Five Star Bancorp (NASDAQ:FSBC) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 31,000 shares, a decline of 23.3% from the November 15th total of 40,400 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 35,800 shares, the days-to-cover ratio is presently 0.9 days.
Separately, Zacks Investment Research upgraded shares of Five Star Bancorp from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Wednesday, October 6th.
A number of hedge funds have recently added to or reduced their stakes in FSBC. Price T Rowe Associates Inc. MD purchased a new stake in shares of Five Star Bancorp in the 2nd quarter valued at approximately $9,840,000. Vanguard Group Inc. acquired a new position in shares of Five Star Bancorp during the 2nd quarter worth $9,520,000. Invesco Ltd. acquired a new position in shares of Five Star Bancorp during the 2nd quarter worth $8,947,000. BlackRock Inc. acquired a new position in shares of Five Star Bancorp during the 2nd quarter worth $7,172,000. Finally, Connacht Asset Management LP acquired a new position in shares of Five Star Bancorp during the 2nd quarter worth $6,859,000. 33.69% of the stock is owned by institutional investors and hedge funds.
Shares of Five Star Bancorp stock traded down $1.86 on Friday, hitting $28.02. The company had a trading volume of 845,554 shares, compared to its average volume of 63,330. The business has a 50-day simple moving average of $28.14 and a 200-day simple moving average of $25.89. Five Star Bancorp has a 52 week low of $21.91 and a 52 week high of $33.98.
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Five Star Bancorp (NASDAQ:FSBC) last posted its quarterly earnings data on Sunday, October 24th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.18. Five Star Bancorp had a net margin of 46.12% and a return on equity of 22.87%. On average, analysts forecast that Five Star Bancorp will post 2.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 19th. Investors of record on Monday, October 11th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Friday, October 8th.
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. The company accepts various deposits, such as money market, noninterest-bearing and interest checking accounts, checking and savings accounts, and time deposits.
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Read More: Five Star Bancorp (NASDAQ:FSBC) Sees Large Decrease in Short Interest