FS Bancorp (NASDAQ:FSBW) Price Target Raised to $77.00

FS Bancorp (NASDAQ:FSBW) had its price objective raised by investment analysts at Raymond James from $72.00 to $77.00 in a report issued on Friday, The Fly reports. The firm currently has an “outperform” rating on the bank’s stock. Raymond James’ price target suggests a potential upside of 10.82% from the company’s current price.

Separately, Zacks Investment Research upgraded FS Bancorp from a “hold” rating to a “strong-buy” rating and set a $78.00 price target on the stock in a research note on Wednesday, March 31st.

FSBW stock opened at $69.48 on Friday. The firm has a market cap of $293.69 million, a PE ratio of 6.59 and a beta of 1.31. The stock has a fifty day moving average price of $68.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.04 and a quick ratio of 0.95. FS Bancorp has a one year low of $32.78 and a one year high of $73.62.

FS Bancorp (NASDAQ:FSBW) last announced its quarterly earnings data on Monday, April 26th. The bank reported $2.70 EPS for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.64. FS Bancorp had a net margin of 30.82% and a return on equity of 20.45%. The firm had revenue of $33.13 million during the quarter, compared to the consensus estimate of $29.55 million. Equities research analysts forecast that FS Bancorp will post 8.09 earnings per share for the current year.

In related news, Director Mark Tueffers sold 2,000 shares of FS Bancorp stock in a transaction on Friday, April 30th. The stock was sold at an average price of $67.20, for a total transaction of $134,400.00. Following the completion of the transaction, the director now directly owns 1,120 shares of the company’s stock, valued at $75,264. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph C. Adams sold 19,632 shares of FS Bancorp stock in a transaction on Thursday, April 29th. The stock was sold at an average price of $67.35, for a total value of $1,322,215.20. Insiders sold 36,262 shares of company stock valued at $2,485,658 in the last quarter. Company insiders own 11.26% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in FS Bancorp by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 39,541 shares of the bank’s stock valued at $2,658,000 after acquiring an additional 171 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of FS Bancorp by 4.3% in the first quarter. Ameriprise Financial Inc. now owns 4,703 shares of the bank’s stock valued at $316,000 after purchasing an additional 192 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of FS Bancorp by 3.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,245 shares of the bank’s stock valued at $397,000 after purchasing an additional 248 shares during the last quarter. Globeflex Capital L P increased its stake in shares of FS Bancorp by 1.2% during the 1st quarter. Globeflex Capital L P now owns 24,931 shares of the bank’s stock worth $1,675,000 after purchasing an additional 288 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of FS Bancorp by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 149,425 shares of the bank’s stock worth $10,041,000 after purchasing an additional 498 shares during the last quarter. Institutional investors and hedge funds own 57.64% 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.

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