Five Star Bancorp (NASDAQ:FSBC) Now Covered by Analysts at Raymond James

Raymond James initiated coverage on shares of Five Star Bancorp (NASDAQ:FSBC) in a report released on Thursday morning, Marketbeat reports. The brokerage issued an outperform rating and a $38.00 price objective on the stock.

Separately, Keefe, Bruyette & Woods increased their price objective on Five Star Bancorp from $33.00 to $37.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Five Star Bancorp Price Performance

Shares of FSBC traded up $0.12 during midday trading on Thursday, hitting $30.30. 28,008 shares of the company traded hands, compared to its average volume of 46,679. The stock has a 50-day moving average of $31.94 and a 200-day moving average of $28.64. Five Star Bancorp has a one year low of $21.10 and a one year high of $35.13. The firm has a market cap of $645.97 million, a P/E ratio of 13.29 and a beta of 0.45.

Five Star Bancorp (NASDAQ:FSBC) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.02). The business had revenue of $54.05 million for the quarter. Five Star Bancorp had a net margin of 21.35% and a return on equity of 12.80%. During the same quarter in the prior year, the firm earned $0.64 EPS. Sell-side analysts forecast that Five Star Bancorp will post 2.19 EPS for the current fiscal year.

Five Star Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.80 annualized dividend and a yield of 2.64%. Five Star Bancorp’s payout ratio is 35.09%.

Insider Buying and Selling

In other Five Star Bancorp news, SVP Michael Eugene Lee sold 1,500 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $30.67, for a total value of $46,005.00. Following the transaction, the senior vice president now directly owns 36,765 shares of the company’s stock, valued at approximately $1,127,582.55. This trade represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 25.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FSBC. Bank of New York Mellon Corp lifted its position in shares of Five Star Bancorp by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 88,589 shares of the company’s stock valued at $2,095,000 after buying an additional 8,991 shares in the last quarter. Rhumbline Advisers increased its stake in Five Star Bancorp by 30.3% in the 2nd quarter. Rhumbline Advisers now owns 23,856 shares of the company’s stock worth $564,000 after acquiring an additional 5,542 shares during the last quarter. TD Asset Management Inc increased its stake in Five Star Bancorp by 26.2% in the 2nd quarter. TD Asset Management Inc now owns 57,696 shares of the company’s stock worth $1,365,000 after acquiring an additional 11,990 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Five Star Bancorp in the 2nd quarter worth approximately $124,000. Finally, American Century Companies Inc. increased its stake in Five Star Bancorp by 116.5% in the 2nd quarter. American Century Companies Inc. now owns 111,711 shares of the company’s stock worth $2,642,000 after acquiring an additional 60,118 shares during the last quarter. 46.94% of the stock is owned by hedge funds and other institutional investors.

About Five Star Bancorp

Five Star Bancorp operates as the bank holding company for Five Star Bank that provides a range of banking products and services to small and medium-sized businesses, professionals, and individuals in Northern California. It accepts various deposits, such as money market accounts, noninterest-bearing and interest checking accounts, savings accounts, term certificate accounts, and time deposits.