Brokerages Set $59.67 Target Price for FS Bancorp Inc (FSBW)

Shares of FS Bancorp Inc (NASDAQ:FSBW) have received a consensus broker rating score of 2.00 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company.

Brokers have set a 1-year consensus price objective of $59.67 for the company and are anticipating that the company will post $1.13 EPS for the current quarter, according to Zacks. Zacks has also assigned FS Bancorp an industry rank of 57 out of 257 based on the ratings given to its competitors.

Several research firms have commented on FSBW. ValuEngine lowered FS Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Zacks Investment Research lowered FS Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Finally, Raymond James cut their price target on FS Bancorp from $68.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday.

In other FS Bancorp news, CEO Joseph C. Adams sold 4,446 shares of FS Bancorp stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $59.69, for a total value of $265,381.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 11.63% of the company’s stock.

Several hedge funds have recently made changes to their positions in FSBW. BlackRock Inc. grew its stake in shares of FS Bancorp by 538.9% in the 2nd quarter. BlackRock Inc. now owns 193,733 shares of the bank’s stock valued at $12,252,000 after purchasing an additional 163,411 shares during the last quarter. EJF Capital LLC grew its stake in shares of FS Bancorp by 157.1% in the 3rd quarter. EJF Capital LLC now owns 180,000 shares of the bank’s stock valued at $10,030,000 after purchasing an additional 110,000 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of FS Bancorp by 95.1% in the 2nd quarter. Renaissance Technologies LLC now owns 124,694 shares of the bank’s stock valued at $7,887,000 after purchasing an additional 60,794 shares during the last quarter. Martingale Asset Management L P purchased a new position in shares of FS Bancorp in the 3rd quarter valued at approximately $1,617,000. Finally, Northern Trust Corp grew its stake in shares of FS Bancorp by 312.5% in the 2nd quarter. Northern Trust Corp now owns 37,389 shares of the bank’s stock valued at $2,365,000 after purchasing an additional 28,324 shares during the last quarter. Institutional investors own 58.95% of the company’s stock.

FSBW traded up $0.45 during trading on Thursday, hitting $46.54. 14,927 shares of the stock were exchanged, compared to its average volume of 17,857. The firm has a market cap of $172.45 million, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 1.47 and a beta of 0.78. FS Bancorp has a 1-year low of $42.02 and a 1-year high of $66.40. The company has a quick ratio of 1.06, a current ratio of 1.10 and a debt-to-equity ratio of 0.72.

FS Bancorp (NASDAQ:FSBW) last released its quarterly earnings results on Thursday, October 25th. The bank reported $1.07 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.04). The firm had revenue of $17.66 million for the quarter, compared to analyst estimates of $17.96 million. FS Bancorp had a return on equity of 12.76% and a net margin of 21.47%. Equities analysts expect that FS Bancorp will post 4.52 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Thursday, November 8th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, November 7th. This represents a $0.56 annualized dividend and a dividend yield of 1.20%. FS Bancorp’s dividend payout ratio (DPR) is currently 13.43%.

About FS Bancorp

FS Bancorp, Inc operates as a bank holding company for 1st Security Bank of Washington that provides banking and financial services to local families, local and regional businesses, and industry niches. The company operates in two segments, Commercial and Consumer Banking; and Home Lending. It offers various deposit instruments, including checking accounts, money market deposit accounts, savings accounts, and certificates of deposits.

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