FS Bancorp (NASDAQ:FSBW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

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. “

FSBW has been the topic of a number of other reports. Raymond James upgraded shares of FS Bancorp from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Wednesday, June 17th. ValuEngine cut shares of FS Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $43.00.

Shares of FS Bancorp stock traded down $0.12 during trading hours on Tuesday, reaching $38.57. The company’s stock had a trading volume of 9,983 shares, compared to its average volume of 17,145. The company’s 50 day simple moving average is $39.83 and its 200 day simple moving average is $46.80. 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 has a one year low of $27.50 and a one year high of $64.41. The stock has a market cap of $155.59 million, a P/E ratio of 7.71 and a beta of 1.31.

FS Bancorp (NASDAQ:FSBW) last posted its quarterly earnings results on Friday, April 24th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.08). FS Bancorp had a return on equity of 11.92% and a net margin of 19.46%. The business had revenue of $26.36 million during the quarter, compared to the consensus estimate of $23.63 million. On average, sell-side analysts predict that FS Bancorp will post 4.52 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its holdings in shares of FS Bancorp by 28.0% in the 1st quarter. Invesco Ltd. now owns 19,324 shares of the bank’s stock worth $696,000 after acquiring an additional 4,224 shares during the period. Geode Capital Management LLC increased its stake in FS Bancorp by 9.6% during the 1st quarter. Geode Capital Management LLC now owns 63,014 shares of the bank’s stock valued at $2,268,000 after buying an additional 5,519 shares during the period. Alliancebernstein L.P. increased its stake in FS Bancorp by 11.1% during the 1st quarter. Alliancebernstein L.P. now owns 83,383 shares of the bank’s stock valued at $3,002,000 after buying an additional 8,327 shares during the period. Nuveen Asset Management LLC increased its stake in FS Bancorp by 97.2% during the 1st quarter. Nuveen Asset Management LLC now owns 12,143 shares of the bank’s stock valued at $437,000 after buying an additional 5,985 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in FS Bancorp by 35.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,252 shares of the bank’s stock valued at $45,000 after buying an additional 325 shares during the period. 59.90% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: What Does a Sell-Side Analyst Rating Mean?

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