Tearsheet

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 2.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.9%, FCF Yield is 13%
Trading close to highs
Dist 52W High is -4.7%, Dist 3Y High is -4.7%
Key risks
SRCE key risks include [1] elevated credit risk due to its significant concentration in commercial and commercial real estate loans.
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -39%
Weak multi-year price returns
3Y Excs Rtn is -20%
 
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 51%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 49%
  
3 Low stock price volatility
Vol 12M is 24%
  
4 Capital ratio is >2x the minimum of 6%
Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 15%
  
5 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Wealth Management Technology.
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 2.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.9%, FCF Yield is 13%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -39%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 51%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 49%
3 Low stock price volatility
Vol 12M is 24%
4 Capital ratio is >2x the minimum of 6%
Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 15%
5 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Wealth Management Technology.
6 Trading close to highs
Dist 52W High is -4.7%, Dist 3Y High is -4.7%
7 Weak multi-year price returns
3Y Excs Rtn is -20%
8 Key risks
SRCE key risks include [1] elevated credit risk due to its significant concentration in commercial and commercial real estate loans.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

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1st Source (SRCE) stock has gained about 10% since 11/30/2025 because of the following key factors:

1. Strong Q4 2025 Earnings Performance Exceeding Expectations.

1st Source Corporation reported record net income of $158.28 million for the full year 2025, a 19.34% increase from 2024. For the fourth quarter of 2025, net income rose by 30.87% to $41.14 million compared to the fourth quarter of 2024, with diluted net income per common share for the quarter increasing by 31.50% to $1.67. This strong performance, with revenue up 13.3% year over year and net interest income and EPS ahead of analyst expectations, highlighted the company's financial health.

2. Consistent Shareholder Returns Through Dividend Growth.

The company announced a cash dividend of $0.40 per common share for the fourth quarter of 2025, an 11.11% increase from the prior year's dividend. This dividend declaration marked 38 consecutive years of dividend growth and the fifth straight year of record net income, reinforcing investor confidence in its stable and shareholder-friendly policies.

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Stock Movement Drivers

Fundamental Drivers

The 9.2% change in SRCE stock from 11/30/2025 to 3/14/2026 was primarily driven by a 3.3% change in the company's Net Income Margin (%).
(LTM values as of)113020253142026Change
Stock Price ($)62.0867.789.2%
Change Contribution By: 
Total Revenues ($ Mil)4214343.1%
Net Income Margin (%)35.3%36.5%3.3%
P/E Multiple10.210.42.2%
Shares Outstanding (Mil)24240.3%
Cumulative Contribution9.2%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/14/2026
ReturnCorrelation
SRCE9.2% 
Market (SPY)-3.1%18.6%
Sector (XLF)-8.3%46.1%

Fundamental Drivers

The 6.5% change in SRCE stock from 8/31/2025 to 3/14/2026 was primarily driven by a 6.3% change in the company's Total Revenues ($ Mil).
(LTM values as of)83120253142026Change
Stock Price ($)63.6267.786.5%
Change Contribution By: 
Total Revenues ($ Mil)4084346.3%
Net Income Margin (%)34.6%36.5%5.4%
P/E Multiple11.110.4-5.5%
Shares Outstanding (Mil)25240.6%
Cumulative Contribution6.5%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/14/2026
ReturnCorrelation
SRCE6.5% 
Market (SPY)3.0%24.3%
Sector (XLF)-9.1%51.6%

Fundamental Drivers

The 7.1% change in SRCE stock from 2/28/2025 to 3/14/2026 was primarily driven by a 12.1% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820253142026Change
Stock Price ($)63.2967.787.1%
Change Contribution By: 
Total Revenues ($ Mil)38743412.1%
Net Income Margin (%)34.3%36.5%6.5%
P/E Multiple11.710.4-10.7%
Shares Outstanding (Mil)25240.5%
Cumulative Contribution7.1%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/14/2026
ReturnCorrelation
SRCE7.1% 
Market (SPY)12.4%52.4%
Sector (XLF)-5.3%63.9%

