1st Source Co. (NASDAQ:SRCE) Announces $0.36 Quarterly Dividend

1st Source Co. (NASDAQ:SRCE) declared a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Shareholders of record on Tuesday, February 4th will be given a dividend of 0.36 per share by the financial services provider on Friday, February 14th. This represents a $1.44 annualized dividend and a yield of 2.50%. The ex-dividend date is Tuesday, February 4th.

1st Source has increased its dividend payment by an average of 5.0% per year over the last three years. 1st Source has a dividend payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect 1st Source to earn $5.39 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 26.7%.

1st Source Stock Down 0.0 %

Shares of NASDAQ SRCE opened at $57.53 on Friday. The firm’s 50-day moving average is $60.81 and its 200-day moving average is $60.36. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. 1st Source has a 1 year low of $47.30 and a 1 year high of $68.13. The firm has a market capitalization of $1.41 billion, a PE ratio of 10.96 and a beta of 0.82.

1st Source (NASDAQ:SRCE) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. 1st Source had a net margin of 23.01% and a return on equity of 11.68%. Equities analysts expect that 1st Source will post 5.46 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of 1st Source in a report on Saturday, January 18th.

1st Source Company Profile

1st Source Corporation operates as the bank holding company for 1st Source Bank that provides commercial and consumer banking services, trust and wealth advisory services, and insurance products to individual and business clients. Its consumer banking services include checking and savings accounts; certificates of deposit; individual retirement accounts; online and mobile banking products; consumer loans, real estate mortgage loans, and home equity lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards.