FS Bancorp (NASDAQ:FSBW) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of FS Bancorp, Inc. (NASDAQ:FSBW) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $41.56 and traded as high as $44.51. FS Bancorp shares last traded at $44.48, with a volume of 29,738 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FSBW. Zacks Research lowered FS Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Brean Capital downgraded FS Bancorp from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Monday, July 27th. DA Davidson restated a “neutral” rating and set a $45.00 price target on shares of FS Bancorp in a report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded FS Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.00.

FS Bancorp Stock Performance

The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $329.45 million, a PE ratio of 10.22 and a beta of 0.66. The firm’s 50-day simple moving average is $43.27 and its 200-day simple moving average is $41.58.

FS Bancorp (NASDAQ:FSBW) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $1.08 earnings per share for the quarter, meeting the consensus estimate of $1.08. The firm had revenue of $5.24 million during the quarter, compared to the consensus estimate of $38.00 million. FS Bancorp had a net margin of 14.88% and a return on equity of 10.86%. On average, research analysts predict that FS Bancorp, Inc. will post 4.34 earnings per share for the current year.

FS Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.6%. FS Bancorp’s dividend payout ratio is presently 26.73%.

Insider Activity at FS Bancorp

In related news, Director Terri Degner sold 1,694 shares of FS Bancorp stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $42.72, for a total value of $72,367.68. Following the completion of the sale, the director directly owned 2,175 shares in the company, valued at $92,916. The trade was a 43.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC lifted its position in shares of FS Bancorp by 15.8% in the 2nd quarter. Squarepoint Ops LLC now owns 13,769 shares of the bank’s stock worth $598,000 after purchasing an additional 1,874 shares during the period. Empowered Funds LLC bought a new position in FS Bancorp in the second quarter worth approximately $1,793,000. Bank of America Corp DE bought a new position in FS Bancorp in the second quarter worth approximately $212,000. Legal & General Group Plc purchased a new stake in FS Bancorp during the second quarter worth $26,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in FS Bancorp during the second quarter worth $893,000. Hedge funds and other institutional investors own 63.88% of the company’s stock.

About FS Bancorp

FS Bancorp, Inc is the bank holding company for 1st Security Bank of Washington, a community bank headquartered in Mountlake Terrace, Washington. The company serves individuals, families, businesses and other organizations primarily through banking operations in Washington state.

Through 1st Security Bank, FS Bancorp offers deposit products, residential and commercial real estate loans, construction and land development financing, commercial and industrial loans, consumer lending and other traditional banking services.