StockNews.com Downgrades FS Bancorp (NASDAQ:FSBW) to Hold

StockNews.com downgraded shares of FS Bancorp (NASDAQ:FSBW) from a buy rating to a hold rating in a report issued on Tuesday.

Separately, DA Davidson boosted their target price on FS Bancorp from $34.00 to $44.00 and gave the stock a neutral rating in a report on Thursday, July 25th.

FS Bancorp Trading Down 1.9 %

Shares of NASDAQ:FSBW traded down $0.77 during trading on Tuesday, reaching $40.39. 10,408 shares of the stock were exchanged, compared to its average volume of 14,445. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.03. FS Bancorp has a 12-month low of $28.07 and a 12-month high of $45.30. The firm has a market cap of $314.88 million, a price-to-earnings ratio of 8.82 and a beta of 0.94. The firm’s 50-day moving average price is $37.01 and its 200 day moving average price is $34.52.

FS Bancorp (NASDAQ:FSBW) last issued its earnings results on Tuesday, July 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. FS Bancorp had a return on equity of 13.65% and a net margin of 18.05%. The business had revenue of $51.81 million during the quarter, compared to analysts’ expectations of $35.40 million. On average, sell-side analysts anticipate that FS Bancorp will post 4.17 earnings per share for the current fiscal year.

FS Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.67%. This is a positive change from FS Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, August 7th. FS Bancorp’s dividend payout ratio is presently 23.58%.

Hedge Funds Weigh In On FS Bancorp

A number of institutional investors have recently made changes to their positions in FSBW. Lazard Asset Management LLC raised its position in shares of FS Bancorp by 64.5% in the 1st quarter. Lazard Asset Management LLC now owns 2,288 shares of the bank’s stock valued at $79,000 after purchasing an additional 897 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of FS Bancorp during the 4th quarter valued at approximately $119,000. O Shaughnessy Asset Management LLC raised its position in shares of FS Bancorp by 4.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,734 shares of the bank’s stock valued at $268,000 after acquiring an additional 320 shares in the last quarter. Rhumbline Advisers raised its position in shares of FS Bancorp by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 10,197 shares of the bank’s stock valued at $372,000 after acquiring an additional 434 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of FS Bancorp by 45.2% during the 4th 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 in the last quarter. 63.88% of the stock is owned by institutional investors and hedge funds.

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.