DA Davidson Cuts FS Bancorp (NASDAQ:FSBW) Price Target to $45.00

FS Bancorp (NASDAQ:FSBW) had its target price lowered by DA Davidson from $47.00 to $45.00 in a report released on Monday morning, MarketBeat reports. The brokerage currently has a neutral rating on the bank’s stock.

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of FS Bancorp in a report on Friday, January 9th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, FS Bancorp has an average rating of “Moderate Buy” and a consensus target price of $45.00.

FS Bancorp Trading Down 2.1%

NASDAQ:FSBW opened at $39.62 on Monday. The company has a fifty day moving average of $41.52 and a 200 day moving average of $40.67. FS Bancorp has a 52 week low of $34.61 and a 52 week high of $44.22. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $297.94 million, a P/E ratio of 9.26 and a beta of 0.72.

FS Bancorp (NASDAQ:FSBW) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.03). The firm had revenue of $40.01 million during the quarter, compared to analysts’ expectations of $38.20 million. FS Bancorp had a net margin of 15.19% and a return on equity of 11.16%. On average, research analysts predict that FS Bancorp will post 4.26 earnings per share for the current year.

FS Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.9%. This is a positive change from FS Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, February 6th. FS Bancorp’s dividend payout ratio is presently 26.17%.

Insiders Place Their Bets

In other news, Director Marina Cofer-Wildsmith sold 3,807 shares of FS Bancorp stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $40.00, for a total value of $152,280.00. Following the completion of the sale, the director directly owned 5,590 shares in the company, valued at $223,600. The trade was a 40.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 6,356 shares of company stock valued at $254,241. 12.70% of the stock is owned by insiders.

Institutional Investors Weigh In On FS Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of FSBW. 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. CWM LLC increased its stake in FS Bancorp by 135.0% during the third quarter. CWM LLC now owns 1,060 shares of the bank’s stock worth $42,000 after acquiring an additional 609 shares during the last quarter. Root Financial Partners LLC purchased a new stake in FS Bancorp during the 3rd quarter valued at $49,000. BNP Paribas Financial Markets raised its stake in shares of FS Bancorp by 104.3% in the third quarter. BNP Paribas Financial Markets now owns 1,330 shares of the bank’s stock valued at $53,000 after acquiring an additional 679 shares during the period. Finally, Copeland Capital Management LLC raised its position in FS Bancorp by 16.4% in the 2nd quarter. Copeland Capital Management LLC now owns 1,746 shares of the bank’s stock worth $69,000 after purchasing an additional 246 shares during the period. 63.88% of the stock is currently owned by hedge funds and other institutional investors.

FS Bancorp Company Profile

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.