Bank of New York Mellon Corp Acquires New Shares in FS Bancorp, Inc. $FSBW

Key Points

• Bank of New York Mellon Corp acquired 49,529 FS Bancorp shares worth approximately $2.15 million, giving it a 0.91% stake. Institutional investors collectively own 63.88% of the company.
• FS Bancorp reported quarterly earnings of $1.08 per share, in line with estimates, and declared a $0.29 quarterly dividend, equivalent to a 2.6% yield.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $45 average price target; the stock recently opened at $43.88.

Bank of New York Mellon Corp purchased a new stake in shares of FS Bancorp, Inc. (NASDAQ:FSBW - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 49,529 shares of the bank's stock, valued at approximately $2,150,000. Bank of New York Mellon Corp owned 0.91% of FS Bancorp as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FSBW. Bank of America Corp DE grew its holdings in FS Bancorp by 6.0% in the first quarter. Bank of America Corp DE now owns 6,033 shares of the bank's stock worth $233,000 after purchasing an additional 343 shares during the period. Rhumbline Advisers increased its stake in shares of FS Bancorp by 4.7% during the second quarter. Rhumbline Advisers now owns 9,891 shares of the bank's stock valued at $390,000 after purchasing an additional 446 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of FS Bancorp by 3.4% during the fourth quarter. AQR Capital Management LLC now owns 15,256 shares of the bank's stock valued at $628,000 after purchasing an additional 503 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of FS Bancorp by 1,852.8% during the third quarter. Russell Investments Group Ltd. now owns 703 shares of the bank's stock valued at $28,000 after purchasing an additional 667 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of FS Bancorp by 104.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,330 shares of the bank's stock worth $53,000 after purchasing an additional 679 shares in the last quarter. 63.88% of the stock is owned by hedge funds and other institutional investors.

FS Bancorp Stock Performance

NASDAQ:FSBW opened at $43.88 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.10 and a quick ratio of 1.09. The firm has a market capitalization of $326.03 million, a price-to-earnings ratio of 10.11 and a beta of 0.66. FS Bancorp, Inc. has a one year low of $36.66 and a one year high of $45.85. The business has a fifty day moving average price of $43.25 and a 200-day moving average price of $41.47.

FS Bancorp (NASDAQ:FSBW - Get Free Report) last released its earnings results on Tuesday, July 21st. The bank reported $1.08 earnings per share for the quarter, meeting the consensus estimate of $1.08. The company had revenue of $5.24 million for the quarter, compared to the consensus estimate of $38.00 million. FS Bancorp had a return on equity of 10.86% and a net margin of 14.88%. Sell-side analysts forecast that FS Bancorp, Inc. will post 4.34 EPS for the current year.

FS Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, August 7th. FS Bancorp's dividend payout ratio (DPR) is presently 26.73%.

Insider Buying and Selling at FS Bancorp

In related news, Director Terri Degner sold 1,694 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $42.72, for a total value of $72,367.68. Following the completion of the transaction, the director owned 2,175 shares of the company's stock, valued at approximately $92,916. This represents a 43.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 12.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Brean Capital downgraded FS Bancorp from a "buy" rating to a "neutral" rating and set a $45.00 price target on the stock. in a research note on Monday, July 27th. DA Davidson reiterated a "neutral" rating and set a $45.00 price objective on shares of FS Bancorp in a research note on Wednesday, July 22nd. Weiss Ratings raised FS Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, June 29th. Finally, Zacks Research cut FS Bancorp from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, FS Bancorp has a consensus rating of "Hold" and an average price target of $45.00.

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.

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