Fundamental Drivers

The 47.1% change in SRCE stock from 2/28/2023 to 3/14/2026 was primarily driven by a 22.3% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820233142026Change
Stock Price ($)46.0867.7847.1%
Change Contribution By: 
Total Revenues ($ Mil)35543422.3%
Net Income Margin (%)34.0%36.5%7.4%
P/E Multiple9.410.410.8%
Shares Outstanding (Mil)25241.1%
Cumulative Contribution47.1%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/14/2026
ReturnCorrelation
SRCE47.1% 
Market (SPY)73.4%43.0%
Sector (XLF)43.1%61.8%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
SRCE Return26%10%6%9%10%9%92%
Peers Return18%-30%30%1%26%0%38%
S&P 500 Return27%-19%24%23%16%-1%80%

Monthly Win Rates [3]
SRCE Win Rate67%33%50%42%67%67% 
Peers Win Rate33%47%58%44%75%43% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
SRCE Max Drawdown-2%-12%-23%-13%-8%-0% 
Peers Max Drawdown-8%-38%-27%-17%-9%-5% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-2% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: NEWT, ATLO, AGBK, HYNE, NU.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/13/2026 (YTD)

How Low Can It Go

Unique KeyEventSRCES&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-31.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven46.9%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven439 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-47.5%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven90.4%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven654 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-34.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven52.7%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven1,402 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-56.1%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven127.6%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1,745 days1,480 days

Compare to NEWT, ATLO, AGBK, HYNE, NU

In The Past

1st Source's stock fell -31.9% during the 2022 Inflation Shock from a high on 11/10/2022. A -31.9% loss requires a 46.9% gain to breakeven.

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Asset Allocation

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About 1st Source (SRCE)

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. The company also offers commercial, small business, agricultural, and real estate loans for general corporate purposes, including financing for industrial and commercial properties, equipment, inventories, accounts receivables, and renewable energy and acquisition financing; and commercial leasing, treasury management, and retirement planning services. In addition, it provides trust, investment, agency, and custodial services comprising administration of estates and personal trusts, as well as management of investment accounts for individuals, employee benefit plans, and charitable foundations. Further, the company offers equipment loan and lease products for construction equipment, new and pre-owned aircraft, auto and light trucks, and medium and heavy duty trucks; and finances construction equipment, aircrafts, medium and heavy duty trucks, step vans, vocational work trucks, motor coaches, shuttle buses, funeral cars, automobiles, and other equipment. Additionally, it provides corporate and personal property, casualty, and individual and group health and life insurance products and services. As of December 31, 2021, the company operated through 79 banking centers in 18 counties in Indiana and Michigan, as well as Sarasota County in Florida. 1st Source Corporation was founded in 1863 and is headquartered in South Bend, Indiana.

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Here are 1-3 brief analogies for 1st Source (SRCE):

  • A smaller, regional version of PNC Financial Services.
  • Like U.S. Bank, but primarily focused on Indiana, Michigan, and Florida.

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  • Consumer Banking Services: Provides checking and savings accounts, certificates of deposit, individual retirement accounts, consumer loans, and mortgage loans for individual clients.
  • Commercial and Business Banking Services: Offers commercial, small business, and agricultural loans, real estate loans, commercial leasing, and treasury management services to businesses.
  • Specialized Equipment Financing: Delivers loans and lease products specifically for construction equipment, aircraft, various types of trucks, motor coaches, and other vehicles.
  • Wealth Management and Trust Services: Administers estates and personal trusts, and manages investment accounts for individuals, employee benefit plans, and charitable foundations.
  • Insurance Products: Sells corporate and personal property, casualty, individual, and group health and life insurance products.
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Major Customers of 1st Source (SRCE)

1st Source (SRCE) serves a diverse client base, including both individuals and businesses. Based on the comprehensive description of its consumer banking services, alongside its commercial offerings, a significant portion of its services caters directly to individuals. As the company's description does not list specific business customers, and it provides extensive personal financial services, it is appropriate to describe its major individual customer categories.

Categories of Individual Customers:

  • General Consumers: This category includes individuals utilizing fundamental banking services such as checking and savings accounts, certificates of deposit, individual retirement accounts, debit and credit cards, and online/mobile banking products. It also covers those seeking general consumer loans.
  • Homeowners and Real Estate Purchasers: Individuals who require financing for residential properties, including real estate mortgage loans and home equity lines of credit, represent a significant customer group for the bank.
  • Wealth Management and Trust Clients: This segment comprises individuals and families who leverage 1st Source for financial planning, investment account management, administration of estates and personal trusts, and other comprehensive wealth advisory services.

