BlackRock Inc. Acquires New Holdings in Five Star Bancorp $FSBC

Key Points

• BlackRock acquired 1.33 million shares of Five Star Bancorp during the second quarter, valued at approximately $64.8 million and representing a 6.23% stake. Institutional investors now own 46.94% of the company.
• Five Star Bancorp exceeded quarterly expectations, reporting $0.91 in earnings per share versus the $0.86 consensus estimate and revenue of $47.95 million. The company also declared a quarterly dividend of $0.25, equivalent to a 2.2% annual yield.
• Analyst opinions remain mixed, with the stock carrying a consensus “Hold” rating and a $45.20 target price. Meanwhile, insiders purchased 142,727 shares worth about $6.3 million over the past three months.

BlackRock Inc. acquired a new stake in Five Star Bancorp (NASDAQ:FSBC - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,331,191 shares of the company's stock, valued at approximately $64,816,000. BlackRock Inc. owned approximately 6.23% of Five Star Bancorp as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in FSBC. Occidental Asset Management LLC bought a new position in Five Star Bancorp during the second quarter valued at about $230,000. Deutsche Bank AG acquired a new stake in shares of Five Star Bancorp in the 2nd quarter valued at $755,000. Global Retirement Partners LLC bought a new stake in Five Star Bancorp during the second quarter worth about $141,000. Bank of New York Mellon Corp acquired a new position in shares of Five Star Bancorp in the 2nd quarter worth approximately $4,642,000. Finally, State of Wyoming bought a new position in shares of Five Star Bancorp in the second quarter valued at about $27,000. 46.94% of the stock is currently owned by institutional investors.

Five Star Bancorp Stock Performance

Shares of FSBC stock opened at $45.62 on Monday. The business's 50-day moving average price is $47.28 and its 200-day moving average price is $42.78. Five Star Bancorp has a 12 month low of $30.68 and a 12 month high of $50.26. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 13.50 and a beta of 0.53.

Five Star Bancorp (NASDAQ:FSBC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The firm had revenue of $47.95 million during the quarter, compared to analyst estimates of $47.72 million. Five Star Bancorp had a return on equity of 15.92% and a net margin of 25.92%. On average, sell-side analysts predict that Five Star Bancorp will post 3.52 earnings per share for the current fiscal year.

Five Star Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. DA Davidson raised their target price on shares of Five Star Bancorp from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Zacks Research cut shares of Five Star Bancorp from a "hold" rating to a "strong sell" rating in a report on Thursday, July 30th. Weiss Ratings raised Five Star Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, August 11th. Finally, Stephens set a $51.00 price target on shares of Five Star Bancorp in a research note on Monday, July 27th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Five Star Bancorp has a consensus rating of "Hold" and a consensus target price of $45.20.

Insider Activity at Five Star Bancorp

In other news, Director Robert Truxtun Perry-Smith acquired 31,363 shares of Five Star Bancorp stock in a transaction on Wednesday, July 22nd. The stock was acquired at an average cost of $44.00 per share, with a total value of $1,379,972.00. Following the transaction, the director owned 258,898 shares of the company's stock, valued at approximately $11,391,512. This trade represents a 13.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 cost of $44.00 per share, with a total value of $250,008.00. Following the completion of the transaction, the director directly owned 85,244 shares of the company's stock, valued at $3,750,736. The trade was a 7.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 142,727 shares of company stock valued at $6,279,988 over the last three months. Insiders own 21.79% of the company's stock.

Five Star Bancorp 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.

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