BUZZ-Five Star Bancorp falls after about $114 mln equity raise

Stifel Financial Corp
Five Star Bancorp
KraneShares 100% KWEB Defined Outcome January 2027 ETF

Stifel Financial Corp

SF

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Five Star Bancorp

FSBC

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KraneShares 100% KWEB Defined Outcome January 2027 ETF

KPRO

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** 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