Fifth District Bancorp (NASDAQ:FDSB) Shares Up 1.6% - Here's Why

Key Points

• Fifth District Bancorp shares rose 1.6% to $18.65 in Friday trading, despite volume falling 44% below the average session level.
• Weiss Ratings upgraded the stock’s rating from “hold (c-)” to “hold (c),” while the broader analyst consensus remains Hold.
• The company reported quarterly earnings of $0.08 per share on $3.96 million in revenue; institutional investors including AllianceBernstein and Renaissance Technologies also increased their holdings.

Shares of Fifth District Bancorp, Inc. (NASDAQ:FDSB - Get Free Report) shot up 1.6% during trading on Friday . The stock traded as high as $18.69 and last traded at $18.65. Approximately 3,597 shares were traded during mid-day trading, a decline of 44% from the average session volume of 6,417 shares. The stock had previously closed at $18.36.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Fifth District Bancorp from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

Fifth District Bancorp Trading Up 1.6%

The firm has a market capitalization of $97.73 million, a price-to-earnings ratio of 54.85 and a beta of 0.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.06 and a current ratio of 1.06. The business has a fifty day moving average price of $17.67 and a 200 day moving average price of $16.00.

Fifth District Bancorp (NASDAQ:FDSB - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.08 earnings per share for the quarter. Fifth District Bancorp had a return on equity of 1.27% and a net margin of 6.97%.The firm had revenue of $3.96 million for the quarter.

Hedge Funds Weigh In On Fifth District Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of FDSB. Alliancebernstein L.P. grew its holdings in shares of Fifth District Bancorp by 56.0% during the 3rd quarter. Alliancebernstein L.P. now owns 133,954 shares of the company's stock worth $1,853,000 after purchasing an additional 48,103 shares during the period. Susquehanna International Group LLP raised its holdings in Fifth District Bancorp by 28.2% in the third quarter. Susquehanna International Group LLP now owns 13,149 shares of the company's stock valued at $182,000 after buying an additional 2,894 shares during the period. Renaissance Technologies LLC raised its holdings in Fifth District Bancorp by 427.7% in the fourth quarter. Renaissance Technologies LLC now owns 63,321 shares of the company's stock valued at $950,000 after buying an additional 51,321 shares during the period. Marshall Wace LLP acquired a new position in Fifth District Bancorp during the fourth quarter valued at approximately $151,000. Finally, BlackRock Inc. acquired a new position in Fifth District Bancorp during the second quarter valued at approximately $519,000.

Fifth District Bancorp Company Profile

Fifth District Bancorp is a bank holding company headquartered in Vienna, Virginia. Through its principal subsidiary, Fifth District Bank, the company offers a full suite of commercial and retail banking services designed to meet the needs of individuals, small businesses and middle-market enterprises. Operating under a national bank charter, Fifth District Bancorp focuses on relationship-driven service, providing its clients with personalized financial solutions and responsive customer support.

The bank's core business activities include deposit-taking, commercial and industrial lending, mortgage banking, and wealth management.

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