Connor Clark & Lunn Investment Management Ltd. Acquires 1,630 Shares of FS Bancorp, Inc. $FSBW

Connor Clark & Lunn Investment Management Ltd. lifted its stake in FS Bancorp, Inc. (NASDAQ:FSBW) by 7.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,225 shares of the bank’s stock after acquiring an additional 1,630 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in FS Bancorp were worth $954,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FSBW. Copeland Capital Management LLC lifted its holdings in FS Bancorp by 16.4% during 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 in the last quarter. Advisors Asset Management Inc. increased its position in shares of FS Bancorp by 23.9% during the first quarter. Advisors Asset Management Inc. now owns 8,525 shares of the bank’s stock valued at $324,000 after buying an additional 1,647 shares during the period. Farther Finance Advisors LLC purchased a new stake in shares of FS Bancorp in the second quarter worth about $74,000. Bridgeway Capital Management LLC boosted its position in shares of FS Bancorp by 3.1% in the first quarter. Bridgeway Capital Management LLC now owns 87,693 shares of the bank’s stock valued at $3,333,000 after acquiring an additional 2,611 shares during the period. Finally, Empowered Funds LLC grew its stake in FS Bancorp by 7.2% during the first quarter. Empowered Funds LLC now owns 38,822 shares of the bank’s stock valued at $1,476,000 after acquiring an additional 2,611 shares in the last quarter. 63.88% of the stock is currently owned by hedge funds and other institutional investors.

FS Bancorp Stock Performance

FS Bancorp stock opened at $38.89 on Wednesday. FS Bancorp, Inc. has a fifty-two week low of $34.61 and a fifty-two week high of $48.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.01. The stock has a market cap of $292.45 million, a P/E ratio of 9.49 and a beta of 0.78. The firm’s fifty day moving average price is $39.68 and its 200-day moving average price is $40.03.

FS Bancorp (NASDAQ:FSBW) last released its earnings results on Tuesday, October 21st. The bank reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.10. FS Bancorp had a return on equity of 10.84% and a net margin of 15.10%.The business had revenue of $39.28 million for the quarter, compared to analysts’ expectations of $38.15 million. On average, equities research analysts expect that FS Bancorp, Inc. will post 4.26 earnings per share for the current fiscal year.

FS Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, November 6th. FS Bancorp’s dividend payout ratio (DPR) is currently 27.32%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of FS Bancorp in a report on Tuesday, October 14th. DA Davidson set a $41.00 price objective on FS Bancorp in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, FS Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Insider Buying and Selling

In other news, CEO Joseph C. Adams sold 14,646 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $41.83, for a total value of $612,642.18. Following the completion of the sale, the chief executive officer directly owned 97,775 shares in the company, valued at approximately $4,089,928.25. The trade was a 13.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Marina Cofer-Wildsmith sold 3,807 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $40.00, for a total transaction of $152,280.00. Following the completion of the sale, the director directly owned 5,590 shares of the company’s stock, valued at $223,600. This trade represents a 40.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 25,546 shares of company stock valued at $1,049,401 in the last 90 days. 12.70% of the stock is currently owned by corporate insiders.

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 deposit.