FS Bancorp (FSBW) Stock Rating Lowered by Zacks Investment Research

FS Bancorp (NASDAQ:FSBW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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, ValuEngine downgraded FS Bancorp from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $50.75.

Shares of FS Bancorp (NASDAQ FSBW) traded down $0.77 during midday trading on Tuesday, hitting $55.60. The stock had a trading volume of 15,368 shares, compared to its average volume of 12,667. FS Bancorp has a 1-year low of $35.80 and a 1-year high of $59.81. The company has a quick ratio of 0.96, a current ratio of 1.04 and a debt-to-equity ratio of 0.17. The company has a market cap of $211.57, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 1.21 and a beta of 0.45.

In related news, Director Mark Tueffers sold 2,400 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $56.25, for a total transaction of $135,000.00. Following the completion of the transaction, the director now directly owns 200 shares in the company, valued at approximately $11,250. The sale was disclosed in a document filed with the SEC, which is available through this link. 13.19% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Northpointe Capital LLC grew its stake in FS Bancorp by 4.7% during the 4th quarter. Northpointe Capital LLC now owns 53,262 shares of the bank’s stock worth $2,907,000 after buying an additional 2,384 shares during the last quarter. Acadian Asset Management LLC boosted its position in FS Bancorp by 48.8% during the 4th quarter. Acadian Asset Management LLC now owns 50,218 shares of the bank’s stock worth $2,741,000 after acquiring an additional 16,472 shares during the period. Bank of Montreal Can acquired a new position in FS Bancorp during the 4th quarter worth $122,000. Maltese Capital Management LLC acquired a new position in FS Bancorp during the 3rd quarter worth $3,616,000. Finally, EJF Capital LLC acquired a new position in FS Bancorp during the 3rd quarter worth $3,616,000. Hedge funds and other institutional investors own 42.88% of the company’s stock.

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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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