Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

1st Source Corporation (SRCE)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$131.23 - $318.48$195.09
Multi-Stage$96.17 - $105.09$100.55
Blended Fair Value$147.82
Current Price$61.56
Upside140.12%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS4.05%7.21%1.441.351.311.281.211.181.050.830.790.74
YoY Growth--7.02%3.03%2.43%5.29%2.56%12.98%25.72%5.23%7.12%2.74%
Dividend Yield--2.41%2.62%3.03%2.76%2.55%3.65%2.29%1.65%1.69%2.32%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)148.58
(-) Cash Dividends Paid (M)37.44
(=) Cash Retained (M)111.14
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)29.7218.5711.14
Cash Retained (M)111.14111.14111.14
(-) Cash Required (M)-29.72-18.57-11.14
(=) Excess Retained (M)81.4292.57100.00
(/) Shares Outstanding (M)24.5124.5124.51
(=) Excess Retained per Share3.323.784.08
LTM Dividend per Share1.531.531.53
(+) Excess Retained per Share3.323.784.08
(=) Adjusted Dividend4.855.305.61
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate5.21%6.21%7.21%
Fair Value$131.23$195.09$318.48
Upside / Downside113.18%216.91%417.35%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)148.58157.81167.61178.02189.07200.82206.84
Payout Ratio25.20%38.16%51.12%64.08%77.04%90.00%92.50%
Projected Dividends (M)37.4460.2285.68114.07145.66180.74191.33

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate5.21%6.21%7.21%
Year 1 PV (M)54.6855.2055.72
Year 2 PV (M)70.6471.9973.35
Year 3 PV (M)85.3987.8590.35
Year 4 PV (M)99.00102.82106.75
Year 5 PV (M)111.54116.94122.55
PV of Terminal Value (M)1,936.282,030.062,127.45
Equity Value (M)2,357.522,464.852,576.16
Shares Outstanding (M)24.5124.5124.51
Fair Value$96.17$100.55$105.09
Upside / Downside56.22%63.33%70.71%

High-Yield Dividend Screener

« Prev Page 17 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
SAHSonic Automotive, Inc.2.13%$1.3135.28%
AIG-PAAmerican International Group, Inc.2.12%$1.6930.01%
LANCLancaster Colony Corporation2.11%$3.8261.80%
TDACTranslational Development Acquisition Corp.2.10%$0.2279.86%
FASTFastenal Company2.09%$0.8579.50%
FDUSFidus Investment Corporation2.09%$0.4117.86%
IBOCInternational Bancshares Corporation2.09%$1.4020.70%
SMRSXALPS/Smith Short Duration Bond Investor2.09%$0.2298.81%
SSSSSuRo Capital Corp.2.09%$0.208.46%
MLRMiller Industries, Inc.2.08%$0.7830.00%
OACCOaktree Acquisition Corp. III Life Sciences2.08%$0.2261.74%
FCCOFirst Community Corporation2.07%$0.6025.08%
GNTXGentex Corporation2.07%$0.4928.42%
OACCUOaktree Acquisition Corp. III Life Sciences Unit2.07%$0.2261.74%
DLBDolby Laboratories, Inc.2.06%$1.3149.64%
APOGApogee Enterprises, Inc.2.05%$0.7737.24%
CAKEThe Cheesecake Factory Incorporated2.05%$1.0832.74%
EWBCEast West Bancorp, Inc.2.05%$2.3625.97%
ALFCenturion Acquisition Corp.2.04%$0.2251.38%
ATOAtmos Energy Corporation2.04%$3.4546.19%
OVLYOak Valley Bancorp2.04%$0.6129.73%
0HYE.LCincinnati Financial Corporation2.03%$3.2824.36%
AOSA. O. Smith Corporation2.03%$1.3936.68%
ACTEnact Holdings, Inc.2.02%$0.8018.03%
ARKOArko Corp.2.02%$0.0955.86%
KFYKorn Ferry2.02%$1.3426.97%
0H68.LAflac Incorporated2.01%$2.2028.14%
LENLennar Corporation2.01%$2.1025.46%
AVYAvery Dennison Corporation2.00%$3.6641.17%
RHLDResolute Holdings Management, Inc.2.00%$3.7422.61%
ALFUUCenturion Acquisition Corp. Unit1.99%$0.2251.38%
GNTYGuaranty Bancshares, Inc.1.99%$0.9730.69%
NCNACCO Industries, Inc.1.99%$0.9524.54%
QCOMQUALCOMM Incorporated1.99%$3.4468.67%
THGThe Hanover Insurance Group, Inc.1.98%$3.5520.46%
CNMDCONMED Corporation1.97%$0.8038.60%
FBINFortune Brands Innovations, Inc.1.97%$1.0036.69%
FEIMFrequency Electronics, Inc.1.97%$1.0046.25%
RPMRPM International Inc.1.97%$2.0437.93%
BNJBrookfield Finance Inc. 4.50% P1.96%$0.3070.51%
MTGMGIC Investment Corporation1.96%$0.5717.51%
CCSCentury Communities, Inc.1.95%$1.1516.06%
0K6F.LNetApp, Inc.1.94%$2.0735.51%
BLKBlackRock, Inc.1.94%$21.0053.94%
FNB-PEF.N.B. Corporation1.94%$0.4834.55%
0L4F.LSealed Air Corporation1.93%$0.8030.13%
AEOAmerican Eagle Outfitters, Inc.1.93%$0.5142.14%
SLGNSilgan Holdings Inc.1.93%$0.8026.98%
FSFGFirst Savings Financial Group, Inc.1.92%$0.6123.93%
GENGen Digital Inc.1.92%$0.5054.91%