Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

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 8 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
035810.KQEASY HOLDINGS Co., Ltd.9.64%$435.2887.39%
0623.HKSinoMedia Holding Limited9.64%$0.1944.98%
ITSA3.SAItaúsa S.A.9.64%$1.1780.68%
MFG.AXMagellan Financial Group Limited9.64%$0.9634.94%
PMTA.BKPM Thoresen Asia Holdings Public Company Limited9.64%$0.9860.98%
2989.TTokaido REIT, Inc.9.63%$11,143.4889.54%
SBMO.ASSBM Offshore N.V.9.63%$2.3853.44%
0576.HKZhejiang Expressway Co., Ltd.9.62%$0.6974.90%
INVEST.HEInvestors House Oyj9.62%$0.3663.41%
MFEC.BKMFEC Public Company Limited9.62%$0.5094.79%
PIKK.MEPJSC PIK-specialized homebuilder9.61%$45.9431.14%
6868.HKTenfu (Cayman) Holdings Company Limited9.60%$0.2693.07%
601077.SSChongqing Rural Commercial Bank Co., Ltd.9.58%$0.6286.18%
SIQ.AXSmartgroup Corporation Ltd9.58%$0.8777.09%
5012.KLTa Ann Holdings Berhad9.57%$0.4093.61%
PAC.AXPacific Current Group Limited9.57%$0.9623.44%
MTO.AXMotorCycle Holdings Limited9.56%$0.3068.86%
HME.VHemisphere Energy Corporation9.55%$0.1957.92%
0382.HKEdvantage Group Holdings Limited9.54%$0.1412.43%
0OQQ.LInfotel S.A.9.54%$4.0386.81%
VIE.PAVeolia Environnement S.A.9.53%$2.8797.23%
0QJX.LEFG International AG9.52%$1.8196.44%
601998.SSChina CITIC Bank Corporation Limited9.51%$0.7368.88%
0752.HKPico Far East Holdings Limited9.50%$0.2545.55%
MRN.PAMersen S.A.9.50%$2.3045.40%
MTS.AXMetcash Limited9.50%$0.3164.02%
SYNE3.SASYN prop e tech S.A.9.50%$0.4659.20%
TEXF.BRTexaf S.A.9.50%$3.4063.35%
601997.SSBank of Guiyang Co.,Ltd.9.49%$0.5639.86%
WMA.AXWam Alternative Assets Limited9.49%$0.109.12%
0135.HKKunlun Energy Company Limited9.48%$0.7052.47%
SC-R.BKSC Asset Corporation Public Company Limited9.47%$0.1648.63%
0DLI.LAcomo N.V.9.45%$2.4067.74%
AFYAAfya Limited9.45%$1.4117.69%
BBRI.JKPT Bank Rakyat Indonesia (Persero) Tbk9.44%$343.6092.61%
TEKA.BKTeka Construction Public Company Limited9.44%$0.1696.55%
8964.TFrontier Real Estate Investment Corporation9.39%$8,736.6196.39%
ALLA.BKAlla Public Company Limited9.39%$0.1177.39%
4333.SRTaleem REIT Fund9.38%$0.9670.19%
SHL.AXSonic Healthcare Limited9.38%$2.1198.90%
TQM-R.BKTQM Alpha Public Company Limited9.37%$1.0882.74%
0882.HKTianjin Development Holdings Limited9.36%$0.2321.27%
0O84.LDNB Bank ASA9.36%$17.5255.97%
4339.SRDerayah Financial - Derayah Reit Fund9.36%$0.4982.63%
601390.SSChina Railway Group Limited9.35%$0.5150.32%
CPACopa Holdings, S.A.9.35%$11.3970.44%
BRSR3.SABanco do Estado do Rio Grande do Sul S.A.9.34%$1.5649.87%
RET.BRRetail Estates N.V.9.34%$5.9746.68%
0265.HKGangyu Smart Urban Services Holdings Limited9.33%$0.1868.15%
KGKC.MEPJSC Kurgan Generation Company9.33%$4.0370.77%