Stellar Bancorp announces new buyback for up to $65M

Stellar Bancorp (STEL) “announced that its Board of Directors authorized a new share repurchase program under which the Company may repurchase up to $65 million of the Company’s common stock through May 31, 2026. In May of 2024, the Company announced a share repurchase program under which the Company was authorized to repurchase up to $60 million of the Company’s common stock through May 31, 2025 that terminated upon approval of the 2025-2026 Repurchase Program. Prior to termination of the 2024-2025 Repurchase Program, the Company repurchased 108,900 shares at a weighted average price of $26.10 during the third quarter of 2024, 1,378,962 shares at a weighted average price per share of $27.99 during the first quarter of 2025 and 679,331 shares at a weighted average price of $25.83 per share following the end of the first quarter of 2025 through termination of the 2024-2025 Repurchase Program.”