Stellar Bancorp (STEL) Q1 Earnings Top Estimates

Core Insights - Stellar Bancorp reported quarterly earnings of $0.46 per share, exceeding the Zacks Consensus Estimate of$ 0.44 per share, but down from $0.49 per share a year ago, representing an earnings surprise of 4.55% [1] - The company posted revenues of$ 104.76 million for the quarter, missing the Zacks Consensus Estimate by 0.67% and down from $108.41 million year-over-year [2] - The stock has lost approximately 4.8% year-to-date, compared to a decline of 6.8% in the S&P 500 [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is$ 0.44, with expected revenues of $106.8 million, and for the current fiscal year, the EPS estimate is$ 1.83 on revenues of $437.9 million [7] - The estimate revisions trend for Stellar Bancorp is favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Banks - Southeast industry, to which Stellar Bancorp belongs, is currently ranked in the top 17% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]