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MARKETS LIVE BLOG:

STOCKS MIXED AS DOW EYES GAIN FOR 8TH STRAIGHT SESSION

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Stellar Bancorp (STEL) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2 min read

Stellar Bancorp (STEL) reported $108.41 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 12.1%. EPS of $0.49 for the same period compares to $0.70 a year ago.

The reported revenue represents a surprise of +1.89% over the Zacks Consensus Estimate of $106.4 million. With the consensus EPS estimate being $0.48, the EPS surprise was +2.08%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Stellar Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net interest margin (tax equivalent): 4.3% versus the three-analyst average estimate of 4.3%.

  • Efficiency Ratio: 66.2% versus the three-analyst average estimate of 66.3%.

  • Total nonperforming loans: $57.13 million versus the two-analyst average estimate of $39.85 million.

  • Average Balance - Total interest-earning assets: $9.65 billion versus $9.52 billion estimated by two analysts on average.

  • Net charge-offs (recoveries) to average loans (annualized): 0% versus 0.2% estimated by two analysts on average.

  • Total nonperforming assets: $57.13 million versus the two-analyst average estimate of $39.85 million.

  • Net Interest Income: $102.12 million compared to the $101.97 million average estimate based on three analysts.

  • Net Interest Income (tax equivalent): $102.21 million versus the three-analyst average estimate of $102.17 million.

  • Total Non-Interest Income: $6.30 million versus the three-analyst average estimate of $4.43 million.

View all Key Company Metrics for Stellar Bancorp here>>>

Shares of Stellar Bancorp have returned -2% over the past month versus the Zacks S&P 500 composite's -3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Stellar Bancorp, Inc. (STEL) : Free Stock Analysis Report

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Zacks Investment Research