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

Zacks Research downgraded shares of FS Bancorp (NASDAQ:FSBW) from a hold rating to a strong sell rating in a report released on Tuesday morning,Zacks reports.

A number of other equities research analysts also recently issued reports on FSBW. Weiss Ratings reissued a “buy (b)” rating on shares of FS Bancorp in a research report on Friday, September 25th. Brean Capital cut FS Bancorp from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Monday, July 27th. Finally, 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. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, FS Bancorp presently has a consensus rating of “Hold” and an average price target of $45.00.

FS Bancorp Stock Performance

NASDAQ FSBW opened at $43.10 on Tuesday. The firm has a 50-day moving average price of $43.99 and a two-hundred day moving average price of $42.08. FS Bancorp has a 12-month low of $36.66 and a 12-month high of $45.85. The company has a market capitalization of $339.63 million, a P/E ratio of 11.37 and a beta of 0.70. The company has a quick ratio of 1.09, a current ratio of 1.08 and a debt-to-equity ratio of 1.26.

FS Bancorp (NASDAQ:FSBW) last announced its earnings results on Wednesday, October 21st. The bank reported $0.63 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.48). FS Bancorp had a return on equity of 9.25% and a net margin of 12.81%. The business had revenue of $41.86 million for the quarter, compared to the consensus estimate of $40.70 million. Analysts anticipate that FS Bancorp will post 3.94 earnings per share for the current year.

FS Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be given a $0.29 dividend. The ex-dividend date is Friday, November 6th. This represents a $1.16 annualized dividend and a dividend yield of 2.7%. FS Bancorp’s payout ratio is presently 30.61%.

Insider Transactions at FS Bancorp

In related news, Director Terri Degner sold 975 shares of the stock in a transaction that occurred 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 sale, the director owned 1,200 shares in the company, valued at approximately $51,900. This trade represents a 44.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ben Crowl sold 5,399 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $43.78, for a total transaction of $236,368.22. Following the sale, the executive vice president owned 17 shares in the company, valued at $744.26. This represents a 99.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 9,074 shares of company stock valued at $395,859. Company insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On FS Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of FS Bancorp in the 2nd quarter valued at $21,213,000. De Lisle Partners LLP bought a new stake in shares of FS Bancorp during the 2nd quarter worth $16,956,000. Advisors Asset Management Inc. bought a new stake in shares of FS Bancorp during the 3rd quarter worth $11,338,000. Royce & Associates LP lifted its position in shares of FS Bancorp by 6.2% during the 3rd quarter. Royce & Associates LP now owns 107,663 shares of the bank’s stock worth $4,661,000 after buying an additional 6,321 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in FS Bancorp in the second quarter valued at about $2,150,000. 63.88% of the stock is currently owned by institutional investors.

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 bank serves individuals, families, and businesses, with a focus on communities in Washington and the Pacific Northwest. Through its community banking operations, 1st Security Bank offers deposit accounts, commercial and residential real estate loans, and financing for small and midsize businesses. Its services also include mortgage banking and consumer lending, including loans for home improvement and other consumer purchases.