
SEC form 10
2022-02-17 00:00 ET
1st Source published news for 2021 q4
SEC form 6
2022-02-16 14:21 ET
1st Source published news for 2021 q4
SEC form 6
2022-01-20 16:12 ET
1st Source published news for 2021 q4
SEC form 8
2022-01-20 00:00 ET
1st Source published news for 2021 q4
SEC form 6
2021-11-03 15:45 ET
1st Source published news for 2021 q3
SEC form 10
2021-10-21 16:10 ET
1st Source published news for 2021 q3
SEC form 6
2021-10-21 16:07 ET
1st Source published news for 2021 q3
SEC form 8
2021-10-21 00:00 ET
1st Source published news for 2021 q3
SEC form 10
2021-10-21 00:00 ET
1st Source published news for 2021 q3
SEC form 6
2021-09-09 11:34 ET
1st Source published news for 2021 q2
SEC form 6
2021-08-04 15:12 ET
1st Source published news for 2021 q2
SEC form 6
2021-08-02 08:37 ET
1st Source published news for 2021 q2
SEC form 6
2021-07-28 15:21 ET
1st Source published news for 2021 q2
SEC form 10
2021-07-22 16:06 ET
1st Source published news for 2021 q2
SEC form 6
2021-07-22 16:03 ET
1st Source published news for 2021 q2
SEC form 8
2021-07-22 00:00 ET
1st Source published news for 2021 q2
SEC form 10
2021-07-22 00:00 ET
1st Source published news for 2021 q2
SEC form 6
2021-06-21 14:53 ET
1st Source published news for 2021 q1
SEC form 6
2021-05-05 09:53 ET
1st Source published news for 2021 q1
SEC form 6
2021-04-28 14:14 ET
1st Source published news for 2021 q1
SEC form 6
2021-04-28 14:13 ET
1st Source published news for 2021 q1
SEC form 6
2021-04-23 15:38 ET
1st Source published news for 2021 q1
SEC form 10
2021-04-22 16:06 ET
1st Source published news for 2021 q1
SEC form 6
2021-04-22 09:31 ET
1st Source published news for 2021 q1
SEC form 8
2021-04-22 00:00 ET
1st Source published news for 2021 q1
SEC form 10
2021-04-22 00:00 ET
1st Source published news for 2021 q1
SEC form 6
2021-04-09 13:03 ET
1st Source published news for 2021 q1
SEC form 6
2021-03-12 16:00 ET
1st Source published news for 2020 q4
SEC form 10
2021-02-18 16:16 ET
1st Source published news for 2020 q4
SEC form 6
2021-02-10 15:46 ET
1st Source published news for 2020 q4
SEC form 6
2021-01-21 16:11 ET
1st Source published news for 2020 q4
SEC form 6
2020-11-13 11:48 ET
1st Source published news for 2020 q3
SEC form 10
2020-10-22 16:19 ET
1st Source published news for 2020 q3
SEC form 6
2020-10-22 16:13 ET
1st Source published news for 2020 q3