Latest news with #1stSource
Associated Press
15-05-2025
- Business
- Associated Press
1st Source Makes KBW Bank Honor Roll for 7th Consecutive Year
Among 16 U.S. banks with the strongest/most consistent earnings growth South Bend, Indiana--(Newsfile Corp. - May 15, 2025) - 1st Source (NASDAQ: SRCE) is pleased to announce that it made the annual Bank Honor Roll by Keefe, Bruyette & Woods, Inc. (KBW) for the seventh consecutive year. They are among just 16 U.S. Banks on the list, placing its long-term performance among the top 5% of eligible banks in the United States. To be eligible, Banks must have more than $500 million in total assets and meet at least one of two criteria: consistent earnings growth over each of the past 10 years, and/or the top 5% of eligible banks based on a 10-year earnings per share (EPS) compounded annual growth rate (CAGR). 'To be named among just 16 elite banks in the United States for the seventh year in a row speaks volumes for 1st Source's mission,' said Andrea Short, President and CEO of 1st Source Bank and President of parent company, 1st Source Corporation. 'It is a welcome proof point that helping our clients achieve security, build wealth, and realize their dreams coincides with strong financial performance. When we help our clients and our communities, we help ourselves, our colleagues, and our shareholders.' KBW (Keefe, Bruyette & Woods, Inc., operating in the U.S., and Stifel Nicolaus Europe Limited, also trading as Keefe, Bruyette & Woods Europe, operating in Europe) is a Stifel company. Over the years, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking and specialty finance sectors. 1st Source Corporation, parent company of 1st Source Bank, has assets of $9.0 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 78 banking centers, 18 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Advisory Services locations, 10 1st Source Insurance offices, and three loan production offices. For more than 160 years, 1st Source has been committed to our mission of helping our clients achieve security, build wealth and realize their dreams. For more information, visit ### Contact: Hannah Nichols [email protected] 574-235-2128 SOURCE STRING: 1st Source Corporation To view the source version of this press release, please visit
Yahoo
12-03-2025
- Business
- Yahoo
Here's Why We Think 1st Source (NASDAQ:SRCE) Is Well Worth Watching
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it currently lacks a track record of revenue and profit. But the reality is that when a company loses money each year, for long enough, its investors will usually take their share of those losses. Loss-making companies are always racing against time to reach financial sustainability, so investors in these companies may be taking on more risk than they should. In contrast to all that, many investors prefer to focus on companies like 1st Source (NASDAQ:SRCE), which has not only revenues, but also profits. Even if this company is fairly valued by the market, investors would agree that generating consistent profits will continue to provide 1st Source with the means to add long-term value to shareholders. See our latest analysis for 1st Source If a company can keep growing earnings per share (EPS) long enough, its share price should eventually follow. That makes EPS growth an attractive quality for any company. 1st Source managed to grow EPS by 4.4% per year, over three years. That might not be particularly high growth, but it does show that per-share earnings are moving steadily in the right direction. Careful consideration of revenue growth and earnings before interest and taxation (EBIT) margins can help inform a view on the sustainability of the recent profit growth. It's noted that 1st Source's revenue from operations was lower than its revenue in the last twelve months, so that could distort our analysis of its margins. 1st Source maintained stable EBIT margins over the last year, all while growing revenue 3.1% to US$375m. That's encouraging news for the company! You can take a look at the company's revenue and earnings growth trend, in the chart below. Click on the chart to see the exact numbers. While we live in the present moment, there's little doubt that the future matters most in the investment decision process. So why not check this interactive chart depicting future EPS estimates, for 1st Source? It should give investors a sense of security owning shares in a company if insiders also own shares, creating a close alignment their interests. Shareholders will be pleased by the fact that insiders own 1st Source shares worth a considerable sum. Notably, they have an enviable stake in the company, worth US$385m. This totals to 26% of shares in the company. Enough to lead management's decision making process down a path that brings the most benefit to shareholders. Looking very optimistic for investors. It's good to see that insiders are invested in the company, but are remuneration levels reasonable? A brief analysis of the CEO compensation suggests they are. The median total compensation for CEOs of companies similar in size to 1st Source, with market caps between US$1.0b and US$3.2b, is around US$5.5m. 1st Source offered total compensation worth US$2.8m to its CEO in the year to December 2023. That comes in below the average for similar sized companies and seems pretty reasonable. While the level of CEO compensation shouldn't be the biggest factor in how the company is viewed, modest remuneration is a positive, because it suggests that the board keeps shareholder interests in mind. It can also be a sign of good governance, more generally. One positive for 1st Source is that it is growing EPS. That's nice to see. Earnings growth might be the main attraction for 1st Source, but the fun does not stop there. Boasting both modest CEO pay and considerable insider ownership, you'd argue this one is worthy of the watchlist, at least. While we've looked at the quality of the earnings, we haven't yet done any work to value the stock. So if you like to buy cheap, you may want to check if 1st Source is trading on a high P/E or a low P/E, relative to its industry. Although 1st Source certainly looks good, it may appeal to more investors if insiders were buying up shares. If you like to see companies with more skin in the game, then check out this handpicked selection of companies that not only boast of strong growth but have strong insider backing. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Globe and Mail
