Bragg Financial Advisors Inc Boosts Holdings in Five Star Bancorp $FSBC

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

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Five Star Bancorp by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 862,647 shares of the company's stock worth $23,982,000 after buying an additional 22,505 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Five Star Bancorp by 4.1% in the 1st quarter. Invesco Ltd. now owns 360,777 shares of the company's stock worth $10,030,000 after buying an additional 14,126 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Five Star Bancorp by 15.7% in the 1st quarter. American Century Companies Inc. now owns 302,637 shares of the company's stock worth $8,413,000 after buying an additional 41,143 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Five Star Bancorp by 7.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 182,059 shares of the company's stock worth $5,478,000 after buying an additional 12,214 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Five Star Bancorp by 9.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 177,091 shares of the company's stock worth $5,329,000 after buying an additional 14,885 shares during the last quarter. Institutional investors own 46.94% of the company's stock.

Insider Activity

In other news, COO Lydia Ann Ramirez-Medina sold 825 shares of the firm's stock in a transaction dated 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 directly owned 11,960 shares of the company's stock, valued at approximately $370,042.40. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Eugene Beckwith sold 6,429 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was 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 directly owned 469,952 shares of the company's stock, valued at approximately $13,036,468.48. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,854 shares of company stock valued at $220,324. Corporate insiders own 21.70% of the company's stock.

Five Star Bancorp Price Performance

FSBC traded down $0.29 during trading on Monday, hitting $32.32. 21,759 shares of the stock traded hands, compared to its average volume of 53,038. The firm has a market capitalization of $690.61 million, a P/E ratio of 13.19 and a beta of 0.51. The firm has a 50-day moving average of $29.78 and a 200 day moving average of $28.82. Five Star Bancorp has a 12-month low of $22.22 and a 12-month high of $35.13.

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

Five Star Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 4th. Five Star Bancorp's dividend payout ratio (DPR) is currently 32.65%.

Analysts Set New Price Targets

FSBC has been the subject of a number of research reports. DA Davidson upped 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. Raymond James Financial dropped their price target on shares of Five Star Bancorp from $35.00 to $31.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods increased their price target on shares of Five Star Bancorp from $32.00 to $33.00 and gave the company a "market perform" rating in a research report on Monday, July 28th. Finally, Citigroup reissued an "outperform" rating on shares of Five Star Bancorp in a research report on Wednesday, April 30th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $35.00.

Five Star Bancorp Company Profile

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.