Five Star Bancorp (NASDAQ:FSBC) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE boosted its stake in Five Star Bancorp (NASDAQ:FSBC) by 22.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,448 shares of the company’s stock after buying an additional 3,938 shares during the quarter. Bank of America Corp DE owned approximately 0.10% of Five Star Bancorp worth $645,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets bought a new position in shares of Five Star Bancorp during the 4th quarter worth about $60,000. KLP Kapitalforvaltning AS bought a new stake in shares of Five Star Bancorp during the fourth quarter worth approximately $108,000. Intech Investment Management LLC bought a new stake in shares of Five Star Bancorp during the fourth quarter worth approximately $217,000. Riverwater Partners LLC bought a new stake in Five Star Bancorp in the fourth quarter valued at approximately $243,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Five Star Bancorp during the fourth quarter worth $259,000. Institutional investors own 46.94% of the company’s stock.

Insider Activity at Five Star Bancorp

In other Five Star Bancorp news, Director Donna Lucas purchased 2,650 shares of Five Star Bancorp stock in a transaction on Thursday, March 13th. The shares were acquired at an average cost of $28.43 per share, for a total transaction of $75,339.50. Following the completion of the transaction, the director now directly owns 12,076 shares of the company’s stock, valued at approximately $343,320.68. The trade was a 28.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 21.70% of the stock is currently owned by insiders.

Five Star Bancorp Trading Down 0.2%

NASDAQ FSBC opened at $27.76 on Tuesday. The company has a market cap of $592.09 million, a P/E ratio of 12.18 and a beta of 0.51. The company has a fifty day simple moving average of $27.34 and a 200 day simple moving average of $29.36. Five Star Bancorp has a 12-month low of $22.22 and a 12-month high of $35.13.

Five Star Bancorp (NASDAQ:FSBC) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Five Star Bancorp had a net margin of 21.40% and a return on equity of 12.89%. The company had revenue of $35.34 million for the quarter, compared to the consensus estimate of $35.27 million. Sell-side analysts predict that Five Star Bancorp will post 2.63 EPS for the current year.

Five Star Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, May 5th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Monday, May 5th. Five Star Bancorp’s dividend payout ratio is presently 35.09%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FSBC shares. Citigroup reissued an “outperform” rating on shares of Five Star Bancorp in a research report on Wednesday, April 30th. DA Davidson dropped their price objective on shares of Five Star Bancorp from $38.50 to $37.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Finally, Raymond James lowered their price target on shares of Five Star Bancorp from $35.00 to $31.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.00.

Five Star Bancorp Profile

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.