State Street Corp Acquires 66,602 Shares of Five Star Bancorp (NASDAQ:FSBC)

State Street Corp grew its position in Five Star Bancorp (NASDAQ:FSBC) by 21.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 373,173 shares of the company’s stock after acquiring an additional 66,602 shares during the quarter. State Street Corp’s holdings in Five Star Bancorp were worth $11,094,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in Five Star Bancorp by 201.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 134,449 shares of the company’s stock valued at $3,997,000 after purchasing an additional 89,834 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Five Star Bancorp by 116.5% during the 2nd quarter. American Century Companies Inc. now owns 111,711 shares of the company’s stock valued at $2,642,000 after buying an additional 60,118 shares in the last quarter. Davis Asset Management L.P. increased its stake in shares of Five Star Bancorp by 3.4% during the second quarter. Davis Asset Management L.P. now owns 1,511,500 shares of the company’s stock worth $35,747,000 after purchasing an additional 50,000 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Five Star Bancorp by 32.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 160,558 shares of the company’s stock valued at $3,797,000 after purchasing an additional 39,256 shares during the last quarter. Finally, Mendon Capital Advisors Corp boosted its position in Five Star Bancorp by 320.7% during the second quarter. Mendon Capital Advisors Corp now owns 50,000 shares of the company’s stock worth $1,182,000 after acquiring an additional 38,116 shares during the last quarter. 46.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Five Star Bancorp

In related news, SVP Michael Eugene Lee sold 1,500 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $30.67, for a total value of $46,005.00. Following the completion of the transaction, the senior vice president now directly owns 36,765 shares of the company’s stock, valued at $1,127,582.55. This represents a 3.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 25.57% of the stock is owned by insiders.

Analysts Set New Price Targets

FSBC has been the topic of a number of analyst reports. Raymond James initiated coverage on shares of Five Star Bancorp in a research note on Thursday, December 19th. They set an “outperform” rating and a $38.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on Five Star Bancorp from $33.00 to $37.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Five Star Bancorp Stock Performance

Shares of NASDAQ FSBC opened at $30.59 on Thursday. The firm has a market cap of $652.15 million, a P/E ratio of 13.42 and a beta of 0.45. The firm’s 50 day moving average price is $31.95 and its 200 day moving average price is $28.90. Five Star Bancorp has a 1 year low of $21.10 and a 1 year high of $35.13.

Five Star Bancorp (NASDAQ:FSBC) last released its quarterly earnings data on Monday, October 28th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.02). The business had revenue of $54.05 million during the quarter. Five Star Bancorp had a return on equity of 12.80% and a net margin of 21.35%. During the same period in the prior year, the firm earned $0.64 earnings per share. As a group, equities analysts predict that Five Star Bancorp will post 2.19 EPS for the current year.

Five Star Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were issued a $0.20 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.62%. Five Star Bancorp’s dividend payout ratio (DPR) is 35.09%.

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.