Agate Pass Investment Management LLC Cuts Stock Holdings in FS Bancorp, Inc. (NASDAQ:FSBW)

Agate Pass Investment Management LLC decreased its holdings in shares of FS Bancorp, Inc. (NASDAQ:FSBW) by 50.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,240 shares of the bank’s stock after selling 5,240 shares during the quarter. Agate Pass Investment Management LLC owned 0.07% of FS Bancorp worth $233,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in FS Bancorp in the 2nd quarter worth approximately $900,000. Dimensional Fund Advisors LP lifted its position in FS Bancorp by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 395,126 shares of the bank’s stock valued at $14,401,000 after purchasing an additional 3,811 shares during the last quarter. Bank of New York Mellon Corp lifted its position in FS Bancorp by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 61,221 shares of the bank’s stock valued at $2,231,000 after purchasing an additional 2,761 shares during the last quarter. BNP Paribas Financial Markets lifted its position in FS Bancorp by 25.6% in the first quarter. BNP Paribas Financial Markets now owns 12,710 shares of the bank’s stock valued at $441,000 after purchasing an additional 2,590 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in FS Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 403,704 shares of the bank’s stock valued at $14,013,000 after purchasing an additional 2,376 shares during the last quarter. Hedge funds and other institutional investors own 63.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. StockNews.com upgraded FS Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. DA Davidson boosted their price objective on FS Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th.

FS Bancorp Price Performance

Shares of FS Bancorp stock opened at $40.91 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.08 and a debt-to-equity ratio of 0.81. The company has a market cap of $317.05 million, a PE ratio of 8.99 and a beta of 0.93. The business has a 50 day moving average of $42.84 and a 200 day moving average of $37.37. FS Bancorp, Inc. has a 52 week low of $28.07 and a 52 week high of $47.01.

FS Bancorp (NASDAQ:FSBW) last announced its earnings results on Tuesday, July 23rd. The bank reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. The company had revenue of $51.81 million during the quarter, compared to the consensus estimate of $35.40 million. FS Bancorp had a return on equity of 13.40% and a net margin of 18.05%. As a group, equities research analysts forecast that FS Bancorp, Inc. will post 4.44 earnings per share for the current year.

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.