BlackRock Inc. Makes New Investment in FS Bancorp, Inc. $FSBW

Key Points

• BlackRock acquired 488,775 shares of FS Bancorp in the second quarter, worth approximately $21.2 million and representing a 9.03% stake. Institutional investors collectively own 63.88% of the company.
• FS Bancorp reported quarterly EPS of $1.08, matching analyst expectations, while its return on equity was 10.86% and net margin was 14.88%. The bank also declared a quarterly dividend of $0.29 per share, or a 2.7% annualized yield.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average $45 price target. Shares recently traded at $43.11, while an FS Bancorp director sold 975 shares at an average price of $43.25.

BlackRock Inc. purchased a new position in FS Bancorp, Inc. (NASDAQ:FSBW - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 488,775 shares of the bank's stock, valued at approximately $21,213,000. BlackRock Inc. owned 9.03% of FS Bancorp at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FSBW. Bank of America Corp DE increased its stake in shares of FS Bancorp by 6.0% during the first quarter. Bank of America Corp DE now owns 6,033 shares of the bank's stock valued at $233,000 after acquiring an additional 343 shares during the period. Rhumbline Advisers lifted its position in FS Bancorp by 4.7% in the second quarter. Rhumbline Advisers now owns 9,891 shares of the bank's stock worth $390,000 after purchasing an additional 446 shares during the period. AQR Capital Management LLC boosted its stake in FS Bancorp by 3.4% during the 4th 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 in the last quarter. Russell Investments Group Ltd. increased its position in shares of FS Bancorp by 1,852.8% during the 3rd 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 period. Finally, BNP Paribas Financial Markets increased its position in shares of FS Bancorp by 104.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,330 shares of the bank's stock valued at $53,000 after purchasing an additional 679 shares during the period. 63.88% of the stock is currently owned by institutional investors.

FS Bancorp Trading Up 1.6%

Shares of NASDAQ:FSBW opened at $43.11 on Thursday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.09 and a current ratio of 1.10. The stock has a market capitalization of $320.31 million, a price-to-earnings ratio of 9.93 and a beta of 0.66. FS Bancorp, Inc. has a 1-year low of $36.66 and a 1-year high of $45.85. The company has a 50 day moving average price of $43.21 and a 200 day moving average price of $41.43.

FS Bancorp (NASDAQ:FSBW - Get Free Report) last posted its quarterly 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. FS Bancorp had a return on equity of 10.86% and a net margin of 14.88%.The company had revenue of $5.24 million for the quarter, compared to analysts' expectations of $38.00 million. On average, research analysts anticipate that FS Bancorp, Inc. will post 4.34 EPS for the current fiscal year.

FS Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, August 7th. FS Bancorp's dividend payout ratio is currently 26.73%.

Analysts Set New Price Targets

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

Insider Activity at FS Bancorp

In related news, Director Terri L. Degner sold 975 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $43.25, for a total value of $42,168.75. Following the completion of the transaction, the director owned 1,200 shares in the company, valued at $51,900. This trade represents a 44.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.90% of the stock is currently owned by corporate insiders.

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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