Agate Pass Investment Management LLC Makes New Investment in FS Bancorp, Inc. $FSBW

Agate Pass Investment Management LLC purchased a new position in shares of FS Bancorp, Inc. (NASDAQ:FSBW) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 5,240 shares of the bank’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FSBW. Bank of America Corp DE raised its position in FS Bancorp by 45.3% in the 4th 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 period. GAMMA Investing LLC raised its position in FS Bancorp by 12,586.3% in the 1st quarter. GAMMA Investing LLC now owns 10,149 shares of the bank’s stock worth $386,000 after purchasing an additional 10,069 shares during the period. D.A. Davidson & CO. purchased a new stake in FS Bancorp in the 1st quarter worth about $365,000. Royce & Associates LP purchased a new stake in FS Bancorp in the 1st quarter worth about $617,000. Finally, De Lisle Partners LLP raised its position in FS Bancorp by 1.3% in the 1st quarter. De Lisle Partners LLP now owns 379,921 shares of the bank’s stock worth $14,462,000 after purchasing an additional 5,000 shares during the period. 63.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FS Bancorp

In other news, CEO Joseph C. Adams sold 14,646 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 97,775 shares in the company, valued at approximately $4,089,928.25. The trade was a 13.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 37,500 shares of company stock valued at $1,529,937. Insiders own 12.70% of the company’s stock.

FS Bancorp Price Performance

FS Bancorp stock opened at $37.58 on Friday. The stock has a market cap of $285.61 million, a price-to-earnings ratio of 8.93 and a beta of 0.74. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.05 and a quick ratio of 1.03. FS Bancorp, Inc. has a 1 year low of $34.61 and a 1 year high of $49.15. The firm has a 50-day moving average of $40.74 and a two-hundred day moving average of $39.83.

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

FS Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a $0.28 dividend. The ex-dividend date was Thursday, August 7th. This represents a $1.12 annualized dividend and a dividend yield of 3.0%. FS Bancorp’s payout ratio is currently 26.60%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. DA Davidson increased their price objective on shares of FS Bancorp from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of FS Bancorp in a research report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

FS Bancorp 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 deposit.