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Andrea G. Short, Chief Executive Officer and President

Andrea G. Short became President and Chief Executive Officer of 1st Source Corporation in 2025. She has over 40 years of banking and business experience, with 26 years at 1st Source. Prior to her current role, she served as President of 1st Source Corporation since 2024 and CEO of 1st Source Bank since 2022. She also held the position of Executive Vice President, Treasurer, and Chief Financial Officer of the Company and Bank from 2013. Before joining 1st Source, Ms. Short worked at Crowe LLP and First of America Bank (now PNC).

Brett A. Bauer, Executive Vice President, Treasurer, and Chief Financial Officer

Brett A. Bauer serves as the Executive Vice President, Treasurer, and Chief Financial Officer for 1st Source Corporation and 1st Source Bank. He is responsible for the finance and accounting functions, business financial analysis, asset and liability management, wholesale and corporate funding, capital management, investor relations, loan review, and risk management. Mr. Bauer began his career at 1st Source as a Corporate Trainee in 1999 and became a Trust Investment Analyst in 2000. From 2002 to 2006, he worked for Bear Stearns Japan LTD before rejoining 1st Source. He was promoted to his current CFO and Treasurer role in July 2021.

Christopher J. Murphy III, Executive Chairman

Christopher J. Murphy III is the Executive Chairman of 1st Source Corporation and 1st Source Bank, a position he assumed in 2025. He previously served as Chairman of the Board, President, and Chief Executive Officer. Mr. Murphy has over 52 years of banking and business experience, having served as a Director and/or President and Chief Executive Officer of 1st Source Corporation or 1st Source Bank for 52 years. In 1972, he joined his father-in-law and other investors to acquire the bank in South Bend. He was named President and CEO of the bank in 1977, CEO of the corporation in 1979, and Chairman in 1998. Before joining 1st Source, he worked at Citibank and for the Office of the Comptroller of the Currency, U.S. Department of the Treasury. He is credited with growing 1st Source Bank from over US$100 million in assets at the time of its community acquisition to US$8 billion today.

Kevin C. Murphy, Executive Vice President, 1st Source Corporation and President, 1st Source Bank

Kevin C. Murphy is an Executive Vice President of 1st Source Corporation and the President of 1st Source Bank, a role he assumed effective October 1, 2025. He represents the fourth generation of family leadership. Prior to this, he was Chief Digital Officer and Executive Vice President. Since officially joining the bank in 2006, Mr. Murphy has held various management roles across different areas, including IT, community banking, and digital strategy.

Jeffrey L. Buhr, Executive Vice President and Chief Credit Officer, 1st Source Bank

Jeffrey L. Buhr holds the position of Executive Vice President and Chief Credit Officer for 1st Source Bank. He began his career at 1st Source in 2001 as Vice President and Senior Credit Administrator. He was subsequently promoted to Senior Vice President in 2002 and then to Chief Credit Officer in 2009.

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The key risks to 1st Source Corporation (SRCE) are primarily centered around its operations as a regional bank, including its reliance on technology, interest rate environment, and loan portfolio quality.
  1. Cybersecurity Threats: As a financial institution providing online and mobile banking services, 1st Source Corporation faces significant and evolving cybersecurity risks. The increasing sophistication of cyberattacks, coupled with the financial industry's reliance on technology, heightens the potential for data breaches, operational disruptions, and reputational damage. Community banks, in particular, may have fewer resources than larger institutions to combat these advanced threats, making robust security systems and continuous monitoring crucial.
  2. Net Interest Margin Pressure and Intense Competition: 1st Source Corporation's profitability, like other regional banks, is highly sensitive to changes in interest rates and faces intense competition. The banking sector is highly competitive, with pressure from larger banks, credit unions, and non-bank financial service providers. Regional banks can experience challenges when deposit costs remain stubbornly high while lending rates may fall, leading to a squeeze on net interest margins. This "deposit paradox" and the broader economic environment can significantly impact net interest income, which is a primary driver of bank profitability.
  3. Credit Risk: Given 1st Source Corporation's extensive lending activities, which include commercial, small business, agricultural, real estate, and specialty equipment loans, credit risk is an inherent and significant concern. Credit risk is the potential for losses if borrowers default on their loans or fail to make timely payments. Community banks often have a higher concentration of loans to small businesses and individuals, which can increase their exposure. The company's loan portfolio is heavily weighted towards commercial loans (approximately 80%), making it particularly vulnerable to economic downturns or sector-specific challenges that could affect its commercial borrowers.

