Five Star Bancorp $FSBC Shares Bought by Bragg Financial Advisors Inc

Key Points

• Bragg Financial Advisors Inc increased its stake in Five Star Bancorp by 180.9% during the 1st quarter, owning approximately 0.33% of the company, valued at nearly $1.98 million.
• Several institutional investors, including Vanguard Group Inc. and American Century Companies Inc., also boosted their holdings in Five Star Bancorp during the same period.
• Five Star Bancorp announced a quarterly dividend of $0.20 per share, yielding 2.6%, with a payout ratio of 32.65%.

Bragg Financial Advisors Inc lifted its position in Five Star Bancorp (NASDAQ:FSBC - Free Report) by 180.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,174 shares of the company's stock after purchasing an additional 45,837 shares during the quarter. Bragg Financial Advisors Inc owned about 0.33% of Five Star Bancorp worth $1,979,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Millennium Management LLC purchased a new stake in shares of Five Star Bancorp in the fourth quarter valued at about $862,000. GAMMA Investing LLC boosted its stake in Five Star Bancorp by 8,240.7% during the first quarter. GAMMA Investing LLC now owns 2,252 shares of the company's stock worth $63,000 after buying an additional 2,225 shares during the period. BNP Paribas Financial Markets purchased a new position in Five Star Bancorp during the fourth quarter worth about $60,000. XTX Topco Ltd purchased a new position in Five Star Bancorp during the first quarter worth about $263,000. Finally, JPMorgan Chase & Co. boosted its stake in Five Star Bancorp by 153.1% during the fourth quarter. JPMorgan Chase & Co. now owns 59,456 shares of the company's stock worth $1,789,000 after buying an additional 35,967 shares during the period. Hedge funds and other institutional investors own 46.94% of the company's stock.

Insider Buying and Selling at Five Star Bancorp

In related news, COO Lydia Ann Ramirez-Medina sold 825 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $30.94, for a total value of $25,525.50. Following the completion of the sale, the chief operating officer owned 11,960 shares in the company, valued at $370,042.40. This represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Eugene Beckwith sold 6,429 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $27.74, for a total transaction of $178,340.46. Following the completion of the sale, the chief executive officer owned 469,952 shares of the company's stock, valued at approximately $13,036,468.48. This trade represents a 1.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,854 shares of company stock valued at $220,324. 25.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FSBC. Citigroup reaffirmed an "outperform" rating on shares of Five Star Bancorp in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods raised their price objective on shares of Five Star Bancorp from $32.00 to $33.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. DA Davidson raised their price objective on shares of Five Star Bancorp from $37.00 to $39.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Raymond James Financial lowered their price objective on shares of Five Star Bancorp from $35.00 to $31.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Five Star Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Five Star Bancorp Price Performance

Shares of NASDAQ:FSBC traded down $0.10 during trading on Wednesday, hitting $32.79. 10,654 shares of the company were exchanged, compared to its average volume of 52,716. The stock has a market capitalization of $700.62 million, a P/E ratio of 13.38 and a beta of 0.51. Five Star Bancorp has a 12-month low of $22.22 and a 12-month high of $35.13. The firm's 50 day moving average price is $30.02 and its 200-day moving average price is $28.86.

Five Star Bancorp (NASDAQ:FSBC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. The business had revenue of $38.33 million during the quarter, compared to the consensus estimate of $37.60 million. Five Star Bancorp had a net margin of 22.14% and a return on equity of 12.89%. As a group, equities research analysts anticipate that Five Star Bancorp will post 2.63 EPS for the current year.

Five Star Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 4th. Five Star Bancorp's payout ratio is presently 32.65%.

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.