Zacks Investment Research Lowers FS Bancorp (NASDAQ:FSBW) to Hold

Zacks Investment Research cut shares of FS Bancorp (NASDAQ:FSBWGet Rating) from a buy rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

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. “

Separately, StockNews.com cut FS Bancorp from a buy rating to a hold rating in a research report on Monday.

Shares of FSBW opened at $29.37 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.99. FS Bancorp has a one year low of $29.31 and a one year high of $36.85. The stock has a market capitalization of $237.57 million, a price-to-earnings ratio of 7.81 and a beta of 1.16. The stock has a 50 day moving average price of $30.89 and a 200 day moving average price of $32.82.

FS Bancorp (NASDAQ:FSBWGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The bank reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.10. FS Bancorp had a return on equity of 13.32% and a net margin of 25.20%. On average, analysts predict that FS Bancorp will post 3.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th will be issued a $0.30 dividend. This is a boost from FS Bancorp’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Wednesday, May 11th. FS Bancorp’s dividend payout ratio is presently 21.28%.

In other FS Bancorp news, Director Mark Tueffers sold 3,500 shares of the company’s stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $33.50, for a total value of $117,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.26% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSBW. Citigroup Inc. grew its holdings in shares of FS Bancorp by 342.9% during the 3rd quarter. Citigroup Inc. now owns 815 shares of the bank’s stock worth $28,000 after purchasing an additional 631 shares during the period. Denali Advisors LLC acquired a new position in FS Bancorp during the 4th quarter worth about $34,000. Metropolitan Life Insurance Co NY acquired a new position in FS Bancorp during the 4th quarter worth about $64,000. BNP Paribas Arbitrage SA lifted its stake in FS Bancorp by 251.7% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,026 shares of the bank’s stock worth $70,000 after acquiring an additional 1,450 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new position in FS Bancorp during the 4th quarter worth about $86,000. Institutional investors and hedge funds own 64.60% of the company’s stock.

FS Bancorp Company Profile (Get Rating)

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 deposit.

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