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Stellar Bancorp (STEL)
NYSE:STEL
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Earnings Data
Report Date
Jan 30, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.49Last Year’s EPS
0.57Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Apr 30, 2019
|% Change Since: 8.12%
|Next Earnings Date:Jan 30, 2019
Earnings Call Sentiment|Positive
The earnings call for Stellar Bancorp's third quarter demonstrated strong financial performance with increased net income, improved capital ratios, and effective deposit cost management. However, challenges such as elevated net charge-offs, unexpected loan declines, and slightly higher noninterest expenses were noted. Overall, the highlights outweigh the lowlights, indicating a positive outlook.Company Guidance
During the Stellar Bancorp Q3 2024 earnings call, several key metrics were highlighted, reflecting the company's financial performance and strategic direction. The company reported a net income of $33.9 million, or $0.63 per diluted share, with an annualized return on average assets (ROAA) of 1.27% and a return on average tangible common equity (ROATCE) of 13.63%. This marked an improvement from the previous quarter's net income of $29.8 million, indicating a positive trend. A significant driver of this performance was a $6 million reversal of provision for credit losses, attributed to lower nonperforming loans and reduced specific allowances. Despite elevated net charge-offs of $3.9 million, the allowance for credit losses on loans decreased to $84.5 million, representing 1.12% of total loans. The net interest margin adjusted for purchase accounting accretion was 3.91%, slightly up from the prior quarter, with a net interest income of $101.5 million. Additionally, the bank's loan deposit ratio has been strategically reduced to approximately 86%, and the capital strength is evidenced by a total risk-based capital ratio of 15.91%. The company also highlighted a proactive approach to managing expenses, targeting a quarterly run rate of around $70 million, and is actively considering M&A opportunities to enhance growth and scale.Strong Financial Performance
Reported third quarter net income of $33.9 million or $0.63 per diluted share, with an annualized ROAA of 1.27% and an annualized ROATCE of 13.63%. This marks an improvement from the second quarter earnings of $29.8 million or $0.56 per diluted share.
Reduction in Nonperforming Loans
Nonperforming loans decreased by nearly 37% from $50.9 million to $32.1 million during the third quarter, improving the allowance coverage ratio to nonperforming loans from 186.2% to 262.9%.
Capital Strength and Share Repurchase
Total risk-based capital grew to 15.91% at the end of the third quarter from 14.02% at the end of 2023, and the company repurchased 108,000 shares at an average price of $26.10.
Improved Deposit Cost Management
Achieved a 3 basis point improvement in cost of funds, driven by a 5 basis point improvement in cost of interest-bearing liabilities.
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STEL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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STEL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 25, 2024 | $26.12 | $26.24 | +0.46% |
| Jul 26, 2024 | $27.26 | $27.66 | +1.47% |
| Apr 26, 2024 | $23.51 | $22.14 | -5.83% |
| Jan 26, 2024 | $25.99 | $26.05 | +0.23% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Stellar Bancorp (STEL) report earnings?
Stellar Bancorp (STEL) is schdueled to report earning on Jan 30, 2025, TBA Not Confirmed.
What is Stellar Bancorp (STEL) earnings time?
Stellar Bancorp (STEL) earnings time is at Jan 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is STEL EPS forecast?
STEL EPS forecast for the fiscal quarter 2024 (Q4) is 0.49.
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