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Goldman Sachs Group Inc. Trims Stake in FS Bancorp, Inc. $FSBW

FS Bancorp logo with Finance background

Key Points

  • Goldman Sachs Group Inc. reduced its stake in FS Bancorp, Inc. by 50.9% in Q1, selling 9,938 shares and holding approximately 0.12% of the company worth $365,000.
  • FS Bancorp recently reported earnings per share of $0.99, exceeding estimates, and announced a quarterly dividend of $0.28 per share, yielding 2.8%.
  • DA Davidson raised its target price for FS Bancorp from $41.00 to $44.00, maintaining a "neutral" rating on the stock, which has an average rating of "Hold".
  • MarketBeat previews top five stocks to own in November.

Goldman Sachs Group Inc. reduced its position in shares of FS Bancorp, Inc. (NASDAQ:FSBW - Free Report) by 50.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,590 shares of the bank's stock after selling 9,938 shares during the period. Goldman Sachs Group Inc. owned approximately 0.12% of FS Bancorp worth $365,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Royce & Associates LP purchased a new position in shares of FS Bancorp during the 1st quarter valued at $617,000. Millennium Management LLC grew its position in shares of FS Bancorp by 96.5% during the 4th quarter. Millennium Management LLC now owns 18,701 shares of the bank's stock valued at $768,000 after purchasing an additional 9,183 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of FS Bancorp during the 1st quarter valued at $286,000. D.A. Davidson & CO. purchased a new position in shares of FS Bancorp during the 1st quarter valued at $365,000. Finally, GAMMA Investing LLC grew its position in shares of FS Bancorp by 12,586.3% during the 1st quarter. GAMMA Investing LLC now owns 10,149 shares of the bank's stock valued at $386,000 after purchasing an additional 10,069 shares in the last quarter. 63.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson upped their target price on shares of FS Bancorp from $41.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, FS Bancorp presently has an average rating of "Hold" and an average target price of $44.00.

Read Our Latest Stock Analysis on FS Bancorp

FS Bancorp Stock Performance

FS Bancorp stock opened at $40.63 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $308.79 million, a PE ratio of 9.65 and a beta of 0.73. The firm has a fifty day simple moving average of $40.95 and a two-hundred day simple moving average of $39.69. FS Bancorp, Inc. has a twelve month low of $34.61 and a twelve month high of $49.15.

FS Bancorp (NASDAQ:FSBW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.02. The business had revenue of $37.28 million during the quarter, compared to the consensus estimate of $36.55 million. FS Bancorp had a net margin of 15.88% and a return on equity of 11.32%. Research analysts expect that FS Bancorp, Inc. will post 4.26 EPS for the current year.

FS Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 7th. FS Bancorp's dividend payout ratio is 26.60%.

Insider Activity at FS Bancorp

In other news, CEO Joseph C. Adams sold 14,646 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $41.83, for a total transaction of $612,642.18. Following the completion of the transaction, the chief executive officer directly owned 97,775 shares of the company's stock, valued at approximately $4,089,928.25. This represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 37,500 shares of company stock worth $1,529,937 over the last ninety days. Corporate insiders own 12.70% of the company's stock.

About FS Bancorp

(Free Report)

FS Bancorp, Inc operates as a bank holding company for 1st Security Bank of Washington that provides banking and financial services to local families, local and regional businesses, and industry niches. The company operates in two segments, Commercial and Consumer Banking; and Home Lending. It offers various deposit instruments, including checking accounts, money market deposit accounts, savings accounts, and certificates of deposit.

Further Reading

Institutional Ownership by Quarter for FS Bancorp (NASDAQ:FSBW)

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