FS Bancorp (NASDAQ:FSBW) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of FS Bancorp (NASDAQ:FSBWFree Report) from a hold rating to a buy rating in a report published on Wednesday morning.

FS Bancorp Stock Performance

FS Bancorp stock opened at $33.55 on Wednesday. FS Bancorp has a 1-year low of $26.08 and a 1-year high of $38.70. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $262.03 million, a PE ratio of 7.36 and a beta of 0.92. The firm’s 50 day simple moving average is $33.75 and its 200 day simple moving average is $32.78.

FS Bancorp (NASDAQ:FSBWGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The bank reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.21. The firm had revenue of $35.91 million for the quarter, compared to analysts’ expectations of $34.80 million. FS Bancorp had a net margin of 19.21% and a return on equity of 15.16%. As a group, analysts expect that FS Bancorp will post 4.22 earnings per share for the current fiscal year.

FS Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were issued a dividend of $0.26 per share. This is a positive change from FS Bancorp’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.04 annualized dividend and a dividend yield of 3.10%. FS Bancorp’s payout ratio is presently 22.81%.

Institutional Investors Weigh In On FS Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG grew its stake in FS Bancorp by 103.2% in the 1st quarter. UBS Group AG now owns 1,443 shares of the bank’s stock worth $43,000 after buying an additional 733 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in FS Bancorp in the third quarter worth $46,000. BNP Paribas Arbitrage SNC increased its stake in FS Bancorp by 2,203.8% in the second quarter. BNP Paribas Arbitrage SNC now owns 1,797 shares of the bank’s stock valued at $54,000 after acquiring an additional 1,719 shares during the last quarter. California State Teachers Retirement System purchased a new stake in FS Bancorp during the second quarter valued at about $66,000. Finally, Wells Fargo & Company MN lifted its stake in FS Bancorp by 5,155.1% during the second quarter. Wells Fargo & Company MN now owns 2,575 shares of the bank’s stock worth $77,000 after purchasing an additional 2,526 shares during the last quarter. 63.88% of the stock is owned by hedge funds and other institutional investors.

FS Bancorp Company Profile

(Get Free Report)

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.

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