Five Star Bancorp (NASDAQ:FSBC) Sets New 12-Month High on Strong Earnings

Shares of Five Star Bancorp (NASDAQ:FSBC) hit a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $36.00 and last traded at $35.58, with a volume of 76268 shares changing hands. The stock had previously closed at $35.63.

The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. Five Star Bancorp had a net margin of 23.18% and a return on equity of 14.09%. The business had revenue of $41.31 million for the quarter, compared to the consensus estimate of $40.34 million. During the same period in the previous year, the firm earned $0.52 EPS.

Five Star Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, November 3rd. Five Star Bancorp’s dividend payout ratio is 32.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Janney Montgomery Scott initiated coverage on Five Star Bancorp in a report on Friday, October 10th. They issued a “buy” rating and a $37.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Five Star Bancorp in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price objective on Five Star Bancorp from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, July 28th. Finally, DA Davidson upped their price objective on shares of Five Star Bancorp from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Five Star Bancorp presently has an average rating of “Moderate Buy” and an average target price of $35.40.

Insider Buying and Selling

In other Five Star Bancorp news, COO Lydia Ann Ramirez-Medina sold 825 shares of Five Star Bancorp stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $30.94, for a total transaction of $25,525.50. Following the transaction, the chief operating officer owned 11,960 shares of the company’s stock, valued at $370,042.40. The trade was a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 25.57% of the company’s stock.

Institutional Trading of Five Star Bancorp

Several institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new position in Five Star Bancorp in the 3rd quarter valued at approximately $27,000. CWM LLC grew its holdings in shares of Five Star Bancorp by 375.9% during the 2nd quarter. CWM LLC now owns 1,047 shares of the company’s stock valued at $30,000 after acquiring an additional 827 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Five Star Bancorp in the second quarter worth $34,000. Raymond James Financial Inc. purchased a new stake in shares of Five Star Bancorp during the second quarter worth $64,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Five Star Bancorp by 65.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,435 shares of the company’s stock worth $98,000 after acquiring an additional 1,359 shares in the last quarter. 46.94% of the stock is currently owned by institutional investors and hedge funds.

Five Star Bancorp Stock Up 4.6%

The business has a 50-day moving average of $32.84 and a 200-day moving average of $30.14. The stock has a market cap of $795.61 million, a price-to-earnings ratio of 13.79 and a beta of 0.51.

Five Star Bancorp Company 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.