FS Bancorp (NASDAQ:FSBW) Price Target Raised to $44.00 at DA Davidson

FS Bancorp (NASDAQ:FSBW) had its price target raised by DA Davidson from $34.00 to $44.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a neutral rating on the bank’s stock. DA Davidson also issued estimates for FS Bancorp’s Q3 2024 earnings at $1.06 EPS.

Separately, StockNews.com lowered shares of FS Bancorp from a buy rating to a hold rating in a research report on Wednesday, May 1st.

FS Bancorp Stock Up 4.0 %

NASDAQ FSBW opened at $44.62 on Thursday. The business’s fifty day simple moving average is $35.03 and its 200-day simple moving average is $34.05. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The firm has a market cap of $348.04 million, a PE ratio of 9.74 and a beta of 0.94. FS Bancorp has a 52 week low of $28.07 and a 52 week high of $44.96.

FS Bancorp (NASDAQ:FSBW) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.10. The firm had revenue of $51.81 million during the quarter, compared to analysts’ expectations of $35.40 million. FS Bancorp had a net margin of 18.05% and a return on equity of 13.65%. As a group, equities analysts anticipate that FS Bancorp will post 3.93 earnings per share for the current year.

FS Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from FS Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, August 7th. FS Bancorp’s dividend payout ratio (DPR) is presently 22.71%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Lazard Asset Management LLC raised its stake in shares of FS Bancorp by 64.5% in the 1st quarter. Lazard Asset Management LLC now owns 2,288 shares of the bank’s stock valued at $79,000 after acquiring an additional 897 shares during the period. SG Americas Securities LLC acquired a new stake in FS Bancorp in the 4th quarter valued at approximately $119,000. O Shaughnessy Asset Management LLC increased its holdings in FS Bancorp by 4.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,734 shares of the bank’s stock valued at $268,000 after purchasing an additional 320 shares during the last quarter. BNP Paribas Financial Markets raised its position in FS Bancorp by 45.2% in the fourth quarter. BNP Paribas Financial Markets now owns 10,120 shares of the bank’s stock valued at $374,000 after purchasing an additional 3,152 shares during the period. Finally, Agate Pass Investment Management LLC acquired a new position in FS Bancorp during the second quarter worth $382,000. Institutional investors and hedge funds own 63.88% 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.