Five Star Bancorp (NASDAQ:FSBC) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Five Star Bancorp (NASDAQ:FSBC) from a hold rating to a strong sell rating in a research note published on Thursday morning,Zacks.com reports.

Several other equities analysts also recently commented on FSBC. Keefe, Bruyette & Woods upped their price objective on Five Star Bancorp from $41.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. Stephens set a $51.00 price target on shares of Five Star Bancorp in a research note on Monday. DA Davidson increased their target price on Five Star Bancorp from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Five Star Bancorp in a report on Monday, June 1st. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Five Star Bancorp has an average rating of “Hold” and an average price target of $45.20.

Five Star Bancorp Price Performance

FSBC opened at $47.19 on Thursday. Five Star Bancorp has a fifty-two week low of $28.34 and a fifty-two week high of $50.26. The firm has a market capitalization of $1.01 billion, a P/E ratio of 13.96 and a beta of 0.53. The company’s 50-day moving average is $46.16 and its 200 day moving average is $41.75.

Five Star Bancorp (NASDAQ:FSBC) last announced its earnings results on Wednesday, July 22nd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $47.95 million for the quarter, compared to the consensus estimate of $47.72 million. Five Star Bancorp had a return on equity of 16.17% and a net margin of 25.92%. On average, equities research analysts expect that Five Star Bancorp will post 3.5 earnings per share for the current year.

Five Star Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, August 3rd. Five Star Bancorp’s dividend payout ratio (DPR) is presently 29.59%.

Insider Activity

In other news, Director Kevin Francis Ramos purchased 5,682 shares of the firm’s stock in a transaction dated Wednesday, July 22nd. The shares were purchased at an average price of $44.00 per share, with a total value of $250,008.00. Following the completion of the acquisition, the director owned 177,546 shares in the company, valued at $7,812,024. This trade represents a 3.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Shannon Deary-Bell purchased 5,682 shares of the firm’s stock in a transaction dated Wednesday, July 22nd. The stock was purchased at an average cost of $44.00 per share, for a total transaction of $250,008.00. Following the acquisition, the director owned 85,244 shares of the company’s stock, valued at approximately $3,750,736. This trade represents a 7.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 142,727 shares of company stock worth $6,279,988 and sold 12,692 shares worth $524,640. Company insiders own 21.79% of the company’s stock.

Institutional Trading of Five Star Bancorp

Several institutional investors and hedge funds have recently modified their holdings of FSBC. Russell Investments Group Ltd. bought a new stake in shares of Five Star Bancorp during the 2nd quarter valued at about $34,000. Quarry LP bought a new position in shares of Five Star Bancorp in the third quarter worth approximately $40,000. Raymond James Financial Inc. bought a new position in shares of Five Star Bancorp in the second quarter worth approximately $64,000. State of Alaska Department of Revenue raised its stake in Five Star Bancorp by 154.6% in the fourth quarter. State of Alaska Department of Revenue now owns 2,177 shares of the company’s stock valued at $77,000 after purchasing an additional 1,322 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Five Star Bancorp by 65.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,435 shares of the company’s stock valued at $98,000 after purchasing an additional 1,359 shares in the last quarter. Hedge funds and other institutional investors own 46.94% of the company’s stock.

About Five Star Bancorp

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.