Stellar Bancorp Inc (NYSE: STEL) said last week that its Board of Directors had authorized a quarterly cash dividend in the amount of $0.13 per share of common stock.
The dividend will be paid on March 29th to shareholders of record as of the close of business on March 18th 2024, the Houston, Texas-based bank holding company said.
Stock Performance
The shares of Stellar Bancorp Inc (STEL) closed 0.12% ($0.03) lower at $24.04 in New York on Friday, as they extended the losses from the previous four market sessions.
The bank holding company’s total market cap now stands at $1.281 billion.
The shares of Stellar Bancorp Inc (STEL) went down 5.50% in 2023, compared with a 10.99% gain for the benchmark index, NYSE Composite (NYA).
The bank holding company’s shares have retreated 13.65% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, all 2 surveyed investment analysts offering 12-month price targets for Stellar Bancorp Inc’s stock had rated the latter as “Hold”. The median price target on the stock stands at $27.50, which translates into a 14.39% upside compared to the closing price on Friday.
The high point of the analyst forecast range stands at $30.00.
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