Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 8,593 Five Star Bancorp (NASDAQ:FSBC)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Five Star Bancorp (NASDAQ:FSBC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,593 shares of the company’s stock, valued at approximately $259,000.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Five Star Bancorp by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 138,409 shares of the company’s stock worth $4,165,000 after purchasing an additional 3,960 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Five Star Bancorp by 47.0% during the fourth 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 period. SG Americas Securities LLC raised its holdings in Five Star Bancorp by 18.7% in the fourth quarter. SG Americas Securities LLC now owns 7,261 shares of the company’s stock valued at $218,000 after acquiring an additional 1,143 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Five Star Bancorp by 81.5% in the third quarter. JPMorgan Chase & Co. now owns 23,489 shares of the company’s stock worth $698,000 after acquiring an additional 10,547 shares during the last quarter. Finally, Barclays PLC grew its holdings in Five Star Bancorp by 332.1% during the 3rd quarter. Barclays PLC now owns 25,112 shares of the company’s stock worth $746,000 after acquiring an additional 19,301 shares in the last quarter. 46.94% of the stock is currently owned by institutional investors and hedge funds.

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 transaction of $121,000.00. Following the completion of the sale, the chief executive officer now directly owns 476,381 shares of the company’s stock, 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 at the SEC website. Also, Director Donna Lucas bought 2,650 shares of the stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $28.43 per share, for a total transaction of $75,339.50. Following the completion of the purchase, the director now directly owns 12,076 shares in the company, valued at approximately $343,320.68. The trade was a 28.11 % increase in their position. The disclosure for this purchase can be found here. 25.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Raymond James restated an “outperform” rating and issued a $35.00 price objective (down from $38.00) on shares of Five Star Bancorp in a report on Wednesday, January 29th. Stephens reaffirmed an “overweight” rating and set a $37.00 price target on shares of Five Star Bancorp in a report on Tuesday, January 28th. Keefe, Bruyette & Woods dropped their price objective on Five Star Bancorp from $37.00 to $35.00 and set a “market perform” rating on the stock in a report on Thursday, January 30th. Finally, DA Davidson restated a “buy” rating and set a $38.50 target price on shares of Five Star Bancorp in a research note on Thursday, January 30th.

Five Star Bancorp Price Performance

Shares of FSBC opened at $28.00 on Monday. The firm has a fifty day moving average price of $30.05 and a 200 day moving average price of $30.54. The stock has a market cap of $597.21 million, a PE ratio of 12.28 and a beta of 0.48. Five Star Bancorp has a 1-year low of $21.10 and a 1-year high of $35.13.

Five Star Bancorp (NASDAQ:FSBC) last posted its earnings results on Monday, January 27th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Five Star Bancorp had a return on equity of 12.89% and a net margin of 21.40%. As a group, equities analysts expect that Five Star Bancorp will post 2.63 EPS for the current fiscal year.

Five Star Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were given a dividend of $0.20 per share. The ex-dividend date was Monday, February 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.86%. Five Star Bancorp’s dividend payout ratio (DPR) is presently 35.09%.

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.