Zacks Investment Research upgraded shares of FS Bancorp, Inc. (NASDAQ:FSBW) from a hold rating to a buy rating in a report published on Monday morning. They currently have $51.00 price objective on the bank’s stock.
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. “
A number of other brokerages also recently issued reports on FSBW. ValuEngine upgraded FS Bancorp from a buy rating to a strong-buy rating in a research report on Friday, June 2nd. Raymond James Financial, Inc. started coverage on FS Bancorp in a research report on Wednesday, April 19th. They set an outperform rating and a $43.00 price objective on the stock. Finally, FIG Partners started coverage on FS Bancorp in a research report on Monday, April 17th. They set an outperform rating and a $44.00 price objective on the stock.
Shares of FS Bancorp (NASDAQ:FSBW) traded down 1.77% during trading on Monday, reaching $44.35. The company’s stock had a trading volume of 1,523 shares. FS Bancorp has a 12-month low of $25.13 and a 12-month high of $46.45. The company has a 50 day moving average of $44.41 and a 200-day moving average of $38.87. The stock has a market cap of $127.46 million, a price-to-earnings ratio of 11.63 and a beta of 0.43.
FS Bancorp (NASDAQ:FSBW) last issued its quarterly earnings data on Wednesday, April 26th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. FS Bancorp had a return on equity of 14.26% and a net margin of 17.91%. The business had revenue of $14.40 million for the quarter, compared to the consensus estimate of $14.05 million. Analysts forecast that FS Bancorp will post $3.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th were given a dividend of $0.11 per share. The ex-dividend date was Tuesday, May 9th. This is an increase from FS Bancorp’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 0.97%. FS Bancorp’s dividend payout ratio is 11.43%.
In other FS Bancorp news, COO Drew B. Ness sold 1,721 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $43.51, for a total transaction of $74,880.71. Following the sale, the chief operating officer now directly owns 9,224 shares in the company, valued at $401,336.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Drew B. Ness sold 4,779 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $43.88, for a total value of $209,702.52. Following the sale, the chief operating officer now owns 12,721 shares in the company, valued at $558,197.48. The disclosure for this sale can be found here. Corporate insiders own 13.19% of the company’s stock.
About FS Bancorp
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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