Stellarone Corp (STEL) to Issue Quarterly Dividend of $0.15 on June 26th

Stellarone Corp (NYSE:STEL) declared a quarterly dividend on Wednesday, May 20th. Investors of record on Monday, June 15th will be paid a dividend of 0.15 per share by the financial services provider on Friday, June 26th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, June 15th.

Stellarone has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 1 years. Stellarone has a payout ratio of 30.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Stellarone to earn $2.35 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 25.5%.

Stellarone Trading Up 1.1%

Shares of STEL opened at $38.84 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.98 billion, a P/E ratio of 18.95 and a beta of 0.70. The stock’s fifty day simple moving average is $37.40 and its 200 day simple moving average is $35.55. Stellarone has a twelve month low of $26.30 and a twelve month high of $40.21.

Stellarone (NYSE:STEL) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. The business had revenue of $111.04 million for the quarter, compared to analyst estimates of $108.41 million. Stellarone had a return on equity of 6.54% and a net margin of 17.56%.The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. On average, equities research analysts forecast that Stellarone will post 2.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Stellarone from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Stellarone Company Profile

StellarOne Corporation is a bank holding company of StellarOne Bank (the Bank). The Bank is an independent commercial bank holding company. It offers services provided by full-service banks, including individual and commercial demand and time deposit accounts, commercial and consumer loans, residential mortgages, credit card services and deposit services. The Bank, through its commercial banking segment, offers Internet banking access for banking services, mobile banking and online bill payment for both consumers and commercial customers.