Maltese Capital Management LLC Sells 117,400 Shares of Five Star Bancorp $FSBC

Key Points

• Maltese Capital Management cut its Five Star Bancorp stake by 42.3% in the fourth quarter, selling 117,400 shares and ending with 160,000 shares valued at about $5.73 million.
• Five Star Bancorp posted solid quarterly results, reporting EPS of $0.83 on revenue of $43.47 million, while analysts expect full-year EPS of 3.58.
• The bank recently paid a quarterly dividend of $0.25 per share, equal to an annualized yield of 2.3%, even as executives and some institutional investors also trimmed or adjusted holdings.

Maltese Capital Management LLC lessened its stake in shares of Five Star Bancorp (NASDAQ:FSBC - Free Report) by 42.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 160,000 shares of the company's stock after selling 117,400 shares during the period. Maltese Capital Management LLC owned about 0.75% of Five Star Bancorp worth $5,725,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in Five Star Bancorp during the second quarter worth approximately $34,000. Quarry LP acquired a new position in Five Star Bancorp during the third quarter worth approximately $40,000. State of Alaska Department of Revenue increased its position in Five Star Bancorp by 154.6% during the fourth quarter. State of Alaska Department of Revenue now owns 2,177 shares of the company's stock worth $77,000 after buying an additional 1,322 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Five Star Bancorp during the second quarter worth approximately $64,000. Finally, Tower Research Capital LLC TRC increased its position in Five Star Bancorp by 65.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,435 shares of the company's stock worth $98,000 after buying an additional 1,359 shares during the last quarter. Institutional investors own 46.94% of the company's stock.

Five Star Bancorp Price Performance

Shares of NASDAQ:FSBC opened at $43.88 on Tuesday. The company has a market capitalization of $938.15 million, a P/E ratio of 13.93 and a beta of 0.54. Five Star Bancorp has a 1 year low of $26.20 and a 1 year high of $45.48. The business's 50 day simple moving average is $41.41 and its 200 day simple moving average is $39.06.

Five Star Bancorp (NASDAQ:FSBC - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The company reported $0.83 earnings per share (EPS) for the quarter. The business had revenue of $43.47 million for the quarter. Five Star Bancorp had a return on equity of 15.32% and a net margin of 25.23%. On average, sell-side analysts anticipate that Five Star Bancorp will post 3.58 EPS for the current fiscal year.

Five Star Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. Five Star Bancorp's dividend payout ratio is currently 31.75%.

Insider Buying and Selling

In related news, SVP Brett Levi Wait sold 1,640 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $42.27, for a total transaction of $69,322.80. Following the sale, the senior vice president owned 16,873 shares of the company's stock, valued at $713,221.71. This represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Eugene Beckwith sold 6,428 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $41.23, for a total value of $265,026.44. Following the sale, the chief executive officer directly owned 466,586 shares in the company, valued at $19,237,340.78. This represents a 1.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 12,692 shares of company stock valued at $524,640 over the last 90 days. 21.79% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on FSBC. Keefe, Bruyette & Woods upped their target price on Five Star Bancorp from $41.00 to $43.00 and gave the company a "market perform" rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Five Star Bancorp in a research report on Monday, June 1st. DA Davidson upped their target price on Five Star Bancorp from $45.00 to $48.50 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Stephens upped their target price on Five Star Bancorp from $41.00 to $43.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $42.30.

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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