FS Bancorp (NASDAQ:FSBW) Receives Downgrade to Hold Rating

FS Bancorp (NASDAQ:FSBW) has recently received a downgrade from the financial analysts at StockNews.com, who changed their rating from "buy" to "hold". This adjustment was reported in a research note released on Wednesday.

In a separate analysis, DA Davidson raised their price target for FS Bancorp shares from $34.00 to $44.00 while also assigning a "neutral" rating. This update came on July 25th and reflects a strategic outlook on the stock's performance.

Recent Stock Movement

During trading on Wednesday, shares of FSBW saw a slight increase of $0.04, reaching a price of $44.33 per share. The trading volume was 8,191 shares, which is lower than the average volume of 15,045 shares. Currently, FS Bancorp's 50-day moving average stands at $43.46, while the 200-day moving average is at $38.02. With a market capitalization of $345.60 million, the stock has a PE ratio of 9.68 and a beta of 0.93. Over the past year, the stock has seen a low of $28.07 and a high of $47.01. The firm's current ratio is 1.08, and the quick ratio is 1.06, indicating a stable liquidity position. The debt-to-equity ratio is 0.81.

Financial Performance

FS Bancorp recently revealed its earnings results for the quarter ending October 22nd. The bank reported earnings per share (EPS) of $1.29, surpassing analysts' expectations of $1.14 by $0.15. Furthermore, the company generated revenues of $53.01 million, significantly exceeding the predicted revenue of $37.10 million. FS Bancorp also reported a net margin of 18.05% and a return on equity of 13.40%. Analysts anticipate that the company will report a total EPS of 4.44 for the current fiscal year.

Institutional Investment Activities

In recent weeks, several institutional investors have altered their holdings in FS Bancorp. Assenagon Asset Management S.A., for example, increased its position by 22.7% in the third quarter, acquiring an additional 5,614 shares, bringing their total to 30,292 shares valued at approximately $1,348,000. Additionally, Copeland Capital Management LLC initiated a new position valued at about $62,000, while SG Americas Securities LLC also entered the stock with a new investment of about $103,000 during the same quarter. Dimensional Fund Advisors LP raised its holdings by 1.0%, owning 395,126 shares valued at $14,401,000 after acquiring an extra 3,811 shares. Rhumbline Advisers increased its stake by 4.4% as well. Overall, institutional investors collectively hold 63.88% of FS Bancorp's stock.

Company Overview

FS Bancorp, Inc. serves as the bank holding company for 1st Security Bank of Washington, providing financial and banking services for local families, regional businesses, and selected industry niches. The company operates through two segments: Commercial and Consumer Banking and Home Lending, offering a range of deposit products including checking accounts, money market accounts, savings accounts, and certificates of deposit.

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