27-02-2025
- Business
- Globe and Mail
1st Source Bank Named One of America's Best Banks by Forbes
Ranked #26 in Top 100 U.S. Banks South Bend, Indiana--(Newsfile Corp. - February 27, 2025) - 1st Source Bank (NASDAQ: SRCE) is pleased to announce that they were once again named to Forbes' America's Best Banks list, taking the 26 th spot out of 100. According to Forbes, they look at "10 metrics measuring growth, credit quality and profitability for the 12 months ending September 30, 2024, and stock performance for the 12 months ending January 10, 2025." 1st Source is one of only three banks in Indiana to make this year's list. "We are honored to receive recognition as one of America's Best Banks for the second year in a row," said Andrea Short, President and CEO of 1st Source Bank and President of 1st Source Corporation. "To rank number 26 on such a prestigious list of competitors is a testament to our colleagues' commitment to living out our mission to help our clients achieve security, build wealth, and realize their dreams. I am proud of our long history of serving our clients well while reinforcing our stability as a financial institution in the areas of growth, credit quality and performance." The 16 th annual America's Best Banks list is compiled from analyzing the 200 largest publicly traded U.S. banks and thrifts by assets. Forbes lists the 10 equally-weighted financial metrics as "net interest margin; return on average tangible common equity; return on average assets; CET1 ratio; efficiency ratio; nonperforming assets as a percentage of total assets; reserves as a percentage of total assets; risk-based capital ratio; operating revenue growth; and net charge-offs as a percentage of total loans." While S&P Global Market Intelligence provides the data, the rankings are done separately by Forbes. The entire list can be viewed here: Forbes 2025 America's Best Banks. America's Best Banks To view an enhanced version of this graphic, please visit: 1st Source Corporation, parent company of 1st Source Bank, has assets of $8.9 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 77 banking centers, 18 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Advisory Services locations, 10 1st Source Insurance offices, and three loan production offices. For more than 160 years, 1st Source has been committed to our mission of helping our clients achieve security, build wealth and realize their dreams. For more information, visit ### Contact: Hannah Nichols NicholsHa@ 574-235-2128
Yahoo
13-02-2025
- Business
- Yahoo
Exploring 3 Hidden Gems in the US Stock Market
The United States stock market has remained flat over the past week but has shown a robust 21% increase in the last year, with earnings projected to grow by 14% annually. In this dynamic environment, identifying stocks that are undervalued or overlooked can present unique opportunities for investors seeking potential growth beyond the broader market trends. Name Debt To Equity Revenue Growth Earnings Growth Health Rating Eagle Financial Services 125.65% 12.07% 2.64% ★★★★★★ Morris State Bancshares 9.72% 4.93% 6.51% ★★★★★★ Wilson Bank Holding NA 7.87% 8.22% ★★★★★★ Omega Flex NA 0.39% 2.57% ★★★★★★ Oakworth Capital 31.49% 14.78% 4.46% ★★★★★★ ASA Gold and Precious Metals NA 7.47% -26.86% ★★★★★★ Parker Drilling 46.05% 0.86% 52.25% ★★★★★★ FRMO 0.08% 38.78% 45.85% ★★★★★☆ Pure Cycle 5.15% -2.61% -6.23% ★★★★★☆ Reitar Logtech Holdings 31.39% 231.46% 41.38% ★★★★☆☆ Click here to see the full list of 285 stocks from our US Undiscovered Gems With Strong Fundamentals screener. We'll examine a selection from our screener results. Simply Wall St Value Rating: ★★★★☆☆ Overview: Gorilla Technology Group Inc. offers solutions in security, network, business intelligence, and Internet of Things (IoT) technology across the Asia Pacific region, the Americas, Cayman Islands, and internationally with a market cap of $383.51 million. Operations: Gorilla Technology Group Inc. generates revenue primarily from its Security Convergence segment, contributing $88.16 million, and its Video IoT segment, adding $2.91 million. Gorilla Technology Group, a nimble player in the tech space, offers an intriguing mix of promise and caution. Recently profitable, its earnings are anticipated to grow by 4.2% annually. The company's price-to-earnings ratio stands at 20x, comfortably below the industry average of 42.9x, suggesting relative value for investors. With a net debt to equity ratio of 31%, its financial leverage is satisfactory and interest payments are well-covered by EBIT at a robust 326 times coverage. However, shareholders faced substantial dilution last year amid high non-cash earnings levels and volatile share prices over recent months. Take a closer look at Gorilla Technology Group's potential here in our health report. Explore historical data to track Gorilla Technology Group's performance over time in our Past section. Simply Wall St Value Rating: ★★★★★★ Overview: 1st Source Corporation, with a market cap of $1.66 billion, operates as the bank holding company for 1st Source Bank, offering commercial and consumer banking services, trust and wealth advisory services, and insurance products to individual and business clients. Operations: 1st Source generates revenue primarily from its commercial banking segment, amounting to $374.66 million. The company's market cap stands at approximately $1.66 billion. 