Welcome to our dedicated page for Stellar Bancorp news (Ticker: STEL), a resource for investors and traders seeking the latest updates and insights on Stellar Bancorp stock.
Stellar Bancorp, Inc. (NYSE: STEL) is a Houston, Texas-based bank holding company for Stellar Bank, which provides commercial banking services primarily to small- to medium-sized businesses and individual customers in Texas. The news flow around Stellar Bancorp is closely tied to its financial performance, capital actions and regional banking activities.
On this page, readers will find news items such as quarterly earnings releases, where the company reports net income, net interest income, tax-equivalent net interest margin, loan and deposit trends, capital ratios and asset quality metrics. These releases often include management commentary on loan portfolio repositioning, including efforts to balance commercial and industrial and real estate loans while remaining within regulatory guidance.
Stellar Bancorp also issues press releases about its quarterly cash dividends, including announcements of dividend amounts and, when applicable, increases in the dividend per share. Additional news includes information on share repurchase activity, redemption of subordinated notes and other capital management decisions that the company discloses through press releases and related Form 8-K filings.
Investors can also see announcements regarding conference calls and webcasts for quarterly results, where Stellar’s management discusses financial performance and provides prepared remarks. Another notable category of news is listing-related information, such as the company’s announcement of a dual listing of its common stock on NYSE Texas while maintaining its primary listing on the New York Stock Exchange under the STEL ticker.
By reviewing the news items aggregated here, readers can monitor how Stellar Bancorp communicates its financial results, dividend decisions, capital actions and other material events related to its Texas-focused commercial banking business.
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.
Stellar Bancorp announced a quarterly cash dividend of $0.13 per share, payable on June 28, 2024, to shareholders of record as of June 14, 2024. Additionally, the Board of Directors authorized a new share repurchase program allowing the repurchase of up to $60 million of common stock through May 31, 2025. This follows an existing program also permitting $60 million in repurchases through May 31, 2024. Repurchases can be made in various forms, including open market transactions and block trades, depending on factors such as price, market conditions, and corporate priorities.
Stellar Bancorp, Inc., the holding company for Stellar Bank, was ranked third among the top performing U.S. public banks with more than $10 billion in total assets in S&P Global Market Intelligence's annual rankings for 2023. Stellar received better-than-median scores across seven ranking metrics, showcasing its strength and risk profile of balance sheets. The recognition highlights the team's dedication and success amidst industry challenges, with a focus on customer relationships and providing a stellar banking experience.
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