Short Interest in Five Star Bancorp (NASDAQ:FSBC) Declines By 13.2%

Five Star Bancorp (NASDAQ:FSBC) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 330,411 shares, a decline of 13.2% from the February 26th total of 380,490 shares. Currently, 2.1% of the company’s shares are short sold. Based on an average daily volume of 87,918 shares, the days-to-cover ratio is currently 3.8 days.

Analyst Ratings Changes

FSBC has been the topic of several research analyst reports. DA Davidson increased their target price on shares of Five Star Bancorp from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods lifted their price target on shares of Five Star Bancorp from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Five Star Bancorp in a report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Insider Buying and Selling

In other Five Star Bancorp news, SVP Michael Eugene Lee sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $39.30, for a total value of $47,160.00. Following the transaction, the senior vice president directly owned 35,272 shares of the company’s stock, valued at approximately $1,386,189.60. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Eugene Beckwith sold 4,000 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $36.66, for a total value of $146,640.00. Following the transaction, the chief executive officer owned 473,014 shares in the company, valued at $17,340,693.24. The trade was a 0.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 25.57% of the company’s stock.

Hedge Funds Weigh In On Five Star Bancorp

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Five Star Bancorp by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,904 shares of the company’s stock valued at $275,000 after acquiring an additional 390 shares during the last quarter. First Trust Advisors LP boosted its position in Five Star Bancorp by 3.4% in the second quarter. First Trust Advisors LP now owns 13,816 shares of the company’s stock worth $394,000 after purchasing an additional 458 shares during the last quarter. Inspire Investing LLC grew its stake in Five Star Bancorp by 3.6% in the 3rd quarter. Inspire Investing LLC now owns 14,114 shares of the company’s stock valued at $454,000 after purchasing an additional 491 shares during the period. Swiss National Bank grew its stake in Five Star Bancorp by 1.9% in the 4th quarter. Swiss National Bank now owns 31,596 shares of the company’s stock valued at $1,131,000 after purchasing an additional 600 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Five Star Bancorp during the 3rd quarter valued at $27,000. 46.94% of the stock is owned by institutional investors.

Five Star Bancorp Price Performance

NASDAQ FSBC opened at $37.59 on Tuesday. The company has a fifty day moving average price of $38.87 and a 200-day moving average price of $36.20. The firm has a market cap of $803.67 million, a price-to-earnings ratio of 12.96 and a beta of 0.52. Five Star Bancorp has a 1 year low of $22.22 and a 1 year high of $42.26.

Five Star Bancorp (NASDAQ:FSBC) last released its quarterly earnings results on Monday, January 26th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Five Star Bancorp had a net margin of 24.11% and a return on equity of 14.49%. The company had revenue of $40.67 million for the quarter, compared to analyst estimates of $42.58 million. On average, research analysts anticipate that Five Star Bancorp will post 2.63 EPS for the current fiscal year.

Five Star Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Monday, February 2nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. This is an increase from Five Star Bancorp’s previous quarterly dividend of $0.20. Five Star Bancorp’s payout ratio is 34.48%.

Five Star Bancorp Company Profile

Five Star Bancorp, Inc is the bank holding company for Five Star Bank, a community-focused financial institution serving retail and commercial customers primarily in Upstate New York. Headquartered in Rochester, the company provides a range of banking and financial services designed to meet the needs of individuals, families and businesses throughout its regional footprint.

The company’s core business activities include deposit services—such as checking, savings and money market accounts—alongside consumer and mortgage lending.