1st Source, a financial entity with US$8.9 billion in assets and US$1.2 billion in equity, stands out for its solid fundamentals. The bank's total deposits are US$7.2 billion against loans of US$6.7 billion, reflecting sound financial health bolstered by a net interest margin of 3.6%. It maintains an impressive allowance for bad loans at 506%, with non-performing loans at just 0.4%, indicating robust risk management practices. Recently, the company repurchased shares worth US$0.18 million, potentially signaling confidence in its valuation as it trades significantly below estimated fair value by 56%. Earnings growth outpaced the industry last year by achieving a notable increase of 7.2%. Click to explore a detailed breakdown of our findings in 1st Source's health report. Learn about 1st Source's historical performance. Simply Wall St Value Rating: ★★★★★☆ Overview: China Yuchai International Limited, with a market cap of $421.10 million, operates through its subsidiaries to manufacture, assemble, and sell diesel and natural gas engines for various applications including trucks, buses, passenger vehicles, marine vessels, industrial equipment, construction machinery, agricultural tools, and generator sets in China and internationally. Operations: CYD generates revenue primarily from the sale of diesel and natural gas engines, catering to a diverse range of applications across various industries. The company's financial performance is influenced by its ability to manage production costs effectively, impacting its net profit margin. China Yuchai International, a small cap player in the machinery sector, has seen its earnings grow by 14.6% over the past year, outpacing the industry average of 12.8%. Despite an increase in its debt to equity ratio from 18.1% to 21.3% over five years, it holds more cash than total debt, indicating solid financial footing. The company trades at a substantial discount of 52% below estimated fair value and boasts high-quality earnings with no concerns about covering interest payments. Earnings are projected to rise by 7.12% annually, suggesting potential for continued growth and value realization in this space. Delve into the full analysis health report here for a deeper understanding of China Yuchai International. Review our historical performance report to gain insights into China Yuchai International's's past performance. Investigate our full lineup of 285 US Undiscovered Gems With Strong Fundamentals right here. Shareholder in one or more of these companies? Ensure you're never caught off-guard by adding your portfolio in Simply Wall St for timely alerts on significant stock developments. Simply Wall St is a revolutionary app designed for long-term stock investors, it's free and covers every market in the world. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqCM:GRRR NasdaqGS:SRCE and NYSE:CYD. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Associated Press
04-02-2025
- Business
- Associated Press
1st Source Bank Joins U.S. Faster Payments Council
South Bend, Indiana--(Newsfile Corp. - February 4, 2025) - 1st Source Bank (NASDAQ: SRCE) is pleased to announce that it has joined the U.S. Faster Payments Council (FPC). This industry-led membership organization is helping to shape the future of the U.S. national payment system. It was created so Americans can safely and securely pay anyone, anywhere, at any time with near-immediate funds availability. Additionally, it focuses on the larger goals of safety, security and adoption of all faster payments. This is not the first time that 1st Source Bank has stepped up as a leader in the instant payment space. 1st Source was one of the first banks to adopt the innovative FedNow Service at its launch in July 2023 with both send and receive capabilities for clients. FedNow, developed by the Federal Reserve, allows eligible depository institutions to provide instant payment services. Additionally, the Bank has been using the Real-time Payments (RTP®) platform from The Clearing House since March 2023. Now, with the addition of the FPC membership, 1st Source brings valuable insights to the table while putting themselves in a position to be on the cutting edge of faster payment technology information. '1st Source Bank takes pride in our leadership role in the instant payment space, and we are excited about joining the Faster Payments Council,' said Andrea Short, President & CEO of 1st Source Bank, and President of 1st Source Corporation. 'Our dedication to innovation will be bolstered by the diverse perspectives of this group of organizations as we tackle the complex intricacies of faster payments in the United States.' 'The Faster Payments Council is thrilled to have 1st Source Bank join as a member,' said Reed Luhtanen, Executive Director of the U.S. Faster Payments Council. '1st Source's commitment to improvement, modernization and collaboration in the instant payment space aligns well with the FPC's mission of making faster payments a reality for all in the United States. We welcome their expertise in the financial sector, and their knowledge of the FedNow Service and the instant payment space as a whole.' 1st Source Corporation, parent company of 1st Source Bank, has assets of $8.9 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 77 banking centers, 18 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Advisory Services locations, 10 1st Source Insurance offices, and three loan production offices. For more than 160 years, 1st Source has been committed to our mission of helping our clients achieve security, build wealth and realize their dreams. For more information, visit ### Contact: Hannah Nichols 574-235-2128
