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

1st Source Co. (NASDAQ:SRCE) declared a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Tuesday, February 4th.

1st Source has increased its dividend by an average of 5.0% annually over the last three years. 1st Source has a dividend payout ratio of 26.4% meaning 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 %

1st Source stock traded down $0.02 during trading hours on Friday, hitting $57.53. 82,529 shares of the stock traded hands, compared to its average volume of 61,489. 1st Source has a one year low of $47.30 and a one year high of $68.13. The company has a market cap of $1.41 billion, a PE ratio of 10.96 and a beta of 0.82. The firm’s 50-day moving average price is $60.96 and its two-hundred day moving average price is $60.27. 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 (NASDAQ:SRCE) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. 1st Source had a return on equity of 11.68% and a net margin of 23.01%. On average, research analysts forecast that 1st Source will post 5.46 EPS for the current year.

Wall Street Analysts Forecast Growth

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

About 1st Source

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.