Franklin Resources Inc. Trims Stock Position in Five Star Bancorp (NASDAQ:FSBC)

Franklin Resources Inc. decreased its holdings in Five Star Bancorp (NASDAQ:FSBC) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 572,068 shares of the company’s stock after selling 1,419 shares during the quarter. Franklin Resources Inc.’s holdings in Five Star Bancorp were worth $17,214,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Five Star Bancorp by 201.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 134,449 shares of the company’s stock worth $3,997,000 after acquiring an additional 89,834 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Five Star Bancorp in the 3rd quarter worth $109,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Five Star Bancorp by 25.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,435 shares of the company’s stock valued at $667,000 after purchasing an additional 4,564 shares in the last quarter. State Street Corp grew its holdings in Five Star Bancorp by 21.7% during the third quarter. State Street Corp now owns 373,173 shares of the company’s stock valued at $11,094,000 after purchasing an additional 66,602 shares during the period. Finally, Barclays PLC increased its position in Five Star Bancorp by 332.1% in the third quarter. Barclays PLC now owns 25,112 shares of the company’s stock worth $746,000 after buying an additional 19,301 shares in the last quarter. 46.94% of the stock is currently owned by institutional investors.

Five Star Bancorp Price Performance

FSBC stock opened at $25.35 on Tuesday. The company has a market capitalization of $540.69 million, a price-to-earnings ratio of 11.12 and a beta of 0.52. Five Star Bancorp has a 1-year low of $21.10 and a 1-year high of $35.13. The business has a 50 day simple moving average of $29.46 and a two-hundred day simple moving average of $30.39.

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 net margin of 21.40% and a return on equity of 12.89%. Sell-side analysts anticipate that Five Star Bancorp will post 2.63 EPS for the current fiscal year.

Five Star Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were given a $0.20 dividend. The ex-dividend date was Monday, February 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.16%. Five Star Bancorp’s dividend payout ratio is currently 35.09%.

Insider Activity at Five Star Bancorp

In related news, CEO James Eugene Beckwith sold 4,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $30.25, for a total transaction of $121,000.00. Following the sale, the chief executive officer now owns 476,381 shares of the company’s stock, valued at $14,410,525.25. This represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Donna Lucas acquired 2,650 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was acquired 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 in the company, valued at approximately $343,320.68. This represents a 28.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 25.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.