1st Source Corp
In the published model solve dated 2026-Q2, anchored at $89.96, 1st Source Corp (SRCE) is priced for 12.4% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 11, 2026 from SEC EDGAR filings.
• 1st Source runs a $7 billion Indiana community bank with a national specialty-finance book attached: aircraft, construction equipment, and auto and truck fleets, a niche mix the FY2025 10-K describes with lease terms of ⟦"three to seven years"⟧ against liens on the underlying vehicles. • The biggest risk is the price itself: at $81.48 the market is paying roughly 1.5x book for a return on equity of about 11.8%, well above the roughly 9.5% the bank has recently earned, and the specialty portfol
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195 institutional managers reported holding SRCE in 13F filings for the quarter ended 2026-03-31. Together they hold about 73% of the company; the top 10 hold 53%. 22 opened new positions that quarter. Held by BlackRock, Dimensional Fund Advisors, Vanguard Group, among others. On the short side, 419k shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (3.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
SRCE has cut its share count 3.4% over the past five years, spending $69.44M on repurchases. It pays a dividend, and has paid one every year in our records (16 and counting), raised 10 years straight; the current rate is $1.52 a share annually. Cash returned over the past three years: $100.67M in dividends and $47.69M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at SRCE over the trailing three years: 2023: 2 buys totaling $5k; 2024: 5 buys totaling $61k; 2025: 4 buys totaling $13k; 2026: 1 buy totaling $4k. 16 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
SRCE's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-21 | +0.4% | -8.4% |
| 2023-10-20 | +2.4% | +25.8% |
| 2024-02-21 | +1.9% | +1.3% |
| 2024-04-26 | -3.2% | +8.7% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
SRCE's latest 8-K filings: 2026-08-05 (items 7.01, 9.01); 2026-07-23 (items 2.02, 9.01); 2026-05-01 (items 7.01, 9.01); 2026-04-24 (items 5.02, 5.07, 9.01); 2026-04-23 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.