FS Bancorp (NASDAQ:FSBW) Releases Earnings Results, Misses Expectations By $0.48 EPS

FS Bancorp (NASDAQ:FSBW) posted its quarterly earnings data on Wednesday. The bank reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.48), FiscalAI reports. FS Bancorp had a return on equity of 9.39% and a net margin of 12.81%. The firm had revenue of $41.86 million for the quarter, compared to the consensus estimate of $40.70 million.

FS Bancorp Trading Up 0.0%

Shares of FSBW stock opened at $44.35 on Friday. The firm has a fifty day moving average of $43.71 and a 200-day moving average of $42.54. The stock has a market cap of $329.52 million, a price-to-earnings ratio of 10.22 and a beta of 0.68. FS Bancorp has a 52-week low of $36.66 and a 52-week high of $45.85. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.09 and a current ratio of 1.10.

FS Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be paid a $0.29 dividend. The ex-dividend date is Friday, November 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.6%. FS Bancorp’s dividend payout ratio is currently 26.73%.

Insider Buying and Selling at FS Bancorp

In other news, Director Terri Degner sold 975 shares of FS Bancorp stock in a transaction dated 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 directly owned 1,200 shares in the company, valued at approximately $51,900. The trade was a 44.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.90% of the company’s stock.

Trending Headlines about FS Bancorp

Here are the key news stories impacting FS Bancorp this week:

• Positive Sentiment: FS Bancorp declared its 55th consecutive quarterly cash dividend of $0.29 per share, payable November 20 to shareholders of record on November 6. The annualized dividend is $1.16 per share, representing an approximately 2.6% yield. Dividend announcement
• Neutral Sentiment: Third-quarter revenue was $41.86 million, above the $40.70 million analyst consensus, suggesting operating activity held up better than the headline earnings result. Key FS Bancorp third-quarter metrics
• Negative Sentiment: FS Bancorp reported third-quarter net income of $4.9 million, or $0.63 per diluted share, down from $9.2 million, or $1.18 per share, a year earlier. EPS missed the $1.11 consensus estimate by $0.48, or roughly 43%; merger-related costs were identified as a major factor behind the shortfall. FS Bancorp third-quarter earnings miss
• Negative Sentiment: The company also reported a net charge-off for the quarter ended September 30. While no amount was provided in the report summary, charge-offs can raise investor concerns about loan quality and future credit costs. FS Bancorp net charge-off report

Wall Street Analyst Weigh In

FSBW has been the topic of several recent analyst reports. Brean Capital downgraded shares of FS Bancorp from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of FS Bancorp in a research report on Friday, September 25th. Zacks Research upgraded shares of FS Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $45.00 price target on shares of FS Bancorp in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.00.

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, small and midsized businesses, professionals, and community organizations through its banking and home lending operations.

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