Five Star Bancorp (NASDAQ:FSBC) Sets New 1-Year High – Here’s Why

Shares of Five Star Bancorp (NASDAQ:FSBC) reached a new 52-week high on Monday . The company traded as high as $40.38 and last traded at $40.19, with a volume of 9074 shares changing hands. The stock had previously closed at $39.62.

Analyst Upgrades and Downgrades

Several research firms have commented on FSBC. Janney Montgomery Scott began coverage on shares of Five Star Bancorp in a research report on Friday, October 10th. They set a “buy” rating and a $37.00 price objective for the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $40.00 price target (up previously from $34.00) on shares of Five Star Bancorp in a report on Wednesday, October 29th. Stephens cut Five Star Bancorp from an “overweight” rating to an “equal weight” rating and set a $37.00 price objective on the stock. in a research note on Monday, November 10th. Keefe, Bruyette & Woods raised their price objective on Five Star Bancorp from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Five Star Bancorp in a research report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.00.

Five Star Bancorp Trading Up 1.2%

The stock has a 50 day moving average of $36.74 and a 200-day moving average of $34.02. The stock has a market capitalization of $856.60 million, a P/E ratio of 13.85 and a beta of 0.52.

Five Star Bancorp (NASDAQ:FSBC) last announced its quarterly earnings data on Monday, January 26th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.77 by $0.06. Five Star Bancorp had a return on equity of 14.73% and a net margin of 24.11%.The company had revenue of $40.67 million for the quarter, compared to the consensus estimate of $42.58 million. Research analysts anticipate that Five Star Bancorp will post 2.63 EPS for the current year.

Five Star Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Monday, February 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, February 2nd. This is a positive change from Five Star Bancorp’s previous quarterly dividend of $0.20. Five Star Bancorp’s dividend payout ratio (DPR) is 27.59%.

Hedge Funds Weigh In On Five Star Bancorp

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Five Star Bancorp by 1.7% during the third quarter. Vanguard Group Inc. now owns 901,158 shares of the company’s stock valued at $29,017,000 after acquiring an additional 15,183 shares in the last quarter. Franklin Resources Inc. raised its position in Five Star Bancorp by 0.5% during the 2nd quarter. Franklin Resources Inc. now owns 493,475 shares of the company’s stock valued at $14,084,000 after purchasing an additional 2,233 shares in the last quarter. Invesco Ltd. raised its position in Five Star Bancorp by 2.4% during the 3rd quarter. Invesco Ltd. now owns 334,647 shares of the company’s stock valued at $10,776,000 after purchasing an additional 7,954 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Five Star Bancorp by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 332,580 shares of the company’s stock worth $9,492,000 after buying an additional 29,943 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Five Star Bancorp by 26.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 293,249 shares of the company’s stock worth $8,369,000 after buying an additional 60,584 shares in the last quarter. 46.94% of the stock is owned by hedge funds and other institutional investors.

Five Star Bancorp Company 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.