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  • The proliferation of digital-only banks (neobanks and fintechs) that offer consumer and small business banking services with lower overhead, superior digital user experiences, and often more competitive rates, directly challenging 1st Source's traditional, branch-based banking model for deposits, consumer loans, and small business banking.
  • The growth of robo-advisors and other low-cost online investment platforms that provide automated and accessible wealth management services, competing directly with 1st Source's trust and wealth advisory services, particularly for individual investment accounts.

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1st Source (SRCE) operates within several addressable markets in the financial services industry, including commercial banking, consumer banking, wealth management and trust services, and insurance products, primarily within the U.S. region. For equipment loans and leases, their market is also within the U.S.

Addressable Markets:

  • Commercial Banking Services: The U.S. commercial banking market size is estimated at USD 226.44 billion in 2024, with projections to reach USD 269.28 billion by 2029.
  • Consumer Banking Services: The U.S. retail banking market generated a revenue of USD 454.3 billion in 2024, and is expected to reach USD 678.3 billion by 2033.
  • Wealth Management Services: The U.S. wealth management market is considered "extraordinarily vast." Specifically, the U.S. market for wealth management platforms is projected to reach USD 0.6 billion by 2026.
  • Trust Services: The global custody and trust services market was valued at USD 6.29 billion in 2026. More broadly, the global trust and corporate service market was valued at US$ 13.86 billion in 2024 and is expected to reach US$ 20.05 billion by 2033.
  • Insurance Products: The U.S. insurance market size was USD 3.7 trillion in 2024, and is projected to grow to USD 9.1 trillion by 2032.
  • Equipment Loan and Lease Products: The equipment finance industry in the United States expanded to an estimated $1.34 trillion in 2023. Approximately 57.7% of the $2.3 trillion invested by U.S. businesses, nonprofits, and government agencies in plant, equipment, and software in 2023 was financed through loans, leases, and lines of credit.

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Expected Drivers of Future Revenue Growth for 1st Source (SRCE)

1st Source Corporation (SRCE) is anticipated to drive future revenue growth over the next 2-3 years through a combination of traditional banking expansion and strategic initiatives:

  1. Growth in Loans and Leases: The company has demonstrated consistent growth in its average loans and leases, which directly contributes to its interest income and overall revenue. Average loans and leases increased by 5.10% in 2025, reaching $6.93 billion, and this trend is expected to continue.
  2. Expansion of Net Interest Margin: Improving net interest income and expanding net interest margin are key factors in the company's profitability and revenue generation. The tax-equivalent net interest margin for 2025 was 4.07%, an increase of 43 basis points from the previous year, with a further expansion to 4.29% in the fourth quarter. This margin strength is a key buffer for future growth.
  3. Deposit Growth: An increase in average deposits enhances the bank's funding capacity for lending activities and supports overall financial health. Average deposits for 1st Source grew by 3.70% to $7.38 billion in 2025.
  4. Strategic Initiatives and Technology Enhancements: The launch of new digital platforms, such as the "Online & Mobile Banking for Business" platform, aims to provide small business owners with convenient banking solutions. Such technological advancements can attract and retain clients, thereby expanding the customer base and generating additional revenue. Management also emphasizes strategic leadership transitions to sustain long-term growth.
  5. Specialized Financing Solutions: 1st Source's focus on providing equipment loan and lease products for niche markets, including construction equipment, aircraft, auto and light trucks, and medium and heavy-duty trucks, represents a specialized area of growth. Continued penetration and expansion within these sectors are expected to contribute to future revenue.

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Share Repurchases

Information on the specific dollar amount of share repurchases made by 1st Source (SRCE) and any future authorized amounts over the last 3-5 years is not readily available in the provided search results.

Share Issuance

As of December 31, 2025, 1st Source had 24,330,147 shares in issue. In February 2026, a director of 1st Source, Melody Birmingham, purchased 51.129 shares at a price of $69.14 per share, using cash dividends received.

Outbound Investments

In 2025, 1st Source reported partnership investment gains related to the sale of renewable energy tax equity investments. During the fourth quarter of 2025, the company experienced a write-down of $0.77 million on a small business capital investment. 1st Source's Renewable Energy Financing Division provides construction loans, permanent loans, and tax equity investments for community solar, commercial & industrial, small utility scale, university, and municipal solar projects, with a focus on the Northeast and Midwest United States.

