Stellar Bancorp, Inc. (NASDAQ:STEL) executive Justin M. Long, who serves as the Senior Executive Vice President, General Counsel, and Secretary, has sold a portion of his company stock, according to recent filings with the Securities and Exchange Commission. The transactions, which took place on May 24, 2024, involved the sale of 5,000 shares at a price of $22.88 per share, totaling $114,400.
The sale was executed in multiple transactions at the same price, as noted in the filings. Following the sale, Long still retains a substantial stake in the company, with 53,532 shares of Stellar Bancorp's common stock remaining in his possession. The company, which is classified under the National Commercial Banks sector, is incorporated in Texas and has its business address in Houston.
Stellar Bancorp has experienced changes in its corporate structure over the years, previously known as CBTX (NASDAQ:CBTX), Inc. and CBFH, Inc. before adopting its current name. The firm's fiscal year ends on December 31.
Investors often monitor the buying and selling activities of company executives as these transactions can provide insights into their confidence in the company's future prospects. The details provided in the SEC filings give a transparent view of such transactions, allowing shareholders and potential investors to stay informed about significant insider trades.
InvestingPro Insights
Amid the news of Stellar Bancorp, Inc.'s (NASDAQ:STEL) executive Justin M. Long selling a portion of his shares, investors may find additional context in the company's financial metrics and analyst expectations. According to InvestingPro data, Stellar Bancorp currently holds a market capitalization of $1.21 billion USD and boasts a revenue growth of 36.2% over the last twelve months as of Q1 2024. However, it's worth noting a quarterly revenue decline of 12.82% in Q1 2024, which could reflect some seasonal fluctuation or other market dynamics affecting the company's performance.
One of the key InvestingPro Tips highlights that Stellar Bancorp is trading at a low P/E ratio of 10.21 relative to its near-term earnings growth, with an adjusted P/E ratio of 9.64 over the last twelve months as of Q1 2024. This could suggest that the stock is undervalued compared to its earnings potential. Another tip to consider is that analysts predict the company will be profitable this year, which is consistent with the company's profitability over the last twelve months.
For investors looking for deeper analysis and more InvestingPro Tips on Stellar Bancorp, there are additional insights available on the platform. Currently, there are 4 more tips listed for Stellar Bancorp at Investing.com/pro/STEL, which could provide a more comprehensive understanding of the company's financial health and future outlook. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering even more value as they navigate their investment decisions.
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