State Street Corp Grows Position in Five Star Bancorp (NASDAQ:FSBC)

State Street Corp increased its stake in shares of Five Star Bancorp (NASDAQ:FSBC - Free Report) by 21.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 373,173 shares of the company's stock after purchasing an additional 66,602 shares during the period. State Street Corp owned approximately 1.75% of Five Star Bancorp worth $11,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in Five Star Bancorp by 201.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 134,449 shares of the company's stock valued at $3,997,000 after buying an additional 89,834 shares during the last quarter. American Century Companies Inc. lifted its holdings in Five Star Bancorp by 116.5% in the second quarter. American Century Companies Inc. now owns 111,711 shares of the company's stock valued at $2,642,000 after acquiring an additional 60,118 shares during the period. Davis Asset Management L.P. lifted its holdings in Five Star Bancorp by 3.4% in the second quarter. Davis Asset Management L.P. now owns 1,511,500 shares of the company's stock valued at $35,747,000 after acquiring an additional 50,000 shares during the period. Dimensional Fund Advisors LP boosted its position in Five Star Bancorp by 32.4% in the second quarter. Dimensional Fund Advisors LP now owns 160,558 shares of the company's stock worth $3,797,000 after purchasing an additional 39,256 shares during the last quarter. Finally, Mendon Capital Advisors Corp grew its stake in shares of Five Star Bancorp by 320.7% during the 2nd quarter. Mendon Capital Advisors Corp now owns 50,000 shares of the company's stock valued at $1,182,000 after purchasing an additional 38,116 shares during the period. Institutional investors own 46.94% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FSBC. Keefe, Bruyette & Woods raised their price objective on shares of Five Star Bancorp from $33.00 to $37.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Raymond James began coverage on shares of Five Star Bancorp in a research note on Thursday, December 19th. They set an "outperform" rating and a $38.00 price target on the stock.

Insider Activity

In other Five Star Bancorp news, SVP Michael Eugene Lee sold 1,500 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $30.67, for a total transaction of $46,005.00. Following the completion of the sale, the senior vice president now directly owns 36,765 shares of the company's stock, valued at $1,127,582.55. This trade represents a 3.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 25.57% of the company's stock.

Five Star Bancorp Price Performance

Shares of FSBC stock traded up $0.27 during trading hours on Thursday, reaching $30.86. 67,225 shares of the company traded hands, compared to its average volume of 47,213. The firm has a 50-day moving average price of $31.94 and a 200 day moving average price of $28.91. The company has a market cap of $657.90 million, a P/E ratio of 13.54 and a beta of 0.45. Five Star Bancorp has a 12-month low of $21.10 and a 12-month high of $35.13.

Five Star Bancorp (NASDAQ:FSBC - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.02). The firm had revenue of $54.05 million during the quarter. Five Star Bancorp had a return on equity of 12.80% and a net margin of 21.35%. During the same period in the prior year, the firm posted $0.64 EPS. Sell-side analysts predict that Five Star Bancorp will post 2.19 EPS for the current year.

Five Star Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, November 4th. This represents a $0.80 dividend on an annualized basis and a yield of 2.59%. Five Star Bancorp's dividend payout ratio is presently 35.09%.

About Five Star Bancorp

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.