FS Bancorp (NASDAQ:FSBW) Cut to Strong Sell at Zacks Research

FS Bancorp (NASDAQ:FSBW) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday, Zacks reports.

A number of other research analysts have also commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of FS Bancorp in a research note on Friday, September 25th. DA Davidson reaffirmed a “neutral” rating and issued a $45.00 target price on shares of FS Bancorp in a research report on Wednesday, July 22nd. Finally, Brean Capital downgraded shares of FS Bancorp from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $45.00.

FS Bancorp Trading Down 1.0%

Shares of FSBW opened at $43.10 on Tuesday. FS Bancorp has a 12-month low of $36.66 and a 12-month high of $45.85. The company has a quick ratio of 1.09, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $339.63 million, a price-to-earnings ratio of 11.37 and a beta of 0.70. The stock’s 50-day moving average price is $43.99 and its 200 day moving average price is $42.08.

FS Bancorp (NASDAQ:FSBW) last announced its quarterly earnings data on Wednesday, October 21st. The bank reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.48). FS Bancorp had a return on equity of 9.25% and a net margin of 12.81%. The firm had revenue of $41.86 million during the quarter, compared to the consensus estimate of $40.70 million. As a group, research analysts predict that FS Bancorp will post 3.94 earnings per share for the current year.

Insider Buying and Selling

In other FS Bancorp news, Director Terri L. Degner sold 1,694 shares of FS Bancorp stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $42.72, for a total transaction of $72,367.68. Following the sale, the director directly owned 2,175 shares of the company’s stock, valued at approximately $92,916. The trade was a 43.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ben Crowl sold 5,399 shares of FS Bancorp stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $43.78, for a total value of $236,368.22. Following the sale, the executive vice president directly owned 17 shares in the company, valued at $744.26. The trade was a 99.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,074 shares of company stock valued at $395,859 over the last quarter. Corporate insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On FS Bancorp

Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc acquired a new stake in FS Bancorp in the 2nd quarter valued at $26,000. Root Financial Partners LLC bought a new position in shares of FS Bancorp during the third quarter valued at $54,000. Bank of America Corp DE bought a new position in shares of FS Bancorp during the second quarter valued at $212,000. NewEdge Advisors LLC acquired a new stake in shares of FS Bancorp in the 1st quarter valued at $262,000. Finally, Deutsche Bank AG acquired a new stake in shares of FS Bancorp in the 2nd quarter valued at $276,000. 63.88% of the stock is owned by institutional investors and hedge funds.

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. The bank serves individuals, families, and businesses, with a focus on communities in Washington and the Pacific Northwest. Through its community banking operations, 1st Security Bank offers deposit accounts, commercial and residential real estate loans, and financing for small and midsize businesses. Its services also include mortgage banking and consumer lending, including loans for home improvement and other consumer purchases.