Cornercap Investment Counsel Inc. Decreases Stake in FS Bancorp, Inc. (NASDAQ:FSBW)

Cornercap Investment Counsel Inc. reduced its stake in FS Bancorp, Inc. (NASDAQ:FSBW - Free Report) by 65.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,045 shares of the bank's stock after selling 11,561 shares during the period. Cornercap Investment Counsel Inc. owned 0.08% of FS Bancorp worth $269,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Copeland Capital Management LLC acquired a new position in FS Bancorp during the third quarter valued at approximately $62,000. Lazard Asset Management LLC boosted its position in FS Bancorp by 64.5% during the first 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 last quarter. SG Americas Securities LLC acquired a new position in shares of FS Bancorp during the third quarter valued at about $103,000. O Shaughnessy Asset Management LLC raised its holdings in shares of FS Bancorp by 4.3% during the first 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 period. Finally, Rhumbline Advisers raised its holdings in shares of FS Bancorp by 4.4% in the 2nd quarter. Rhumbline Advisers now owns 10,197 shares of the bank's stock worth $372,000 after acquiring an additional 434 shares during the last quarter. Institutional investors and hedge funds own 63.88% of the company's stock.

FS Bancorp Stock Performance

FSBW stock traded down $0.60 on Monday, hitting $45.87. The company had a trading volume of 14,415 shares, compared to its average volume of 15,225. FS Bancorp, Inc. has a 12-month low of $29.70 and a 12-month high of $49.15. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.74. The stock's 50-day simple moving average is $44.43 and its 200 day simple moving average is $39.78. The stock has a market cap of $358.57 million, a price-to-earnings ratio of 9.87 and a beta of 0.93.

FS Bancorp (NASDAQ:FSBW - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.15. FS Bancorp had a net margin of 18.28% and a return on equity of 13.42%. The company had revenue of $53.01 million for the quarter, compared to the consensus estimate of $37.10 million. As a group, equities research analysts expect that FS Bancorp, Inc. will post 4.52 earnings per share for the current fiscal year.

FS Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.08 annualized dividend and a dividend yield of 2.35%. FS Bancorp's dividend payout ratio (DPR) is presently 22.93%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. StockNews.com lowered shares of FS Bancorp from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. DA Davidson lifted their target price on shares of FS Bancorp from $34.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, July 25th.

FS Bancorp 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.