Raymond James Cuts Five Star Bancorp (NASDAQ:FSBC) Price Target to $31.00

Five Star Bancorp (NASDAQ:FSBC - Free Report) had its price objective reduced by Raymond James from $35.00 to $31.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently issued reports on FSBC. Stephens reissued an "overweight" rating and set a $37.00 price objective on shares of Five Star Bancorp in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods dropped their price target on Five Star Bancorp from $37.00 to $35.00 and set a "market perform" rating for the company in a research note on Thursday, January 30th. Finally, DA Davidson restated a "buy" rating and issued a $38.50 price objective on shares of Five Star Bancorp in a report on Thursday, January 30th.

Five Star Bancorp Stock Performance

NASDAQ FSBC traded up $0.35 during mid-day trading on Wednesday, reaching $28.33. 9,155 shares of the stock were exchanged, compared to its average volume of 54,927. The stock has a market capitalization of $604.14 million, a PE ratio of 12.40 and a beta of 0.52. Five Star Bancorp has a 1-year low of $21.78 and a 1-year high of $35.13. The business's fifty day simple moving average is $27.63 and its 200 day simple moving average is $29.97.

Five Star Bancorp (NASDAQ:FSBC - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. The business had revenue of $35.34 million for the quarter, compared to analysts' expectations of $35.27 million. Five Star Bancorp had a return on equity of 12.89% and a net margin of 21.40%. On average, analysts anticipate that Five Star Bancorp will post 2.63 EPS for the current year.

Five Star Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, May 5th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, May 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.82%. Five Star Bancorp's dividend payout ratio (DPR) is 35.09%.

Insider Activity at Five Star Bancorp

In other Five Star Bancorp news, CEO James Eugene Beckwith sold 4,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $30.25, for a total value of $121,000.00. Following the completion of the transaction, the chief executive officer now owns 476,381 shares in the company, valued at $14,410,525.25. This represents a 0.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donna Lucas acquired 2,650 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $28.43 per share, for a total transaction of $75,339.50. Following the purchase, the director now directly owns 12,076 shares of the company's stock, valued at approximately $343,320.68. This trade represents a 28.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Five Star Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Five Star Bancorp by 6.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,514 shares of the company's stock worth $286,000 after acquiring an additional 564 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Five Star Bancorp by 8.9% during the 4th quarter. MetLife Investment Management LLC now owns 10,030 shares of the company's stock worth $302,000 after purchasing an additional 822 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Five Star Bancorp by 18.7% in the 4th quarter. SG Americas Securities LLC now owns 7,261 shares of the company's stock valued at $218,000 after purchasing an additional 1,143 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Five Star Bancorp by 91.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,987 shares of the company's stock valued at $90,000 after buying an additional 1,427 shares during the last quarter. Finally, PDT Partners LLC grew its position in shares of Five Star Bancorp by 22.4% during the fourth quarter. PDT Partners LLC now owns 10,049 shares of the company's stock worth $302,000 after buying an additional 1,840 shares in the last quarter. 46.94% of the stock is owned by hedge funds and other institutional investors.

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.