Stock News Summary: FS Bancorp (NASDAQ: FSBW)

FS Bancorp (NASDAQ: FSBW) spotted trading -21.79% off 52-week high price. On the other end, the stock has been noted 19.81% away from the low price over the last 52-weeks. The stock changed -3.66% to recent value of $49.42. The stock transacted 11186 shares during most recent day however it has an average volume of 9.92K shares. The company has 4.66M of outstanding shares and 3.95M shares were floated in the market.

On July 25, 2019, FS Bancorp (NASDAQ: FSBW) the holding company for 1st Security Bank of Washington (the Bank) reported 2019 second quarter net income of $4.5 million, or $0.98 per diluted share, compared to $4.3 million, or $1.13 per diluted share for the same period last year.

This quarter we integrated Anchor Bank’s operating systems into our core system.  We are excited to have all of our operations on one operating system, stated CEO Joe Adams. We are also pleased to announce that our Board of Directors has approved our twenty-sixth consecutive quarterly cash dividend of $0.15 per share.  The dividend will be paid on August 22, 2019, to shareholders of record as of August 8, 2019.

CFO Matthew Mullet noted, We repurchased 47,186 shares during the quarter and continue to review our long-term capital strategy with our Board of Directors.

2019 Second Quarter Highlights

Net income was $4.5 million for the second quarter of 2019, compared to $5.2 million in the previous quarter, and $4.3 million for the comparable quarter one year ago;

Net income for the second quarter included $1.2 million in acquisition related costs and $490,000 in severance related expenses;

Net income for the second quarter of 2019 adjusted for $1.2 million of acquisition costs, $526,000 of net accretion on loans, certificates of deposit (CDs) and borrowings, and $131,000 of core deposit intangible (CDI) amortization (adjusted at a 21% tax rate) would have been $5.1 million, or $1.12 per diluted share (See Non-GAAP Financial Measures);

Deposits increased $12.7 million, or 1.0%, during the quarter to $1.33 billion at June 30, 2019, compared to $1.32 billion at March 31, 2019, and increased $464.1 million, or 53.3%, from $870.1 million at June 30, 2018, mainly due to the deposits assumed from the acquisition of Anchor Bancorp (Anchor Acquisition);

 

The Company repurchased 47,186 shares of its common stock during the quarter ended June 30, 2019, at an average price per share of $48.05; and

Capital levels at the Bank were 14.7% for total risk-based capital and 11.4% for Tier 1 leverage capital at June 30, 2019.

Its earnings per share (EPS) expected to touch remained 51.30% for this year while earning per share for the next 5-years is expected to reach at 7.00%. FSBW has a an operating margin of 70.50% while its profit margin remained 34.00% for the last 12 months.

The price moved ahead of -0.71% from the mean of 20 days, 0.37% from mean of 50 days SMA and performed 1.57% from mean of 200 days price. Company’s performance for the week was 1.77%, -0.28% for month and YTD performance remained 15.25%.

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