Davis Asset Management L.P. Invests $73.59 Million in Five Star Bancorp $FSBC

Davis Asset Management L.P. acquired a new stake in Five Star Bancorp (NASDAQ:FSBC) in the 2nd quarter, HoldingsChannel reports. The fund acquired 1,511,500 shares of the company’s stock, valued at approximately $73,595,000. Five Star Bancorp makes up about 1.9% of Davis Asset Management L.P.’s investment portfolio, making the stock its 19th biggest holding. Davis Asset Management L.P. owned approximately 0.06% of Five Star Bancorp as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State of Wyoming acquired a new position in Five Star Bancorp during the second quarter worth $27,000. Russell Investments Group Ltd. acquired a new stake in Five Star Bancorp in the second quarter valued at $34,000. Quarry LP acquired a new stake in Five Star Bancorp in the third quarter valued at $40,000. State of Alaska Department of Revenue grew its position in shares of Five Star Bancorp by 154.6% in the 4th quarter. State of Alaska Department of Revenue now owns 2,177 shares of the company’s stock valued at $77,000 after acquiring an additional 1,322 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Five Star Bancorp in the 2nd quarter valued at about $64,000. 46.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Five Star Bancorp

In related news, Director Shannon Deary-Bell purchased 5,682 shares of the firm’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were acquired at an average price of $44.00 per share, for a total transaction of $250,008.00. Following the purchase, the director owned 85,244 shares in the company, valued at approximately $3,750,736. This represents a 7.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Judson Teichert Riggs purchased 2,273 shares of the firm’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was bought at an average price of $44.00 per share, for a total transaction of $100,012.00. Following the purchase, the director owned 87,531 shares in the company, valued at $3,851,364. The trade was a 2.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 142,727 shares of company stock worth $6,279,988 in the last ninety days. Insiders own 21.79% of the company’s stock.

Five Star Bancorp Price Performance

Shares of Five Star Bancorp stock opened at $45.15 on Friday. The business has a fifty day simple moving average of $47.19 and a two-hundred day simple moving average of $42.61. Five Star Bancorp has a 1 year low of $30.68 and a 1 year high of $50.26. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 13.36 and a beta of 0.53.

Five Star Bancorp (NASDAQ:FSBC) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. Five Star Bancorp had a net margin of 25.92% and a return on equity of 15.92%. The firm had revenue of $47.95 million for the quarter, compared to the consensus estimate of $47.72 million. As a group, equities analysts anticipate that Five Star Bancorp will post 3.52 earnings per share for the current fiscal year.

Five Star Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. Five Star Bancorp’s payout ratio is presently 29.59%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FSBC shares. DA Davidson boosted their price objective on shares of Five Star Bancorp from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Five Star Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, August 11th. Zacks Research cut Five Star Bancorp from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Keefe, Bruyette & Woods boosted their price target on Five Star Bancorp from $41.00 to $43.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. Finally, Stephens set a $51.00 price objective on Five Star Bancorp in a research note on Monday, July 27th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.20.

About Five Star Bancorp

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.