Wells Fargo & Company MN Sells 17,869 Shares of Five Star Bancorp (NASDAQ:FSBC)

Wells Fargo & Company MN cut its holdings in shares of Five Star Bancorp (NASDAQ:FSBC - Free Report) by 64.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,789 shares of the company's stock after selling 17,869 shares during the quarter. Wells Fargo & Company MN's holdings in Five Star Bancorp were worth $295,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FSBC. American Century Companies Inc. increased its stake in Five Star Bancorp by 31.1% in the 4th quarter. American Century Companies Inc. now owns 261,494 shares of the company's stock worth $7,868,000 after acquiring an additional 62,041 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Five Star Bancorp by 153.1% in the 4th 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 in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Five Star Bancorp by 47.0% in the 4th quarter. Bank of New York Mellon Corp now owns 111,848 shares of the company's stock worth $3,365,000 after buying an additional 35,783 shares during the last quarter. Barclays PLC raised its position in shares of Five Star Bancorp by 332.1% during the 3rd quarter. Barclays PLC now owns 25,112 shares of the company's stock valued at $746,000 after buying an additional 19,301 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Five Star Bancorp by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 840,142 shares of the company's stock worth $25,280,000 after acquiring an additional 13,001 shares during the last quarter. 46.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Five Star Bancorp

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

Five Star Bancorp Price Performance

FSBC opened at $27.88 on Wednesday. The firm has a market cap of $594.70 million, a PE ratio of 12.23 and a beta of 0.52. The stock has a 50-day moving average price of $27.53 and a 200-day moving average price of $29.94. Five Star Bancorp has a 1 year low of $21.78 and a 1 year high of $35.13.

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

Five Star Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, May 5th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Monday, May 5th. Five Star Bancorp's payout ratio is 35.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Raymond James 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 report on Wednesday, April 30th. Stephens reissued an "overweight" rating and issued a $37.00 target price on shares of Five Star Bancorp in a research note on Tuesday, January 28th. DA Davidson decreased their price target on Five Star Bancorp from $38.50 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Citigroup reissued an "outperform" rating on shares of Five Star Bancorp in a research note on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Five Star Bancorp from $37.00 to $35.00 and set a "market perform" rating on the stock in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $35.00.

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.

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