Stellar Bancorp (STEL) Beats Q2 Earnings and Revenue Estimates

Company Performance - Stellar Bancorp reported quarterly earnings of $0.56 per share, exceeding the Zacks Consensus Estimate of $0.48 per share, but down from $0.66 per share a year ago [1] - The company posted revenues of $106.83 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.50%, but down from $113.76 million year-over-year [4] - The earnings surprise for the quarter was 16.67%, with a previous quarter's earnings of $0.49 per share also exceeding expectations [3] Market Comparison - Stellar Bancorp shares have declined approximately 1.2% since the beginning of the year, while the S&P 500 has gained 13.2% [5] - The current consensus EPS estimate for the upcoming quarter is $0.47 on revenues of $107.47 million, and for the current fiscal year, it is $1.93 on revenues of $430.23 million [9] Industry Outlook - The Zacks Industry Rank for Banks - Southeast is in the top 37% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [10] - National Bankshares, another company in the same industry, is expected to report quarterly earnings of $0.32 per share, reflecting a year-over-year decline of 51.5% [11]