FS Bancorp, Inc. (FSBW) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of FS Bancorp, Inc. (NASDAQ:FSBW) from a hold rating to a buy rating in a report issued on Tuesday. Zacks Investment Research currently has $60.00 target price 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. “
Separately, DA Davidson started coverage on FS Bancorp in a research report on Tuesday, September 12th. They set a neutral rating and a $52.00 price objective for the company. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. FS Bancorp presently has an average rating of Buy and a consensus target price of $49.75.
Shares of FS Bancorp (NASDAQ:FSBW) opened at $56.62 on Tuesday. FS Bancorp has a 52-week low of $30.14 and a 52-week high of $57.22. The company has a market capitalization of $204.03, a price-to-earnings ratio of 13.25, a PEG ratio of 1.31 and a beta of 0.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.95 and a current ratio of 1.02.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 9th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, November 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.78%. FS Bancorp’s dividend payout ratio (DPR) is presently 10.50%.
Several large investors have recently made changes to their positions in FSBW. Stilwell Value LLC lifted its position in shares of FS Bancorp by 4,277.0% during the 2nd quarter. Stilwell Value LLC now owns 5,252,400 shares of the bank’s stock valued at $5,252,000 after acquiring an additional 5,132,400 shares during the last quarter. Northpointe Capital LLC purchased a new stake in shares of FS Bancorp in the third quarter valued at $2,628,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of FS Bancorp in the third quarter valued at $2,422,000. EAM Investors LLC purchased a new stake in shares of FS Bancorp in the third quarter valued at $600,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of FS Bancorp in the second quarter valued at $338,000. Institutional investors own 31.54% 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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