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Here's What Key Metrics Tell Us About Stellar Bancorp (STEL) Q2 Earnings
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For the quarter ended June 2023, Stellar Bancorp (STEL - Free Report) reported revenue of $113.76 million, up 196.1% over the same period last year. EPS came in at $0.66, compared to $0.48 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $116.97 million, representing a surprise of -2.74%. The company delivered an EPS surprise of -4.35%, with the consensus EPS estimate being $0.69.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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): 4.49% versus 4.6% estimated by three analysts on average.
Efficiency Ratio: 60.83% versus 56.2% estimated by three analysts on average.
Average Balance - Total interest-earning assets: $9.69 billion versus $9.63 billion estimated by two analysts on average.
Net Interest Income: $108.28 million compared to the $110.35 million average estimate based on three analysts.
Net Interest Income (tax equivalent): $108.51 million versus the three-analyst average estimate of $110.14 million.
Total Non-Interest Income: $5.48 million versus $7.03 million estimated by three analysts on average.
Shares of Stellar Bancorp have returned +12.6% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Here's What Key Metrics Tell Us About Stellar Bancorp (STEL) Q2 Earnings
For the quarter ended June 2023, Stellar Bancorp (STEL - Free Report) reported revenue of $113.76 million, up 196.1% over the same period last year. EPS came in at $0.66, compared to $0.48 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $116.97 million, representing a surprise of -2.74%. The company delivered an EPS surprise of -4.35%, with the consensus EPS estimate being $0.69.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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): 4.49% versus 4.6% estimated by three analysts on average.
- Efficiency Ratio: 60.83% versus 56.2% estimated by three analysts on average.
- Average Balance - Total interest-earning assets: $9.69 billion versus $9.63 billion estimated by two analysts on average.
- Net Interest Income: $108.28 million compared to the $110.35 million average estimate based on three analysts.
- Net Interest Income (tax equivalent): $108.51 million versus the three-analyst average estimate of $110.14 million.
- Total Non-Interest Income: $5.48 million versus $7.03 million estimated by three analysts on average.
View all Key Company Metrics for Stellar Bancorp here>>>Shares of Stellar Bancorp have returned +12.6% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.