Compared to Estimates, Stellar Bancorp (STEL) Q3 Earnings: A Look at Key Metrics

Core Insights - Stellar Bancorp reported revenue of $107.81 million for Q3 2024, a year-over-year decline of 3.2% but a surprise of +1.87% over the Zacks Consensus Estimate of $105.83 million [1] - The EPS for the same period was $0.63, compared to $0.58 a year ago, with an EPS surprise of +28.57% against the consensus estimate of $0.49 [1] Financial Performance Metrics - Net interest margin (tax equivalent) was 4.2%, exceeding the three-analyst average estimate of 4.1% [1] - Efficiency Ratio stood at 66.2%, slightly better than the three-analyst average estimate of 66.6% [1] - Total nonperforming loans were reported at $32.14 million, significantly lower than the two-analyst average estimate of $51.14 million [1] - Average balance of total interest-earning assets was $9.64 billion, close to the $9.66 billion average estimate based on two analysts [1] - Total nonperforming assets were $35.12 million, compared to the two-analyst average estimate of $52.38 million [1] - Net Interest Income was $101.51 million, surpassing the $100.30 million estimated by three analysts on average [1] - Net Interest Income (tax equivalent) was $101.58 million, exceeding the three-analyst average estimate of $100.39 million [1] - Total Non-Interest Income was $6.30 million, higher than the $5.54 million estimated by three analysts on average [1] Stock Performance - Shares of Stellar Bancorp have returned +2.5% over the past month, outperforming the Zacks S&P 500 composite's +1.4% change [1] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [1]