FS Bancorp (NASDAQ:FSBW) Rating Lowered 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 report released on Tuesday, Zacks reports.

A number of other equities research analysts have also commented on the company. 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. Weiss Ratings reiterated a “buy (b)” rating on shares of FS Bancorp in a research report on Friday, September 25th. Finally, DA Davidson reissued a “neutral” rating and issued a $45.00 price objective on shares of FS Bancorp in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, FS Bancorp currently has a consensus rating of “Hold” and a consensus price target of $45.00.

FS Bancorp Price Performance

Shares of FS Bancorp stock opened at $43.10 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.09 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $339.63 million, a price-to-earnings ratio of 11.37 and a beta of 0.70. FS Bancorp has a 1-year low of $36.66 and a 1-year high of $45.85. The firm’s 50-day moving average price is $43.99 and its two-hundred day moving average price is $42.08.

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

Insider Buying and Selling at FS Bancorp

In other news, EVP Ben Crowl sold 5,399 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $43.78, for a total transaction of $236,368.22. Following the transaction, the executive vice president directly owned 17 shares in the company, valued at approximately $744.26. This represents a 99.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donn C. Costa sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $44.69, for a total transaction of $44,690.00. Following the sale, the executive vice president directly owned 75,172 shares in the company, valued at $3,359,436.68. This trade represents a 1.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 9,074 shares of company stock worth $395,859. 12.90% of the stock is currently owned by corporate insiders.

Institutional Trading of FS Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in FS Bancorp by 6.0% in the 1st quarter. Bank of America Corp DE now owns 6,033 shares of the bank’s stock worth $233,000 after purchasing an additional 343 shares during the last quarter. Legal & General Group Plc acquired a new position in FS Bancorp during the 2nd quarter worth $26,000. Daytona Street Capital LLC lifted its holdings in FS Bancorp by 1.8% during the 3rd quarter. Daytona Street Capital LLC now owns 38,657 shares of the bank’s stock worth $1,712,000 after buying an additional 700 shares in the last quarter. Root Financial Partners LLC bought a new position in FS Bancorp in the 3rd quarter valued at $54,000. Finally, Aristides Capital LLC boosted its position in FS Bancorp by 4.2% in the 1st quarter. Aristides Capital LLC now owns 34,437 shares of the bank’s stock valued at $1,329,000 after buying an additional 1,396 shares during the last quarter. Institutional investors and hedge funds own 63.88% of the company’s stock.

About FS Bancorp

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.