ValuEngine Downgrades FS Bancorp (NASDAQ:FSBW) to Strong Sell

ValuEngine cut shares of FS Bancorp (NASDAQ:FSBW) from a sell rating to a strong sell rating in a report released on Thursday, ValuEngine reports.

A number of other analysts have also commented on the company. Raymond James raised FS Bancorp from a market perform rating to an outperform rating and set a $45.00 price objective for the company in a report on Wednesday, June 17th. Zacks Investment Research lowered FS Bancorp from a buy rating to a hold rating in a report on Tuesday, June 30th.

FSBW traded up $0.13 during midday trading on Thursday, hitting $38.00. 7,150 shares of the company were exchanged, compared to its average volume of 11,449. The firm has a market capitalization of $162.70 million, a P/E ratio of 6.01 and a beta of 1.32. FS Bancorp has a 1-year low of $27.50 and a 1-year high of $64.41. The firm’s 50 day moving average price is $37.09 and its 200-day moving average price is $42.69. The company has a quick ratio of 1.01, a current ratio of 1.09 and a debt-to-equity ratio of 0.87.

FS Bancorp (NASDAQ:FSBW) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $1.20. FS Bancorp had a return on equity of 14.26% and a net margin of 22.78%. The company had revenue of $31.99 million for the quarter, compared to the consensus estimate of $24.95 million. On average, sell-side analysts predict that FS Bancorp will post 6.12 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.84 dividend on an annualized basis and a yield of 2.21%. FS Bancorp’s dividend payout ratio is presently 16.34%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its stake in shares of FS Bancorp by 48.3% during the 1st quarter. Citigroup Inc. now owns 1,188 shares of the bank’s stock valued at $43,000 after buying an additional 387 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in FS Bancorp by 35.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,252 shares of the bank’s stock worth $45,000 after acquiring an additional 325 shares in the last quarter. Wedbush Securities Inc. bought a new position in FS Bancorp in the 2nd quarter worth about $247,000. UBS Group AG grew its stake in FS Bancorp by 41.7% in the 4th quarter. UBS Group AG now owns 5,571 shares of the bank’s stock worth $355,000 after acquiring an additional 1,640 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in FS Bancorp by 19.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,007 shares of the bank’s stock worth $432,000 after acquiring an additional 1,986 shares in the last quarter. 59.89% of the stock is currently owned by institutional investors and hedge funds.

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 deposit.

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