FS Bancorp, Inc. (NASDAQ:FSBW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, July 3rd.
According to Zacks, “FS Bancorp, Inc. is a holding company of 1st Security Bank of Washington that delivers banking and financial services to local families, local and regional businesses and industry niches within distinct Puget Sound area communities. It originates home improvement loans, commercial real estate mortgage loans, commercial business loans, and second mortgage/home equity loan products, consumer loans, including home improvement loans. The company also offers various lending products, such as commercial real estate, commercial business, and residential construction lending. FS Bancorp, Inc. is headquartered in Mountlake Terrace, Washington. “
Other equities analysts have also recently issued reports about the stock. Raymond James Financial, Inc. initiated coverage on shares of FS Bancorp in a research note on Wednesday, April 19th. They issued an “outperform” rating and a $43.00 target price for the company. FIG Partners initiated coverage on shares of FS Bancorp in a research note on Monday, April 17th. They issued an “outperform” rating and a $44.00 target price for the company. Finally, ValuEngine raised shares of FS Bancorp from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd.
FS Bancorp (FSBW) traded up 1.23% on Monday, reaching $43.54. 7,783 shares of the company were exchanged. FS Bancorp has a 12-month low of $26.55 and a 12-month high of $46.45. The firm has a 50-day moving average of $44.16 and a 200 day moving average of $40.36. The firm has a market capitalization of $125.13 million, a P/E ratio of 11.42 and a beta of 0.43.
FS Bancorp (NASDAQ:FSBW) last posted its earnings results on Wednesday, April 26th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.10. FS Bancorp had a net margin of 17.91% and a return on equity of 14.26%. The firm had revenue of $14.40 million during the quarter, compared to analysts’ expectations of $14.05 million. On average, equities analysts predict that FS Bancorp will post $3.59 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: “FS Bancorp, Inc. (NASDAQ:FSBW) Downgraded to Hold at Zacks Investment Research” was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this news story can be viewed at https://www.chaffeybreeze.com/2017/07/29/fs-bancorp-inc-nasdaqfsbw-lowered-to-hold-at-zacks-investment-research-updated-updated-updated.html.
In other news, COO Drew B. Ness sold 1,721 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $43.51, for a total transaction of $74,880.71. Following the completion of the sale, the chief operating officer now owns 9,224 shares of the company’s stock, valued at $401,336.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Drew B. Ness sold 4,779 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $43.88, for a total transaction of $209,702.52. Following the sale, the chief operating officer now directly owns 12,721 shares of the company’s stock, valued at approximately $558,197.48. The disclosure for this sale can be found here. 13.19% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Beese Fulmer Investment Management Inc. acquired a new stake in FS Bancorp during the second quarter worth about $224,000. Spark Investment Management LLC raised its stake in FS Bancorp by 35.2% in the second quarter. Spark Investment Management LLC now owns 14,600 shares of the bank’s stock worth $639,000 after buying an additional 3,800 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of FS Bancorp by 28.6% in the second quarter. Acadian Asset Management LLC now owns 20,883 shares of the bank’s stock worth $914,000 after buying an additional 4,638 shares in the last quarter. 35.08% of the stock is owned by institutional investors and hedge funds.
FS Bancorp Company Profile
FS Bancorp, Inc is a holding company for 1st Security Bank of Washington (the Bank). The Company is a diversified lender with a focus on the origination of indirect home improvement loans, also referred to as fixture secured loans, commercial real estate mortgage loans, home loans, commercial business loans and second mortgage and home equity loan products.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for FS Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FS Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.