Daytona Street Capital LLC Makes New $1.34 Million Investment in FS Bancorp, Inc. $FSBW

Key Points

• Daytona Street Capital LLC bought 32,437 shares of FS Bancorp (FSBW) in Q4—about $1.34 million—giving it roughly 0.43% ownership of the company.
• FS Bancorp increased its quarterly dividend to $0.29 (annualized $1.16), implying a ~2.9% yield and a 27.1% payout ratio.
• The bank reported $1.10 EPS for the quarter (missed consensus by $0.03) but beat revenue estimates at $40.01M; analysts show a Moderate Buy consensus with a $46 target and the stock trades at a P/E of 9.23.

Daytona Street Capital LLC bought a new position in shares of FS Bancorp, Inc. (NASDAQ:FSBW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 32,437 shares of the bank's stock, valued at approximately $1,335,000. Daytona Street Capital LLC owned approximately 0.43% of FS Bancorp at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in FS Bancorp by 1,852.8% during the third quarter. Russell Investments Group Ltd. now owns 703 shares of the bank's stock worth $28,000 after acquiring an additional 667 shares in the last quarter. CWM LLC raised its stake in FS Bancorp by 135.0% during the third quarter. CWM LLC now owns 1,060 shares of the bank's stock worth $42,000 after acquiring an additional 609 shares in the last quarter. Root Financial Partners LLC acquired a new position in FS Bancorp during the third quarter worth about $49,000. BNP Paribas Financial Markets raised its stake in FS Bancorp by 104.3% during the third quarter. BNP Paribas Financial Markets now owns 1,330 shares of the bank's stock worth $53,000 after acquiring an additional 679 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in FS Bancorp by 489.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,980 shares of the bank's stock worth $78,000 after acquiring an additional 1,644 shares in the last quarter. Institutional investors and hedge funds own 63.88% of the company's stock.

FS Bancorp Stock Performance

FS Bancorp stock opened at $39.51 on Tuesday. The business has a 50 day moving average of $40.23 and a 200-day moving average of $40.42. FS Bancorp, Inc. has a 1 year low of $35.72 and a 1 year high of $44.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.01 and a quick ratio of 1.00. The company has a market capitalization of $296.33 million, a P/E ratio of 9.23 and a beta of 0.68.

FS Bancorp (NASDAQ:FSBW - Get Free Report) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.03). FS Bancorp had a net margin of 15.19% and a return on equity of 11.08%. The firm had revenue of $40.01 million during the quarter, compared to analyst estimates of $38.20 million. On average, equities research analysts predict that FS Bancorp, Inc. will post 4.26 earnings per share for the current year.

FS Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were paid a $0.29 dividend. This is an increase from FS Bancorp's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, February 6th. FS Bancorp's payout ratio is currently 27.10%.

Analyst Upgrades and Downgrades

Several research analysts have commented on FSBW shares. Weiss Ratings reissued a "buy (b-)" rating on shares of FS Bancorp in a research note on Friday, January 9th. DA Davidson upped their price objective on FS Bancorp from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Friday, February 27th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $46.00.

About FS Bancorp

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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