FS Bancorp Q2 net income falls nearly 4%
Overview
FS Bancorp Q2 net income falls to $7.7 mln, EPS at $0.99
Total deposits decrease 2.4% qtr/qtr, borrowings rise 240.5%
Co announces special dividend of $0.22 per share
Result Drivers
LOAN DEMAND - Balance sheet growth driven by solid loan demand, per CFO Phillip Whittington
DEPOSIT DECREASE - Total deposits decreased primarily due to a reduction in brokered deposits
BORROWINGS INCREASE - Borrowings rose significantly, contributing to asset growth
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $0.99 |
|
Q2 Net Income |
| $7.70 mln |
|
Q2 Net Interest Income |
| $32.10 mln |
|
Q2 Dividend |
| $0.28 |
|
Q2 Net Interest Margin |
| 4.3% |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for FS Bancorp Inc is $43.50, about 4.2% above its July 21 closing price of $41.67
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago
Press Release: ID:nGNX7Kc4nJ
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