1st Source Corporation has increased its annualized dividend to $1.72 per share, a 13.2% rise from last year. The South Bend-based bank currently pays a quarterly dividend of $0.43 per share, yielding 2.1%, which is above the S&P 500's 1.39% but below the Banks - Midwest industry average of 2.47%. The company has raised its dividend five times over the past five years, averaging an annual increase of 5.67%, and maintains a payout ratio of 25%. Zacks Investment Research gives the stock a Zacks Rank of 2, or Buy, and estimates fiscal 2026 earnings of $6.81 per share, representing 6.24% growth.
1st Source CorporationDividend increase and Zacks Buy rating are positive financial/valuation events.