FS Bancorp (FSBW) Rating Increased to Hold at Zacks Investment Research

FS Bancorp (NASDAQ:FSBW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

Several other research firms have also recently weighed in on FSBW. ValuEngine cut FS Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Raymond James lowered their target price on FS Bancorp from $68.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, November 15th.

Shares of NASDAQ:FSBW traded down $0.59 during midday trading on Thursday, hitting $44.95. The stock had a trading volume of 4,600 shares, compared to its average volume of 12,271. FS Bancorp has a 12 month low of $41.25 and a 12 month high of $66.40. The company has a current ratio of 1.10, a quick ratio of 1.04 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $171.90 million, a PE ratio of 10.78, a P/E/G ratio of 1.19 and a beta of 0.88.

FS Bancorp (NASDAQ:FSBW) last posted its earnings results on Thursday, October 25th. The bank reported $1.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.04). FS Bancorp had a return on equity of 12.76% and a net margin of 21.47%. The firm had revenue of $17.66 million for the quarter, compared to analyst estimates of $17.96 million. On average, equities analysts predict that FS Bancorp will post 4.56 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in FSBW. American Century Companies Inc. purchased a new position in shares of FS Bancorp during the 2nd quarter valued at about $209,000. Bessemer Group Inc. lifted its stake in shares of FS Bancorp by 128.6% in the 3rd quarter. Bessemer Group Inc. now owns 4,800 shares of the bank’s stock valued at $267,000 after purchasing an additional 2,700 shares during the period. First Trust Advisors LP lifted its stake in shares of FS Bancorp by 21.5% in the 2nd quarter. First Trust Advisors LP now owns 5,224 shares of the bank’s stock valued at $330,000 after purchasing an additional 926 shares during the period. Schwab Charles Investment Management Inc. purchased a new position in FS Bancorp during the second quarter valued at $380,000. Finally, Wells Fargo & Company MN raised its stake in FS Bancorp by 267.4% during the third quarter. Wells Fargo & Company MN now owns 12,379 shares of the bank’s stock valued at $690,000 after buying an additional 9,010 shares during the last quarter. 59.89% of the stock is currently owned by hedge funds and other institutional investors.

FS Bancorp Company Profile

FS Bancorp, Inc operates as a bank holding company for 1st Security Bank of Washington that provides banking and financial services to local families, local and regional businesses, and industry niches. The company operates in two segments, Commercial and Consumer Banking; and Home Lending. It offers various deposit instruments, including checking accounts, money market deposit accounts, savings accounts, and certificates of deposits.

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