Five Star Bancorp (NASDAQ:FSBC) Director Robert Truxtun Perry-Smith Acquires 31,363 Shares of Stock

Five Star Bancorp (NASDAQ:FSBC) Director Robert Truxtun Perry-Smith acquired 31,363 shares of the business’s stock in a transaction on Wednesday, July 22nd. The shares were bought at an average cost of $44.00 per share, for a total transaction of $1,379,972.00. Following the acquisition, the director owned 258,898 shares of the company’s stock, valued at $11,391,512. This represents a 13.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Five Star Bancorp Trading Up 1.3%

Shares of NASDAQ:FSBC opened at $47.83 on Wednesday. The firm has a 50 day simple moving average of $45.83 and a 200-day simple moving average of $41.57. Five Star Bancorp has a twelve month low of $28.34 and a twelve month high of $50.26. The company has a market capitalization of $1.02 billion, a PE ratio of 14.15 and a beta of 0.53.

Five Star Bancorp (NASDAQ:FSBC) last posted its earnings results on Wednesday, July 22nd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Five Star Bancorp had a net margin of 25.92% and a return on equity of 16.17%. The firm had revenue of $47.95 million for the quarter, compared to the consensus estimate of $47.72 million. As a group, equities research analysts predict that Five Star Bancorp will post 3.58 EPS for the current fiscal year.

Five Star Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. Five Star Bancorp’s dividend payout ratio (DPR) is presently 29.59%.

Hedge Funds Weigh In On Five Star Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in FSBC. Deprince Race & Zollo Inc. raised its stake in Five Star Bancorp by 81.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 124,338 shares of the company’s stock valued at $4,449,000 after acquiring an additional 55,698 shares during the last quarter. Kennedy Capital Management LLC grew its stake in shares of Five Star Bancorp by 14.8% in the 4th quarter. Kennedy Capital Management LLC now owns 438,831 shares of the company’s stock valued at $15,701,000 after purchasing an additional 56,412 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of Five Star Bancorp by 348.0% in the first quarter. Inspire Investing LLC now owns 58,627 shares of the company’s stock valued at $2,211,000 after purchasing an additional 45,541 shares during the period. First Trust Advisors LP increased its holdings in shares of Five Star Bancorp by 3.4% in the second quarter. First Trust Advisors LP now owns 13,816 shares of the company’s stock valued at $394,000 after purchasing an additional 458 shares during the period. Finally, PharVision Advisers LLC acquired a new position in shares of Five Star Bancorp in the third quarter valued at approximately $241,000. Hedge funds and other institutional investors own 46.94% of the company’s stock.

Key Stories Impacting Five Star Bancorp

Here are the key news stories impacting Five Star Bancorp this week:

• Positive Sentiment: Multiple directors made significant open-market purchases. Five Star Bancorp directors collectively bought 142,727 shares for approximately $6.28 million at an average price of $44 per share. The largest purchase came from Larry Eugene Allbaugh, who bought 96,591 shares for about $4.25 million. Robert Truxtun Perry-Smith also purchased 31,363 shares, while four other directors made additional purchases. The transactions increased their respective holdings and may strengthen investor confidence in management’s outlook. SEC insider transaction filing
• Positive Sentiment: The company completed the full exercise of the underwriters’ overallotment option. Including the original offering, Five Star Bancorp sold 3,133,750 shares at $44 each and expects approximately $130.6 million in net proceeds before offering expenses. Management plans to use the funds for general corporate purposes, working capital, investments in Five Star Bank and potential growth opportunities. Offering closing announcement
• Negative Sentiment: The public offering creates near-term dilution. Issuing more than 3.1 million shares increases the company’s share count, which can dilute existing shareholders and potentially weigh on per-share metrics. However, the dilution is partially offset by the added capital, which could support loan growth and future earnings.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FSBC shares. Keefe, Bruyette & Woods upped their target price on Five Star Bancorp from $41.00 to $43.00 and gave the company a “market perform” rating in a research report on Friday, May 1st. Stephens set a $51.00 price objective on Five Star Bancorp in a research note on Monday. DA Davidson increased their price objective on Five Star Bancorp from $45.00 to $48.50 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Five Star Bancorp in a research report on Monday, June 1st. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.90.

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.