Capital Expenditures

Specific dollar values for 1st Source's capital expenditures over the last 3-5 years were not found in the provided search results.

Trade Ideas

Select ideas related to SRCE.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
NDAQ_2282026_Insider_Buying_45D_2Buy_200K02282026NDAQNasdaqInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days
0.0%0.0%0.0%
JEF_2272026_Dip_Buyer_ValueBuy02272026JEFJefferies FinancialDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
0.0%0.0%0.0%
PAYO_2272026_Dip_Buyer_High_CFO_Margins_ExInd_DE02272026PAYOPayoneer GlobalDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
0.0%0.0%0.0%
FOUR_2272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG02272026FOURShift4 PaymentsDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
0.0%0.0%0.0%
COIN_2202026_Dip_Buyer_High_CFO_Margins_ExInd_DE02202026COINCoinbase GlobalDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
2.6%2.6%-6.5%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

SRCENEWTATLOAGBKHYNENUMedian
Name1st Sour.NewtekOneAmes Nat.AGI Hoyne Ba.Nu  
Mkt Price67.7811.7926.659.3914.1113.8914.00
Mkt Cap1.70.30.2--67.21.0
Rev LTM43426963-149,600269
Op Inc LTM-------
FCF LTM213-52019--23,66619
FCF 3Y Avg192-22916--1,968104
CFO LTM223-51920--14,04020
CFO 3Y Avg202-22818--2,188110

Growth & Margins

SRCENEWTATLOAGBKHYNENUMedian
Name1st Sour.NewtekOneAmes Nat.AGI Hoyne Ba.Nu  
Rev Chg LTM12.1%21.8%18.0%--22.3%19.9%
Rev Chg 3Y Avg7.0%31.6%0.3%--62.1%19.3%
Rev Chg Q13.3%20.7%22.9%-37.1%30.2%22.9%
QoQ Delta Rev Chg LTM3.1%4.7%5.2%-7.8%7.1%5.2%
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM51.4%-193.4%31.5%--10.8%42.1%31.5%
CFO/Rev 3Y Avg50.8%-91.8%31.1%--21.7%26.4%
FCF/Rev LTM49.1%-193.4%30.8%--15.9%38.2%30.8%
FCF/Rev 3Y Avg48.4%-91.9%27.1%--18.7%22.9%

Valuation

SRCENEWTATLOAGBKHYNENUMedian
Name1st Sour.NewtekOneAmes Nat.AGI Hoyne Ba.Nu  
Mkt Cap1.70.30.2--67.21.0
P/S3.81.13.8--7.03.8
P/EBIT-------
P/E10.45.114.8--26.612.6
P/CFO7.4-0.612.0--16.69.7
Total Yield11.9%19.6%9.8%--3.8%10.8%
Dividend Yield2.3%0.0%3.0%--0.0%1.2%
FCF Yield 3Y Avg13.4%-76.6%8.6%--2.8%5.7%
D/E0.12.50.1--0.00.1
Net D/E-0.41.8-1.2---0.4-0.4

Returns

SRCENEWTATLOAGBKHYNENUMedian
Name1st Sour.NewtekOneAmes Nat.AGI Hoyne Ba.Nu  
1M Rtn-3.1%-9.1%-1.5%-8.0%-0.8%-18.5%-5.6%
3M Rtn3.6%0.4%12.6%-12.7%3.2%-17.8%1.8%
6M Rtn8.4%5.6%32.3%-12.7%0.8%-11.5%3.2%
12M Rtn13.8%3.4%54.2%-12.7%0.8%18.4%8.6%
3Y Rtn57.3%15.9%47.9%-12.7%0.8%212.8%31.9%
1M Excs Rtn0.9%-9.3%0.5%-10.3%0.8%-17.8%-4.4%
3M Excs Rtn4.5%5.2%16.2%-11.0%4.5%-15.2%4.5%
6M Excs Rtn3.8%1.2%28.2%-15.5%-2.1%-13.9%-0.5%
12M Excs Rtn-5.4%-18.2%32.9%-33.7%-20.2%6.5%-11.8%
3Y Excs Rtn-19.9%-72.5%-40.4%-82.4%-68.9%108.6%-54.7%

