FS Bancorp (NASDAQ:FSBW) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of FS Bancorp (NASDAQ:FSBW) from a hold rating to a sell rating in a research report sent to investors on Wednesday, 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. “

Other analysts also recently issued research reports about the company. DA Davidson reaffirmed a neutral rating on shares of FS Bancorp in a research note on Tuesday. ValuEngine downgraded FS Bancorp from a hold rating to a sell rating in a research note on Friday, May 24th.

FSBW traded down $0.72 on Wednesday, hitting $47.63. 5,871 shares of the company’s stock traded hands, compared to its average volume of 6,755. The firm has a 50 day simple moving average of $49.60. The company has a market capitalization of $213.86 million, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 1.29 and a beta of 1.02. FS Bancorp has a one year low of $41.25 and a one year high of $62.40. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.55.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Wednesday, August 7th. FS Bancorp’s payout ratio is 12.85%.

In other FS Bancorp news, VP Debra Lynn Steck sold 30,540 shares of FS Bancorp stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $48.02, for a total value of $1,466,530.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 8.62% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC increased its stake in FS Bancorp by 22.2% in the 1st quarter. Wedge Capital Management L L P NC now owns 15,793 shares of the bank’s stock worth $797,000 after acquiring an additional 2,874 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of FS Bancorp by 20.3% in the 4th quarter. BlackRock Inc. now owns 195,350 shares of the bank’s stock worth $8,375,000 after purchasing an additional 32,949 shares during the period. Mackay Shields LLC purchased a new position in shares of FS Bancorp in the 4th quarter worth approximately $206,000. Stifel Financial Corp boosted its holdings in shares of FS Bancorp by 41.7% in the 4th quarter. Stifel Financial Corp now owns 17,000 shares of the bank’s stock worth $729,000 after purchasing an additional 5,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of FS Bancorp by 18.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 93,986 shares of the bank’s stock worth $4,030,000 after purchasing an additional 14,626 shares during the period. 56.25% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Article: How Do I Invest in Dividend Stocks

Get a free copy of the Zacks research report on FS Bancorp (FSBW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for FS Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FS Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.