Zacks Investment Research Upgrades FS Bancorp (NASDAQ:FSBW) to Strong-Buy

FS Bancorp (NASDAQ:FSBW) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Friday, Zacks.com reports. The brokerage currently has a $44.00 price target on the bank’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.79% from the stock’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. “

A number of other equities research analysts have also commented on FSBW. ValuEngine lowered FS Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday. Raymond James upgraded FS Bancorp from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Wednesday, June 17th.

Shares of NASDAQ FSBW opened at $38.00 on Friday. FS Bancorp has a one year low of $27.50 and a one year high of $64.41. The firm has a market capitalization of $162.70 million, a PE ratio of 6.01 and a beta of 1.32. The company has a current ratio of 1.09, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average price of $37.09 and a two-hundred day moving average price of $42.69.

FS Bancorp (NASDAQ:FSBW) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $2.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $1.20. FS Bancorp had a return on equity of 14.26% and a net margin of 22.78%. The firm had revenue of $31.99 million during the quarter, compared to analyst estimates of $24.95 million. Research analysts anticipate that FS Bancorp will post 6.12 EPS for the current year.

Several institutional investors have recently made changes to their positions in FSBW. TCW Group Inc. lifted its holdings in shares of FS Bancorp by 71.8% during the 1st quarter. TCW Group Inc. now owns 118,644 shares of the bank’s stock valued at $4,271,000 after buying an additional 49,596 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of FS Bancorp by 438.9% in the 1st quarter. Russell Investments Group Ltd. now owns 15,088 shares of the bank’s stock valued at $539,000 after acquiring an additional 12,288 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of FS Bancorp by 20.1% in the 4th quarter. Geode Capital Management LLC now owns 57,495 shares of the bank’s stock valued at $3,667,000 after acquiring an additional 9,615 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of FS Bancorp by 11.1% in the 1st quarter. Alliancebernstein L.P. now owns 83,383 shares of the bank’s stock valued at $3,002,000 after acquiring an additional 8,327 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of FS Bancorp in the 4th quarter valued at approximately $515,000. Institutional investors and hedge funds own 59.89% of the company’s stock.

About FS Bancorp

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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