DA Davidson Reiterates Neutral Rating for FS Bancorp (NASDAQ:FSBW)

Key Points

• DA Davidson reiterated its Neutral rating on FS Bancorp and kept a $45 price target, implying about 4.9% upside from the current price.
• FS Bancorp shares were down 2.6% to $42.89 in Wednesday trading, with the stock sitting near its 52-week high of $45.85 and above both its 50-day and 200-day moving averages.
• The company recently reported Q2 earnings of $1.08 per share, which missed analyst estimates of $1.13, while revenue also came in below expectations.

FS Bancorp (NASDAQ:FSBW - Get Free Report)'s stock had its "neutral" rating reiterated by investment analysts at DA Davidson in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $45.00 target price on the bank's stock. DA Davidson's target price points to a potential upside of 4.92% from the stock's current price.

Separately, Weiss Ratings upgraded FS Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, FS Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $45.00.

FS Bancorp Trading Down 2.6%

FSBW stock traded down $1.15 during midday trading on Wednesday, hitting $42.89. The stock had a trading volume of 20,391 shares, compared to its average volume of 13,945. The firm has a market cap of $232.25 million, a PE ratio of 10.00 and a beta of 0.65. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.02. FS Bancorp has a 12-month low of $36.66 and a 12-month high of $45.85. The company's 50-day moving average price is $41.99 and its 200 day moving average price is $41.14.

FS Bancorp (NASDAQ:FSBW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The bank reported $1.08 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.05). FS Bancorp had a return on equity of 10.88% and a net margin of 14.91%.The business had revenue of $5.24 million for the quarter, compared to analysts' expectations of $38.00 million. On average, equities research analysts predict that FS Bancorp will post 4.64 earnings per share for the current fiscal year.

Institutional Trading of FS Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of FS Bancorp by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 418,353 shares of the bank's stock worth $17,224,000 after buying an additional 1,727 shares during the period. Geode Capital Management LLC increased its stake in FS Bancorp by 0.5% during the second quarter. Geode Capital Management LLC now owns 163,340 shares of the bank's stock worth $6,434,000 after acquiring an additional 826 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in FS Bancorp by 2.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 83,294 shares of the bank's stock worth $3,429,000 after acquiring an additional 1,731 shares during the last quarter. Siena Capital Partners GP LLC raised its holdings in shares of FS Bancorp by 156.1% in the 4th quarter. Siena Capital Partners GP LLC now owns 52,441 shares of the bank's stock worth $2,159,000 after purchasing an additional 31,965 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of FS Bancorp by 4.5% in the 4th quarter. Empowered Funds LLC now owns 39,823 shares of the bank's stock worth $1,640,000 after purchasing an additional 1,731 shares during the period. 63.88% of the stock is currently owned by institutional investors and hedge funds.

FS Bancorp Company Profile

FS Bancorp, Inc NASDAQ: FSBW is a bank holding company headquartered in Illinois that provides community banking services in the Midwestern United States. Through its wholly owned banking subsidiary, the company offers a full suite of deposit products, including checking and savings accounts, money market instruments, certificates of deposit and online banking platforms.

On the lending side, FS Bancorp extends commercial and industrial loans, residential mortgage financing, consumer credit and agricultural lending.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.