BUZZ-Five Star Bancorp falls after about $114 mln equity raise
Stifel Financial Corp SF | 0.00 | |
Five Star Bancorp FSBC | 0.00 | |
KraneShares 100% KWEB Defined Outcome January 2027 ETF KPRO | 0.00 |
** Regional bank Five Star Bancorp's FSBC.O shares down 7% to $45 premarket on Thurs after overnight follow-on priced
** Rancho Cordova, California-based FSBC late Weds announced ~2.7 mln shares at $44, a 9% discount to last sale
** Co intends to use expected net offering proceeds of $113.6 mln for general purposes, to support growth, and for working capital
** FSBC had ~21.4 mln shares outstanding prior to offering
** KBW sole bookrunner
** After the bell Weds, co said its Q2 net interest income rose by $2.6 mln qtr/qtr to $46.1 mln, primarily due to an increase in interest income driven by loan growth and higher interest-earning deposits in banks; net interest margin dipped 7 basis points to 3.63% from Q1
** Through Weds, FSBC stock up 35% YTD. It hit record intraday high of $50.26 on Jul 16
** Of 5 analysts, 3 rate the stock "buy", 2 "hold"; median PT $47, per LSEG data
