Five Star Bancorp (NASDAQ:FSBC) Director Judson Teichert Riggs Acquires 2,273 Shares of Stock

Five Star Bancorp (NASDAQ:FSBC) Director Judson Teichert Riggs purchased 2,273 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The shares were bought at an average price of $44.00 per share, with a total value of $100,012.00. Following the purchase, the director directly owned 87,531 shares of the company’s stock, valued at approximately $3,851,364. The trade was a 2.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Five Star Bancorp Price Performance

Shares of NASDAQ FSBC opened at $47.83 on Wednesday. The stock has a fifty day moving average price of $45.83 and a 200 day moving average price of $41.57. Five Star Bancorp has a 1-year low of $28.34 and a 1-year high of $50.26. The company has a market cap of $1.02 billion, a PE ratio of 14.15 and a beta of 0.53.

Five Star Bancorp (NASDAQ:FSBC) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. 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 25.92% and a return on equity of 16.17%. Analysts anticipate that Five Star Bancorp will post 3.58 earnings per share for the current fiscal year.

Five Star Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be issued a $0.25 dividend. 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 payout ratio is presently 29.59%.

Trending Headlines about 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 Analyst Weigh In

A number of equities research analysts recently commented on the stock. DA Davidson raised their price objective on shares of Five Star Bancorp from $45.00 to $48.50 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Stephens set a $51.00 target price on Five Star Bancorp in a research note on Monday. Keefe, Bruyette & Woods raised their price target on Five Star Bancorp from $41.00 to $43.00 and gave the company a “market perform” rating in a report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Five Star Bancorp in a report on Monday, June 1st. Four 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 has an average rating of “Moderate Buy” and an average target price of $43.90.

Institutional Investors Weigh In On Five Star Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of FSBC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Five Star Bancorp by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,904 shares of the company’s stock worth $275,000 after acquiring an additional 390 shares in the last quarter. Jane Street Group LLC purchased a new position in Five Star Bancorp in the 1st quarter valued at approximately $889,000. Russell Investments Group Ltd. purchased a new position in Five Star Bancorp in the 2nd quarter valued at approximately $34,000. First Trust Advisors LP raised its holdings in Five Star Bancorp by 3.4% during the second quarter. First Trust Advisors LP now owns 13,816 shares of the company’s stock worth $394,000 after purchasing an additional 458 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Five Star Bancorp during the second quarter worth $509,000. 46.94% of the stock is currently owned by institutional investors and hedge funds.

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.