Rhumbline Advisers Reduces Stake in FS Bancorp, Inc. $FSBW

Rhumbline Advisers lowered its position in FS Bancorp, Inc. (NASDAQ:FSBW) by 4.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,445 shares of the bank’s stock after selling 490 shares during the period. Rhumbline Advisers owned approximately 0.12% of FS Bancorp worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in FSBW. BNP Paribas Financial Markets lifted its stake in FS Bancorp by 23.6% in the fourth quarter. BNP Paribas Financial Markets now owns 5,728 shares of the bank’s stock worth $235,000 after purchasing an additional 1,094 shares during the last quarter. Trexquant Investment LP bought a new stake in FS Bancorp in the first quarter worth about $286,000. Bank of America Corp DE lifted its stake in FS Bancorp by 45.3% in the fourth quarter. Bank of America Corp DE now owns 7,097 shares of the bank’s stock worth $291,000 after purchasing an additional 2,213 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in FS Bancorp by 23.9% in the first quarter. Advisors Asset Management Inc. now owns 8,525 shares of the bank’s stock worth $324,000 after purchasing an additional 1,647 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in FS Bancorp by 39.2% in the fourth quarter. Deutsche Bank AG now owns 8,133 shares of the bank’s stock worth $334,000 after purchasing an additional 2,292 shares during the last quarter. Institutional investors own 63.88% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson raised their price objective on shares of FS Bancorp from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, FS Bancorp presently has a consensus rating of “Hold” and a consensus price target of $44.00.

Insider Buying and Selling

In related news, CEO Joseph C. Adams sold 14,646 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $41.83, for a total value of $612,642.18. Following the completion of the transaction, the chief executive officer owned 97,775 shares of the company’s stock, valued at $4,089,928.25. The trade was a 13.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 37,500 shares of company stock valued at $1,529,937 over the last ninety days. Insiders own 12.70% of the company’s stock.

FS Bancorp Stock Performance

FS Bancorp stock opened at $41.00 on Thursday. The company has a 50 day moving average price of $40.97 and a 200-day moving average price of $39.60. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.03 and a current ratio of 1.05. FS Bancorp, Inc. has a fifty-two week low of $34.61 and a fifty-two week high of $49.15. The company has a market capitalization of $311.60 million, a PE ratio of 9.74 and a beta of 0.73.

FS Bancorp (NASDAQ:FSBW) last posted its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $37.28 million during the quarter, compared to the consensus estimate of $36.55 million. FS Bancorp had a net margin of 15.88% and a return on equity of 11.32%. As a group, equities analysts forecast that FS Bancorp, Inc. will post 4.26 earnings per share for the current year.

FS Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.12 dividend on an annualized basis and a yield of 2.7%. FS Bancorp’s payout ratio is 26.60%.

About FS Bancorp

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.