Five Star Bancorp (NASDAQ:FSBC) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Five Star Bancorp (NASDAQ:FSBC) announced its quarterly earnings results on Wednesday. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05, FiscalAI reports. The company had revenue of $47.95 million for the quarter, compared to analysts’ expectations of $47.72 million. Five Star Bancorp had a net margin of 25.23% and a return on equity of 15.32%.

Five Star Bancorp Stock Performance

NASDAQ FSBC traded down $0.96 on Wednesday, hitting $48.37. 80,413 shares of the stock were exchanged, compared to its average volume of 99,328. The stock has a fifty day moving average price of $45.16 and a two-hundred day moving average price of $41.17. The firm has a market capitalization of $1.03 billion, a P/E ratio of 15.36 and a beta of 0.53. Five Star Bancorp has a 52-week low of $28.34 and a 52-week high of $50.26.

Five Star Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be given a $0.25 dividend. The ex-dividend date is Monday, August 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. Five Star Bancorp’s dividend payout ratio (DPR) is currently 31.75%.

Insider Buying and Selling at Five Star Bancorp

In other news, SVP Brett Levi Wait sold 2,583 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $41.11, for a total value of $106,187.13. Following the sale, the senior vice president owned 17,608 shares of the company’s stock, valued at approximately $723,864.88. This represents a 12.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Eugene Beckwith sold 6,428 shares of Five Star Bancorp stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $41.23, for a total transaction of $265,026.44. Following the transaction, the chief executive officer directly owned 466,586 shares of the company’s stock, valued at approximately $19,237,340.78. This represents a 1.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,692 shares of company stock worth $524,640 over the last quarter. Insiders own 21.79% of the company’s stock.

Institutional Trading of Five Star Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new stake in shares of Five Star Bancorp during the second quarter worth $34,000. Quarry LP bought a new position in shares of Five Star Bancorp in the third quarter worth about $40,000. Raymond James Financial Inc. purchased a new position in Five Star Bancorp in the 2nd quarter worth about $64,000. Tower Research Capital LLC TRC increased its stake in Five Star Bancorp by 65.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,435 shares of the company’s stock worth $98,000 after buying an additional 1,359 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Five Star Bancorp by 159.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,306 shares of the company’s stock valued at $123,000 after buying an additional 2,648 shares in the last quarter. Hedge funds and other institutional investors own 46.94% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Stephens increased their price objective on shares of Five Star Bancorp from $41.00 to $43.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods upped their target price on shares of 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Five Star Bancorp in a report on Monday, June 1st. Finally, DA Davidson lifted their price target on Five Star Bancorp from $45.00 to $48.50 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.30.

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.