FS Bancorp (NASDAQ:FSBW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Zacks.com reports. The brokerage currently has a $41.00 price objective on the bank’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.82% 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. “

Several other equities research analysts have also recently commented on the company. ValuEngine cut FS Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, June 1st. Raymond James upgraded FS Bancorp from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Wednesday, June 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. FS Bancorp currently has a consensus rating of “Hold” and a consensus price target of $43.00.

Shares of NASDAQ FSBW traded down $2.13 during trading hours on Monday, hitting $36.34. The stock had a trading volume of 43,400 shares, compared to its average volume of 17,190. The company has a market capitalization of $155.59 million, a P/E ratio of 7.27 and a beta of 1.31. The firm’s 50-day moving average price is $39.91 and its two-hundred day moving average price is $46.94. FS Bancorp has a 52 week low of $27.50 and a 52 week high of $64.41. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 1.09.

FS Bancorp (NASDAQ:FSBW) last announced its quarterly earnings results on Friday, April 24th. The bank reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.08). The firm had revenue of $26.36 million during the quarter, compared to the consensus estimate of $23.63 million. FS Bancorp had a net margin of 19.46% and a return on equity of 11.92%. As a group, analysts expect that FS Bancorp will post 4.52 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of FSBW. TCW Group Inc. lifted its holdings in FS Bancorp by 71.8% in the 1st quarter. TCW Group Inc. now owns 118,644 shares of the bank’s stock worth $4,271,000 after purchasing an additional 49,596 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of FS Bancorp by 32.1% during the fourth quarter. Renaissance Technologies LLC now owns 88,950 shares of the bank’s stock worth $5,674,000 after buying an additional 21,600 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of FS Bancorp by 1,406.1% during the fourth quarter. Bank of Montreal Can now owns 16,657 shares of the bank’s stock worth $1,062,000 after buying an additional 15,551 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of FS Bancorp by 438.9% during the first quarter. Russell Investments Group Ltd. now owns 15,088 shares of the bank’s stock worth $539,000 after buying an additional 12,288 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of FS Bancorp by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 57,495 shares of the bank’s stock worth $3,667,000 after buying an additional 9,615 shares during the last quarter. Hedge funds and other institutional investors own 59.90% of the company’s stock.

FS Bancorp Company Profile

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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