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1St Source ( (SRCE) ) has issued an update.
At its April 23, 2026 annual meeting, 1st Source Corporation shareholders approved amendments to three key compensation plans, shifting the Executive Incentive Plan and Strategic Deployment Incentive Plan from formula-based issuance limits to fixed share pools of 1,250,000 and 100,000 shares, respectively, and expanding the Restricted Stock Award Plan to 500,000 shares. The changes, which also add anti-dilution adjustments and remove now-obsolete tax references, are designed to enhance the company’s ability to grant equity and performance-based awards, while shareholders also re-elected four directors, gave advisory approval to executive pay, and ratified Forvis Mazars LLP as the independent auditor for 2026.
Shareholders elected Christopher J. Murphy III, Timothy K. Ozark, Todd F. Schurz, and Andrea G. Short to board terms expiring in April 2029, with the rest of the board continuing in office. They also strongly backed amendments to the incentive and restricted stock plans and confirmed Forvis Mazars LLP as 1st Source’s independent registered public accounting firm for the fiscal year ending December 31, 2026, signaling broad investor support for the company’s compensation framework and governance choices.
The most recent analyst rating on (SRCE) stock is a Hold with a $74.00 price target. To see the full list of analyst forecasts on 1St Source stock, see the SRCE Stock Forecast page.
Spark’s Take on SRCE Stock
According to Spark, TipRanks’ AI Analyst, SRCE is a Outperform.
The score is driven by solid financial performance (strong profitability/ROE and conservative leverage) and supportive technical momentum (price above key moving averages with positive MACD). An attractive valuation (low P/E plus dividend) further helps, while weaker TTM revenue and a notable drop in free cash flow temper the overall rating.
To see Spark’s full report on SRCE stock, click here.
More about 1St Source
1st Source Corporation operates as a financial services company, providing banking and related financial products to individuals, businesses, and institutional clients. The firm focuses on long-term shareholder value and uses equity-based and performance-linked incentive plans to attract, retain, and reward key executives and employees, aligning their interests with those of shareholders.
Average Trading Volume: 142,192
Technical Sentiment Signal: Buy
Current Market Cap: $1.8B
Learn more about SRCE stock on TipRanks’ Stock Analysis page.