Stellar Bancorp Inc Stock Price, News & Analysis

Stellar Bancorp (NYSE: STEL) reported Q4 2024 net income of $27.8 million ($0.52 per diluted share) and full-year 2024 net income of $117.6 million ($2.20 per diluted share). The company achieved a return on average assets of 1.10% and return on average equity of 7.50% for 2024.

Key financial metrics include a tax equivalent net interest margin of 4.24% for 2024 (down from 4.51% in 2023), and total risk-based capital ratio improvement to 16.06% from 14.02% year-over-year. Book value per share increased to $30.14 from $28.54, while nonperforming loans decreased to $37.2 million from $39.2 million.

Net interest income for 2024 decreased 6.6% to $408.0 million, while noninterest expense decreased 1.7% to $285.7 million. Total assets reached $10.91 billion, with total loans at $7.44 billion and deposits at $9.13 billion as of December 31, 2024.

Stellar Bancorp (NYSE: STEL) has scheduled its fourth quarter 2024 earnings conference call for Friday, January 31, 2025, at 8:00 a.m. Central Time (9:00 a.m. Eastern Time). The company will release its earnings report after market close on January 30, 2025.

Participants can register for the conference call through a provided link using conference ID 63586. The event will include a simultaneous webcast requiring pre-registration. For those unable to attend the live event, the webcast recording will be available in the Investor Relations section of Stellar's website.

Stellar Bancorp (NYSE: STEL) has announced an increase in its quarterly cash dividend. The company's Board of Directors has declared a dividend of $0.14 per share of common stock, representing a $0.01 increase from the previous quarterly dividend of $0.13. The dividend will be payable on December 31, 2024, to shareholders of record as of December 13, 2024.

Stellar Bancorp (NYSE: STEL) announced that its subsidiary, Stellar Bank, plans to redeem all of its $40.0 million Fixed-to-Floating Rate Subordinated Notes due December 15, 2027. The redemption price will be 100% of the principal amount plus any accrued and unpaid interest up to the redemption date. Noteholders will receive detailed instructions regarding the redemption process.

Stellar Bancorp (NYSE: STEL) reported Q3 2024 net income of $33.9 million, or $0.63 per diluted share, up from $29.8 million ($0.56 per share) in Q2 2024. The company achieved a 4.19% tax equivalent net interest margin and improved credit metrics with nonperforming loans decreasing by $18.8 million to $32.1 million. Total assets stood at $10.63 billion, with total loans at $7.55 billion and deposits at $8.74 billion. The company maintained strong capital ratios with a total risk-based capital ratio of 15.91%, while book value per share increased to $30.43.

Stellar Bancorp (NYSE: STEL) has announced its upcoming third quarter 2024 earnings release and conference call. The company will release its earnings report before the market opens on October 25, 2024. Following this, Stellar Bancorp will host a conference call at 8:00 a.m. Central Time (9:00 a.m. Eastern Time) on the same day to discuss the results.

Participants can register for the conference call online to receive dial-in information. A live webcast of the call will also be available, requiring pre-registration. For those unable to attend, the webcast will be accessible later via the company's Investor Relations website. The earnings release will be available on the company's website prior to the call.

Stellar Bancorp (NYSE: STEL) has announced a quarterly cash dividend of $0.13 per share of common stock. The dividend was declared by the company's Board of Directors on August 22, 2024. Shareholders of record as of the close of business on September 13, 2024, will be eligible to receive the dividend, which is scheduled for payment on September 30, 2024. This announcement demonstrates Stellar Bancorp's commitment to providing regular returns to its shareholders and may be indicative of the company's financial stability and confidence in its future performance.

Stellar Bancorp, Inc. (NYSE: STEL) reported net income of $29.8 million, or diluted earnings per share of $0.56, for the second quarter of 2024. This represents an increase from the first quarter's net income of $26.1 million, or $0.49 per share. The company's annualized return on average assets was 1.13%, with a return on average equity of 7.78%.

Key highlights include:

• Total risk-based capital ratio increased to 15.34%
• Tier 1 leverage ratio rose to 10.93%
• Tax equivalent net interest margin was 4.24%
• Net charge-offs were $715 thousand, or 0.02%, year-to-date

The company's focus remains on building capital, maintaining credit quality, and ensuring strong liquidity. Stellar's CEO, Robert R. Franklin, Jr., emphasized the bank's preparedness for potential interest rate changes and its strategic positioning in resilient markets.

Stellar Bancorp (NYSE: STEL) has announced its second quarter 2024 earnings release and conference call date. The company will issue the earnings release before the market opens on July 26, 2024. A conference call to discuss the results will follow at 8:00 a.m. Central Time (9:00 a.m. Eastern Time) on the same day. Both the earnings release and webcast of the conference call will be accessible through the Investor Relations section of Stellar Bancorp's website. Participants can register for the conference call via a specified link to receive dial-in information and a unique PIN.