Stellar Bancorp (STEL) Declares $0.13 Dividend
Stellar Bancorp said on May 25, 2023 that its board of directors declared a regular quarterly dividend of $0.13 per share ($0.52 annualized). Previously, the company paid $0.13 per share.
Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on June 30, 2023.
At the current share price of $23.62 / share, the stock's dividend yield is 2.20%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.81%, the lowest has been 1.34%, and the highest has been 2.67%. The standard deviation of yields is 0.27 (n=217).
The current dividend yield is 1.43 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.40. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.30%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 367 funds or institutions reporting positions in Stellar Bancorp. This is an increase of 69 owner(s) or 23.15% in the last quarter. Average portfolio weight of all funds dedicated to STEL is 0.13%, an increase of 25.37%. Total shares owned by institutions increased in the last three months by 11.36% to 30,046K shares.
Analyst Price Forecast Suggests 18.32% Upside
As of May 11, 2023, the average one-year price target for Stellar Bancorp is 27.95. The forecasts range from a low of 25.25 to a high of $32.55. The average price target represents an increase of 18.32% from its latest reported closing price of 23.62.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Stellar Bancorp is 490MM, an increase of 52.86%. The projected annual non-GAAP EPS is 3.39.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,283K shares representing 6.16% ownership of the company. In it's prior filing, the firm reported owning 3,294K shares, representing a decrease of 0.36%. The firm decreased its portfolio allocation in STEL by 19.12% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,363K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 1,350K shares, representing an increase of 0.92%. The firm decreased its portfolio allocation in STEL by 22.15% over the last quarter.
King Luther Capital Management holds 1,232K shares representing 2.31% ownership of the company. No change in the last quarter.
IWM - iShares Russell 2000 ETF holds 991K shares representing 1.86% ownership of the company. In it's prior filing, the firm reported owning 1,061K shares, representing a decrease of 7.05%. The firm decreased its portfolio allocation in STEL by 18.47% over the last quarter.
Geode Capital Management holds 896K shares representing 1.68% ownership of the company. In it's prior filing, the firm reported owning 865K shares, representing an increase of 3.54%. The firm decreased its portfolio allocation in STEL by 19.86% over the last quarter.
Stellar Bancorp Background Information
(This description is provided by the company.)
CBTX, Inc. is the bank holding company for CommunityBank of Texas, N.A., a $3.9 billion asset bank, offering commercial banking solutions to small and mid-sized businesses and professionals in Houston, Dallas, Beaumont and surrounding communities in Texas.
Key filings for this company:
This story originally appeared on Fintel.