Comparison Analyses

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FDIC Bank Data

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Commercial Banking387369355337330
Total387369355337330


Price Behavior

Price Behavior
Market Price$67.78 
Market Cap ($ Bil)1.7 
First Trading Date09/03/1996 
Distance from 52W High-4.7% 
   50 Days200 Days
DMA Price$67.10$62.72
DMA Trendupup
Distance from DMA1.0%8.1%
 3M1YR
Volatility20.7%24.5%
Downside Capture30.7167.38
Upside Capture59.1168.66
Correlation (SPY)15.8%51.0%
SRCE Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta0.430.430.360.490.680.81
Up Beta0.241.111.221.070.590.79
Down Beta-0.26-0.43-0.330.280.770.80
Up Capture96%92%67%41%58%56%
Bmk +ve Days9203170142431
Stock +ve Days14243361122368
Down Capture40%38%21%42%82%95%
Bmk -ve Days12213054109320
Stock -ve Days7172862128380

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SRCE
SRCE15.7%24.4%0.54-
Sector ETF (XLF)3.6%19.3%0.0662.5%
Equity (SPY)19.6%18.9%0.8150.9%
Gold (GLD)71.9%26.3%2.05-10.1%
Commodities (DBC)19.3%17.3%0.898.5%
Real Estate (VNQ)6.2%16.3%0.1947.9%
Bitcoin (BTCUSD)-15.3%44.2%-0.2520.6%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SRCE
SRCE9.4%27.8%0.34-
Sector ETF (XLF)9.3%18.7%0.3861.9%
Equity (SPY)13.1%17.0%0.6143.1%
Gold (GLD)24.1%17.3%1.14-1.2%
Commodities (DBC)11.2%19.0%0.478.7%
Real Estate (VNQ)4.8%18.8%0.1643.8%
Bitcoin (BTCUSD)6.3%56.7%0.3318.2%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SRCE
SRCE10.6%30.5%0.39-
Sector ETF (XLF)12.5%22.2%0.5272.7%
Equity (SPY)14.5%17.9%0.7054.3%
Gold (GLD)14.4%15.6%0.77-7.0%
Commodities (DBC)8.6%17.6%0.4018.8%
Real Estate (VNQ)5.6%20.7%0.2350.5%
Bitcoin (BTCUSD)67.4%66.8%1.0713.9%

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Short Interest

Short Interest: As Of Date2272026
Short Interest: Shares Quantity0.3 Mil
Short Interest: % Change Since 2152026-0.7%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest2.5 days
Basic Shares Quantity24.4 Mil
Short % of Basic Shares1.1%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
1/23/2026-2.0%-1.8%1.3%
10/23/20253.6%1.2%6.2%
7/24/2025-1.8%-3.5%4.0%
4/24/20253.2%5.3%6.9%
1/23/2025-0.0%9.2%12.4%
10/24/2024-3.4%-0.4%12.1%
7/25/20244.9%0.2%-1.4%
4/25/20240.4%-0.7%-0.8%
...
SUMMARY STATS   
# Positive131216
# Negative11128
Median Positive2.6%5.4%7.5%
Median Negative-1.8%-3.2%-1.3%
Max Positive12.1%16.6%16.7%
Max Negative-8.0%-5.5%-6.1%

SEC Filings

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Report DateFiling DateFiling
12/31/202502/17/202610-K
09/30/202510/23/202510-Q
06/30/202507/24/202510-Q
03/31/202504/24/202510-Q
12/31/202402/18/202510-K
09/30/202410/24/202410-Q
06/30/202407/25/202410-Q
03/31/202404/25/202410-Q
12/31/202302/20/202410-K
09/30/202310/19/202310-Q
06/30/202307/20/202310-Q
03/31/202304/20/202310-Q
12/31/202202/16/202310-K
09/30/202210/20/202210-Q
06/30/202207/21/202210-Q
03/31/202204/21/202210-Q

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Buhr, Jeffrey LExecutive Vice PresidentDirectSell1215202566.141,17577,7144,525,960Form
2Griffith, John BExec VP / Secy 1st Source BankDirectSell1211202566.011,900125,4194,355,076Form
3Birmingham, Melody DirectBuy310202669.14513,535631,894Form
4Birmingham, Melody DirectBuy31020260.001  Form
5Birmingham, Melody DirectBuy31020260.001  Form