FS Bancorp, Inc. (FSBW) Lifted to “Buy” at Zacks Investment Research
FS Bancorp, Inc. (NASDAQ:FSBW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $60.00 price objective on the bank’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.31% from the company’s current price.
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 initiated coverage on FS Bancorp in a research report on Tuesday, September 12th. They set a “neutral” rating and a $52.00 target price on the stock. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $49.75.
FS Bancorp (FSBW) traded up $0.43 during mid-day trading on Tuesday, reaching $54.39. The company’s stock had a trading volume of 19,842 shares, compared to its average volume of 23,070. The company has a quick ratio of 0.95, a current ratio of 1.02 and a debt-to-equity ratio of 0.46. The firm has a market cap of $195.53, a price-to-earnings ratio of 13.41, a P/E/G ratio of 1.35 and a beta of 0.47. FS Bancorp has a 52 week low of $29.91 and a 52 week high of $57.00.
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new stake in shares of FS Bancorp during the 2nd quarter worth about $156,000. Beese Fulmer Investment Management Inc. acquired a new stake in shares of FS Bancorp during the 2nd quarter worth about $224,000. Dimensional Fund Advisors LP acquired a new stake in shares of FS Bancorp during the 2nd quarter worth about $266,000. Cambridge Investment Research Advisors Inc. raised its position in shares of FS Bancorp by 0.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,042 shares of the bank’s stock worth $271,000 after acquiring an additional 30 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of FS Bancorp during the 3rd quarter worth about $334,000. 31.54% of the stock is currently owned by institutional investors and hedge funds.
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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