Zacks Investment Research lowered shares of FS Bancorp, Inc. (NASDAQ:FSBW) from a buy rating to a hold rating in a report released on Tuesday.

According to Zacks, “FS Bancorp, Inc. is a holding company of 1st Security Bank of Washington that delivers banking and financial services to local families, local and regional businesses and industry niches within distinct Puget Sound area communities. It originates home improvement loans, commercial real estate mortgage loans, commercial business loans, and second mortgage/home equity loan products, consumer loans, including home improvement loans. The company also offers various lending products, such as commercial real estate, commercial business, and residential construction lending. FS Bancorp, Inc. is headquartered in Mountlake Terrace, Washington. “

Separately, DA Davidson began coverage on FS Bancorp in a research report on Tuesday, September 12th. They issued a neutral rating and a $52.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $47.75.

FS Bancorp (FSBW) opened at 52.02 on Tuesday. FS Bancorp has a one year low of $27.80 and a one year high of $53.44. The stock has a market capitalization of $151.95 million, a PE ratio of 12.19 and a beta of 0.42. The company’s 50 day moving average price is $50.17 and its 200-day moving average price is $44.58.

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In related news, CEO Joseph C. Adams sold 4,446 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $44.80, for a total value of $199,180.80. The transaction was disclosed in a filing with the SEC, which is available through this link. 13.19% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Context BH Capital Management LP raised its position in FS Bancorp by 8.5% during the second quarter. Context BH Capital Management LP now owns 42,343 shares of the bank’s stock valued at $1,853,000 after purchasing an additional 3,322 shares during the period. Spark Investment Management LLC raised its position in FS Bancorp by 35.2% during the second quarter. Spark Investment Management LLC now owns 14,600 shares of the bank’s stock valued at $639,000 after purchasing an additional 3,800 shares during the period. Acadian Asset Management LLC raised its position in FS Bancorp by 28.6% during the second quarter. Acadian Asset Management LLC now owns 20,883 shares of the bank’s stock valued at $914,000 after purchasing an additional 4,638 shares during the period. Beese Fulmer Investment Management Inc. purchased a new stake in FS Bancorp during the second quarter valued at approximately $224,000. Finally, LSV Asset Management raised its position in FS Bancorp by 5.4% during the second quarter. LSV Asset Management now owns 17,512 shares of the bank’s stock valued at $781,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 29.50% of the company’s stock.

FS Bancorp Company Profile

FS Bancorp, Inc is a holding company for 1st Security Bank of Washington (the Bank). The Company is a diversified lender with a focus on the origination of indirect home improvement loans, also referred to as fixture secured loans, commercial real estate mortgage loans, home loans, commercial business loans and second mortgage and home equity loan products.

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