Five Star Bancorp Director Larry Allbaugh Buys $4.3 Million Worth of Shares
Larry Eugene Allbaugh, a director at Five Star Bancorp (NASDAQ:FSBC), recently purchased approximately 96,591 shares for around $4.3 million through an indirect acquisition as reported in an SEC Form 4 filing. The transaction increased his total indirect stake to about 3.12 million shares with a post-transaction value of roughly $151 million based on the July 22 market close price. The purchase was made at a weighted average price of $44 per share, below the stock's closing price of $48.37 that day. This move comes as Five Star Bancorp has seen strong performance with a one-year return of nearly 59%. The company operates primarily in regional markets and focuses on community banking services for small to medium-sized businesses. Allbaugh’s purchase is viewed by analysts as potentially bullish, suggesting confidence in the stock's future value. Insider buying often correlates with positive short-term price movements according to market studies.