FS Bancorp, Inc. (NASDAQ:FSBW) Sees Large Decrease in Short Interest

Key Points

• Short interest fell sharply: FS Bancorp’s short interest declined 32.1% to 144,784 shares as of August 31, representing about 2.2% of shares outstanding and 7.4 days to cover.
• Shares traded near recent highs: The stock closed at $44.17, compared with a 52-week range of $36.66 to $45.85. The company reported quarterly EPS of $1.08, in line with analyst estimates, and pays an annualized dividend of $1.16 per share, yielding 2.6%.
• Analyst sentiment remains mixed: Ratings include one Buy, two Holds and one Sell, resulting in a consensus “Hold” rating and a $45 price target. Institutional investors own 63.88% of the company, while insiders own 12.90%.

FS Bancorp, Inc. (NASDAQ:FSBW - Get Free Report) saw a large decline in short interest in August. As of August 31st, there was short interest totaling 144,784 shares, a decline of 32.1% from the August 15th total of 213,209 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average trading volume of 19,651 shares, the days-to-cover ratio is presently 7.4 days.

FS Bancorp Price Performance

NASDAQ FSBW traded down $0.30 during trading hours on Thursday, hitting $44.17. 4,145 shares of the company's stock traded hands, compared to its average volume of 15,620. FS Bancorp has a 52-week low of $36.66 and a 52-week high of $45.85. The company has a market capitalization of $328.18 million, a PE ratio of 10.18 and a beta of 0.66. 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's 50-day moving average is $43.27 and its 200-day moving average is $41.58.

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, hitting analysts' consensus estimates of $1.08. The business had revenue of $5.24 million for the quarter, compared to analyst estimates of $38.00 million. FS Bancorp had a net margin of 14.88% and a return on equity of 10.86%. Equities analysts forecast that FS Bancorp will post 4.34 EPS for the current fiscal year.

FS Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings raised shares of FS Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, June 29th. 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. Zacks Research cut FS Bancorp from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Finally, Brean Capital downgraded FS Bancorp from a "buy" rating to a "neutral" rating and set a $45.00 target price on the stock. in a research report on Monday, July 27th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.00.

Insider Buying and Selling

In other FS Bancorp news, Director Terri Degner sold 975 shares of the company's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $43.25, for a total transaction of $42,168.75. Following the completion of the transaction, the director directly owned 1,200 shares in the company, valued at approximately $51,900. This represents a 44.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 12.90% of the company's stock.

Institutional Trading of FS Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new position in shares of FS Bancorp during the 2nd quarter valued at about $26,000. Bank of America Corp DE acquired a new stake in shares of FS Bancorp during the 2nd quarter worth approximately $212,000. Deutsche Bank AG acquired a new stake in FS Bancorp during the second quarter worth $276,000. NewEdge Advisors LLC purchased a new stake in FS Bancorp in the 1st quarter valued at about $262,000. Finally, Squarepoint Ops LLC raised its stake in shares of FS Bancorp by 15.8% in the 2nd quarter. Squarepoint Ops LLC now owns 13,769 shares of the bank's stock valued at $598,000 after acquiring an additional 1,874 shares during the period. 63.88% of the stock is owned by institutional investors and hedge funds.

About FS Bancorp

FS Bancorp, Inc is the bank holding company for 1st Security Bank of Washington, a community bank headquartered in Mountlake Terrace, Washington. The company serves individuals, families, businesses and other organizations primarily through banking operations in Washington state.

Through 1st Security Bank, FS Bancorp offers deposit products, residential and commercial real estate loans, construction and land development financing, commercial and industrial loans, consumer lending and other traditional banking services.

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