BlackRock Inc. Invests $21.21 Million in FS Bancorp, Inc. $FSBW

BlackRock Inc. purchased a new stake in shares of FS Bancorp, Inc. (NASDAQ:FSBW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 488,775 shares of the bank’s stock, valued at approximately $21,213,000. BlackRock Inc. owned 0.09% of FS Bancorp at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in FS Bancorp by 1,852.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 703 shares of the bank’s stock worth $28,000 after purchasing an additional 667 shares during the period. BNP Paribas Financial Markets grew its position in FS Bancorp by 104.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,330 shares of the bank’s stock worth $53,000 after purchasing an additional 679 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in FS Bancorp by 489.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,980 shares of the bank’s stock valued at $78,000 after purchasing an additional 1,644 shares during the period. Deutsche Bank AG acquired a new stake in FS Bancorp during the 4th quarter valued at $193,000. Finally, Bank of America Corp DE lifted its holdings in shares of FS Bancorp by 6.0% in the first quarter. Bank of America Corp DE now owns 6,033 shares of the bank’s stock valued at $233,000 after purchasing an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 63.88% of the company’s stock.

FS Bancorp Stock Performance

Shares of FSBW opened at $43.11 on Thursday. The company has a market capitalization of $320.31 million, a PE ratio of 9.93 and a beta of 0.66. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.09 and a current ratio of 1.10. The company’s 50 day moving average price is $43.21 and its 200 day moving average price is $41.43. FS Bancorp, Inc. has a 52 week low of $36.66 and a 52 week high of $45.85.

FS Bancorp (NASDAQ:FSBW) last released its earnings results on Tuesday, July 21st. The bank reported $1.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.08. The company had revenue of $5.24 million during the quarter, compared to the consensus estimate of $38.00 million. FS Bancorp had a net margin of 14.88% and a return on equity of 10.86%. Research analysts expect that FS Bancorp, Inc. will post 4.34 EPS for the current fiscal year.

FS Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.7%. FS Bancorp’s dividend payout ratio is 26.73%.

Insider Activity

In related news, Director Terri L. Degner sold 975 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $43.25, for a total transaction of $42,168.75. Following the completion of the sale, the director directly owned 1,200 shares in the company, valued at approximately $51,900. This trade represents a 44.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. 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. Brean Capital lowered FS Bancorp from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research report on Monday, July 27th. Zacks Research downgraded FS Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings upgraded FS Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $45.00.

About FS Bancorp

FS Bancorp, Inc (NASDAQ: FSBW) is a bank holding company headquartered in Illinois that provides community banking services in the Midwestern United States. Through its wholly owned banking subsidiary, the company offers a full suite of deposit products, including checking and savings accounts, money market instruments, certificates of deposit and online banking platforms.

On the lending side, FS Bancorp extends commercial and industrial loans, residential mortgage financing, consumer credit and agricultural lending.