Pacific Ridge Capital Partners LLC Cuts Holdings in FS Bancorp, Inc. (NASDAQ:FSBW)

Pacific Ridge Capital Partners LLC cut its position in shares of FS Bancorp, Inc. (NASDAQ:FSBW) by 5.0% during the 1st quarter, Holdings Channel reports. The firm owned 254,070 shares of the bank’s stock after selling 13,243 shares during the quarter. FS Bancorp makes up approximately 1.9% of Pacific Ridge Capital Partners LLC’s holdings, making the stock its 11th largest holding. Pacific Ridge Capital Partners LLC’s holdings in FS Bancorp were worth $8,819,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in FS Bancorp in the fourth quarter valued at about $119,000. BNP Paribas Financial Markets boosted its stake in FS Bancorp by 45.2% in the fourth quarter. BNP Paribas Financial Markets now owns 10,120 shares of the bank’s stock valued at $374,000 after acquiring an additional 3,152 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in FS Bancorp by 9.6% in the fourth quarter. Panagora Asset Management Inc. now owns 16,338 shares of the bank’s stock valued at $604,000 after acquiring an additional 1,436 shares during the last quarter. Empowered Funds LLC boosted its stake in FS Bancorp by 8.1% in the first quarter. Empowered Funds LLC now owns 30,437 shares of the bank’s stock valued at $1,056,000 after acquiring an additional 2,275 shares during the last quarter. Finally, TCW Group Inc. boosted its stake in FS Bancorp by 0.9% in the fourth quarter. TCW Group Inc. now owns 284,519 shares of the bank’s stock valued at $10,516,000 after acquiring an additional 2,540 shares during the last quarter. 63.88% of the stock is currently owned by hedge funds and other institutional investors.

FS Bancorp Stock Performance

Shares of NASDAQ FSBW traded down $0.58 during midday trading on Friday, hitting $40.00. The company’s stock had a trading volume of 8,898 shares, compared to its average volume of 13,590. The stock has a fifty day moving average price of $34.30 and a 200 day moving average price of $33.91. FS Bancorp, Inc. has a one year low of $28.07 and a one year high of $41.95. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $311.84 million, a price-to-earnings ratio of 8.73 and a beta of 0.94.

FS Bancorp (NASDAQ:FSBW) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.08. FS Bancorp had a net margin of 18.69% and a return on equity of 14.17%. The company had revenue of $35.46 million for the quarter, compared to analyst estimates of $34.05 million. On average, research analysts forecast that FS Bancorp, Inc. will post 3.93 EPS for the current fiscal year.

FS Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th will be given a $0.27 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $1.08 annualized dividend and a dividend yield of 2.70%. This is a positive change from FS Bancorp’s previous quarterly dividend of $0.26. FS Bancorp’s payout ratio is 23.58%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of FS Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st.

About FS Bancorp

FS Bancorp, Inc operates as a bank holding company for 1st Security Bank of Washington that provides banking and financial services to local families, local and regional businesses, and industry niches. The company operates in two segments, Commercial and Consumer Banking; and Home Lending. It offers various deposit instruments, including checking accounts, money market deposit accounts, savings accounts, and certificates of deposit.