May 29, 2023 – Russell Investments Group Ltd. has recently reported a significant decrease in its stake in Five Star Bancorp (NASDAQ:FSBC) of about 86.3% during the fourth quarter, according to the Securities and Exchange Commission’s (SEC) recent filing. The firm had owned approximately 17,490 shares of the company’s stock but subsequently sold off about 110,422 shares, leaving only a meager ownership of 0.10%. As per the SEC filing, the company valued its FSBC stake at $476,000 by the end of last year.
The financial report submitted by Five Star Bancorp on April 24th indicates that they produced exceptional earnings with EPS standing at $0.77 for the quarter – surpassing expectations by a considerable margin of $0.05 per share with revenue amounting to $30.52 million can be attributed to this unprecedented performance.
Accordingly, it appears as though hedge funds want to know more regarding this fantastic performance and are engaging with HoldingsChannel.com. Hedge fund managers and investors alike should leverage reliable resources like this popular website to acquire information regarding insider trades as well as gain insights from other registered hedge funds through available 13F filings.
Five Star Bancorp seems to have solid footing for the remainder of the fiscal year supported by their return on equity rate of nearly twenty percent while also securing a net margin for themselves at thirty-four percent. Overwhelming optimism exists among equities research analysts who expect that the company will conclude this fiscal year with an impressive yield at rates exceeding previous projections such as EPS being rumored to shoot up to around $2.78.
In conclusion, reducing holdings by virtually over eighty-six percent is usually not good news for companies; nevertheless, Five Star Bancorp remains buoyant in today’s volatile market conditions and has shown excellent resilience against all odds leading them effectively towards profitability. Hedge Fund Managers should watch closely and potentially consider FSBC for future investments.
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Institutional Investors Boost Position in Five Star Bancorp’s Share Portfolio, Adding $86m to its Market Capitalization
Five Star Bancorp (NASDAQ:FSBC) has experienced a series of transactions in its share portfolio conducted by institutional investors such as Price T Rowe Associates Inc., BlackRock Inc., Vanguard Group Inc., Invesco Ltd. and State Street Corp. These investment firms boosted their position in shares of Five Star Bancorp during the first and third quarters by purchasing additional shares from the company’s stock, resulting in an increase in their respective percentage ownerships.
Price T Rowe Associates Inc. MD, for example increased its position by 41.3% during its second quarter, now owning 1,437,051 shares worth $37,967,000 following the purchase of an additional 419,779 shares. Similarly, BlackRock Inc. boosted its position by 9.7% during the third quarter with purchases totaling 56,967 shares now worth $18,310,000; while Vanguard Group Inc.’s percentage ownership saw a rise of 17.1%, with additional purchases now totaling 75,138 shares valued at $14,607,000.
Moreover , Invesco Ltd.’s percentage holding experienced a growth rate of 2.2% since last year’s first quarter after buying an additional 8,263 shares now worth $10,7880 million; while State Street Corp’s percentage holdings increased by 0.8% during last year’s third quarter amounting to an addition of 1-430 shares valued at $5.194 million.
In total these investments added up to approximately US$86m and shows how much confidence large investors have towards Five Star Bancorp’s future prospects as a sound investment opportunity.
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Despite several shifts in shareholding over the past few months it is important to note that FSBC stock opened at a stable price range of $19.33 on Monday with the firm recording a market capitalization value of approximately $333m also evidencing its appeal amongst institutional investors. Its highly competitive dividend yield of 4.14% annualized dividend payout ratio also adds to its attractiveness as an investment vehicle, especially since it has consistently increased with the passing of time and now stands at an impressive $0.20 per share.
As a 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 offering a variety of deposits such as money market accounts, savings accounts, noninterest-bearing and interest checking accounts and time deposits, it remains clear that Five Star Bancorp continues to be a beacon of financial stability amid these tough economic times.
