FS Bancorp (NASDAQ:FSBW) Cut to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded FS Bancorp from “hold” to “strong sell,” while the broader analyst consensus remains “hold” with an average price target of $45.00.
• FS Bancorp opened at $43.65, near its 12-month high of $45.85, with a $236.14 million market capitalization and a price-to-earnings ratio of 10.06.
• The bank reported quarterly EPS of $1.08, matching analyst expectations, alongside a 14.88% net margin and 10.96% return on equity; institutional investors own 63.88% of the stock.

FS Bancorp (NASDAQ:FSBW - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Tuesday,Zacks.com reports.

FSBW has been the subject of a number of other research reports. Brean Capital downgraded shares of FS Bancorp from a "buy" rating to a "neutral" rating and set a $45.00 price objective for the company. in a research report on Monday. DA Davidson reiterated a "neutral" rating and set a $45.00 target price on shares of FS Bancorp in a research report on Wednesday, July 22nd. Finally, Weiss Ratings raised FS Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, June 29th. 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $45.00.

FS Bancorp Stock Performance

FSBW opened at $43.65 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.69. The company has a market cap of $236.14 million, a price-to-earnings ratio of 10.06 and a beta of 0.65. The company's 50 day moving average is $42.42 and its 200 day moving average is $41.24. FS Bancorp has a 12-month low of $36.66 and a 12-month high of $45.85.

FS Bancorp (NASDAQ:FSBW - Get Free Report) last announced its 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 net margin of 14.88% and a return on equity of 10.96%. The company had revenue of $5.24 million during the quarter, compared to analyst estimates of $38.00 million. On average, equities research analysts predict that FS Bancorp will post 4.34 EPS for the current year.

Institutional Trading of FS Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC purchased a new position in shares of FS Bancorp during the 1st quarter valued at $262,000. Bank of America Corp DE increased its stake in FS Bancorp by 6.0% in the 1st quarter. Bank of America Corp DE now owns 6,033 shares of the bank's stock worth $233,000 after buying an additional 343 shares in the last quarter. Quantinno Capital Management LP raised its holdings in FS Bancorp by 16.0% during the first quarter. Quantinno Capital Management LP now owns 17,955 shares of the bank's stock valued at $693,000 after acquiring an additional 2,480 shares during the period. Aristides Capital LLC raised its holdings in FS Bancorp by 4.2% during the first quarter. Aristides Capital LLC now owns 34,437 shares of the bank's stock valued at $1,329,000 after acquiring an additional 1,396 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of FS Bancorp by 4.5% in the fourth quarter. Empowered Funds LLC now owns 39,823 shares of the bank's stock valued at $1,640,000 after acquiring an additional 1,731 shares in the last quarter. 63.88% of the stock is currently owned by institutional investors.

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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