FS Bancorp (NASDAQ:FSBW) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded FS Bancorp from “strong sell” to “hold.” The broader analyst consensus is also “Hold,” with a $45.00 target price.
• FS Bancorp opened at $44.65, near its 52-week high of $45.85, with a market capitalization of approximately $331.75 million and a P/E ratio of 10.29.
• The bank reported quarterly EPS of $1.08, matching analyst estimates, while institutional investors own 63.88% of the company’s shares.

FS Bancorp (NASDAQ:FSBW - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday, Zacks reports.

A number of other research analysts also recently weighed in on the stock. Weiss Ratings restated a "buy (b)" rating on shares of FS Bancorp in a research report on Friday, September 25th. Brean Capital downgraded shares of FS Bancorp from a "buy" rating to a "neutral" rating and set a $45.00 target price for the company. in a research report on Monday, July 27th. Finally, DA Davidson reiterated a "neutral" rating and set a $45.00 target price on shares of FS Bancorp in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $45.00.

FS Bancorp Price Performance

NASDAQ FSBW opened at $44.65 on Monday. FS Bancorp has a one year low of $36.66 and a one year high of $45.85. The stock has a 50-day moving average of $43.54 and a 200 day moving average of $42.26. The company has a market capitalization of $331.75 million, a price-to-earnings ratio of 10.29 and a beta of 0.68. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.09 and a current ratio of 1.10.

FS Bancorp (NASDAQ:FSBW - Get Free Report) last posted its earnings results on Tuesday, July 21st. The bank reported $1.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.08. The business had revenue of $5.24 million for the quarter, compared to analysts' expectations of $38.00 million. FS Bancorp had a net margin of 14.88% and a return on equity of 10.86%. On average, sell-side analysts forecast that FS Bancorp will post 4.36 EPS for the current year.

Insider Transactions at FS Bancorp

In other FS Bancorp news, Director Terri Degner sold 1,694 shares of the firm's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $42.72, for a total value of $72,367.68. Following the transaction, the director directly owned 2,175 shares of the company's stock, valued at approximately $92,916. This trade represents a 43.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.90% of the company's stock.

Institutional Investors Weigh In On FS Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of FS Bancorp in the second quarter worth approximately $21,213,000. De Lisle Partners LLP bought a new stake in FS Bancorp during the second quarter valued at approximately $16,956,000. Bank of New York Mellon Corp bought a new stake in FS Bancorp during the second quarter valued at approximately $2,150,000. Empowered Funds LLC purchased a new stake in FS Bancorp during the second quarter valued at approximately $1,793,000. Finally, Aristides Capital LLC increased its holdings in FS Bancorp by 4.2% during the first quarter. Aristides Capital LLC now owns 34,437 shares of the bank's stock valued at $1,329,000 after buying an additional 1,396 shares during the last quarter. Hedge funds and other institutional investors own 63.88% of the company's stock.

FS Bancorp Company Profile

FS Bancorp, Inc is the bank holding company for 1st Security Bank of Washington, a community bank headquartered in Mountlake Terrace, Washington. Through its banking subsidiary, the company provides deposit, lending and other financial services to individuals, families and businesses.

1st Security Bank offers checking and savings accounts, certificates of deposit, commercial and small-business banking, residential and commercial real estate loans, construction financing, consumer loans and home equity products.

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