Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in Five Star Bancorp (NASDAQ:FSBC)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Five Star Bancorp (NASDAQ:FSBC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,593 shares of the company’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Five Star Bancorp in the 3rd quarter valued at about $109,000. SG Americas Securities LLC grew its position in Five Star Bancorp by 18.7% during the fourth quarter. SG Americas Securities LLC now owns 7,261 shares of the company’s stock worth $218,000 after buying an additional 1,143 shares during the period. PDT Partners LLC purchased a new position in Five Star Bancorp in the third quarter valued at about $244,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Five Star Bancorp by 25.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,435 shares of the company’s stock valued at $667,000 after acquiring an additional 4,564 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Five Star Bancorp by 81.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,489 shares of the company’s stock worth $698,000 after acquiring an additional 10,547 shares in the last quarter. Institutional investors and hedge funds own 46.94% of the company’s stock.

Five Star Bancorp Stock Performance

Shares of NASDAQ:FSBC opened at $28.00 on Monday. The business’s fifty day moving average price is $30.05 and its two-hundred day moving average price is $30.54. The stock has a market cap of $597.21 million, a PE ratio of 12.28 and a beta of 0.48. Five Star Bancorp has a one year low of $21.10 and a one year high of $35.13.

Five Star Bancorp (NASDAQ:FSBC) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Five Star Bancorp had a return on equity of 12.89% and a net margin of 21.40%. As a group, equities research analysts predict that Five Star Bancorp will post 2.63 earnings per share for the current fiscal year.

Five Star Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.86%. Five Star Bancorp’s dividend payout ratio (DPR) is presently 35.09%.

Insider Activity

In other news, Director Donna Lucas bought 2,650 shares of the stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $28.43 per share, with a total value of $75,339.50. Following the purchase, the director now 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 at this link. Also, CEO James Eugene Beckwith sold 4,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $30.25, for a total value of $121,000.00. Following the completion of the transaction, the chief executive officer now owns 476,381 shares of the company’s stock, valued at $14,410,525.25. This trade represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 25.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FSBC shares. Keefe, Bruyette & Woods dropped their price objective on Five Star Bancorp from $37.00 to $35.00 and set a “market perform” rating for the company in a research note on Thursday, January 30th. DA Davidson restated a “buy” rating and issued a $38.50 price target on shares of Five Star Bancorp in a research report on Thursday, January 30th. Raymond James reiterated an “outperform” rating and issued a $35.00 price objective (down from $38.00) on shares of Five Star Bancorp in a research report on Wednesday, January 29th. Finally, Stephens restated an “overweight” rating and set a $37.00 target price on shares of Five Star Bancorp in a report on Tuesday, January 28th.

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.