Goldman Sachs Group Inc. Trims Holdings in Five Star Bancorp $FSBC

Key Points

• Goldman Sachs Group Inc. has reduced its holdings in Five Star Bancorp by 24.3%, now owning about 0.18% of the company, valued at approximately $1,068,000.
• Several institutional investors, including GAMMA Investing LLC and Deutsche Bank AG, have significantly increased their stakes in Five Star Bancorp recently.
• Analysts have a "Moderate Buy" rating for Five Star Bancorp, with an average price target of $35.00, following the company's positive earnings report exceeding estimates.

Goldman Sachs Group Inc. decreased its holdings in Five Star Bancorp (NASDAQ:FSBC - Free Report) by 24.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,408 shares of the company's stock after selling 12,316 shares during the period. Goldman Sachs Group Inc. owned about 0.18% of Five Star Bancorp worth $1,068,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Five Star Bancorp by 2.7% during the first quarter. Vanguard Group Inc. now owns 862,647 shares of the company's stock valued at $23,982,000 after buying an additional 22,505 shares during the period. Millennium Management LLC purchased a new position in shares of Five Star Bancorp during the fourth quarter valued at $862,000. GAMMA Investing LLC increased its stake in shares of Five Star Bancorp by 8,240.7% during the first quarter. GAMMA Investing LLC now owns 2,252 shares of the company's stock valued at $63,000 after buying an additional 2,225 shares during the period. BNP Paribas Financial Markets bought a new stake in Five Star Bancorp during the fourth quarter valued at about $60,000. Finally, Nuveen LLC bought a new stake in Five Star Bancorp during the first quarter valued at about $1,233,000. Hedge funds and other institutional investors own 46.94% of the company's stock.

Five Star Bancorp Stock Up 0.3%

Shares of Five Star Bancorp stock traded up $0.10 on Monday, reaching $33.05. The company's stock had a trading volume of 24,268 shares, compared to its average volume of 32,171. The company has a market capitalization of $706.28 million, a P/E ratio of 13.45 and a beta of 0.52. Five Star Bancorp has a 52-week low of $22.22 and a 52-week high of $35.13. The stock has a 50-day moving average price of $31.46 and a 200-day moving average price of $29.10.

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

Five Star Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FSBC. Keefe, Bruyette & Woods raised their price objective on 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. DA Davidson raised their price objective on Five Star Bancorp from $37.00 to $39.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.

Insiders Place Their Bets

In other Five Star Bancorp news, COO Lydia Ann Ramirez-Medina sold 825 shares of the business'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 transaction, the chief operating officer directly owned 11,960 shares in the company, valued at $370,042.40. The trade was a 6.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 25.57% of the stock is owned by insiders.

Five Star Bancorp 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.