FS Bancorp (NASDAQ:FSBW) Upgraded at Zacks Research

FS Bancorp (NASDAQ:FSBW) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other brokerages also recently commented on FSBW. Brean Capital downgraded FS Bancorp from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of FS Bancorp in a research report on Friday, September 25th. Finally, DA Davidson reiterated a “neutral” rating and set a $45.00 target price on shares of FS Bancorp in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, FS Bancorp has an average rating of “Hold” and a consensus target price of $45.00.

FS Bancorp Trading Up 0.6%

FS Bancorp stock opened at $44.65 on Monday. FS Bancorp has a 12-month low of $36.66 and a 12-month high of $45.85. The firm has a market capitalization of $331.75 million, a price-to-earnings ratio of 10.29 and a beta of 0.68. The firm has a 50 day moving average of $43.54 and a 200 day moving average of $42.26. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 1.17.

FS Bancorp (NASDAQ:FSBW) last issued its quarterly earnings results on Tuesday, July 21st. The bank reported $1.08 earnings per share for the quarter, meeting the consensus estimate of $1.08. FS Bancorp had a net margin of 14.88% and a return on equity of 10.86%. The business had revenue of $5.24 million for the quarter, compared to the consensus estimate of $38.00 million. As a group, research analysts predict that FS Bancorp will post 4.36 earnings per share for the current year.

Insiders Place Their Bets

In other FS Bancorp news, Director Terri Degner sold 1,694 shares of FS Bancorp stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $42.72, for a total value of $72,367.68. Following the sale, the director directly owned 2,175 shares in the company, valued at approximately $92,916. The trade was a 43.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc bought a new stake in shares of FS Bancorp in the second quarter worth about $26,000. Bank of America Corp DE purchased a new stake in shares of FS Bancorp in the second quarter worth about $212,000. NewEdge Advisors LLC purchased a new stake in shares of FS Bancorp in the first quarter worth about $262,000. Deutsche Bank AG bought a new position in FS Bancorp during the second quarter valued at approximately $276,000. Finally, Squarepoint Ops LLC boosted its stake in FS Bancorp by 15.8% during the second quarter. Squarepoint Ops LLC now owns 13,769 shares of the bank’s stock valued at $598,000 after buying an additional 1,874 shares during the last quarter. Institutional investors own 63.88% of the company’s stock.

FS Bancorp Company Profile

FS Bancorp, Inc is the bank holding company for 1st Security Bank of Washington, a community bank headquartered in Mountlake Terrace, Washington. Through its banking subsidiary, the company provides deposit, lending and other financial services to individuals, families and businesses.

1st Security Bank offers checking and savings accounts, certificates of deposit, commercial and small-business banking, residential and commercial real estate loans, construction financing, consumer loans and home equity products.