UPDATE: Raymond James Downgrades FS Bancorp (FSBW) to Market Perform

(Updated - January 7, 2020 8:05 AM EST)

(updating comment)

Raymond James analyst Donald Worthington downgraded FS Bancorp (NASDAQ: FSBW) from Outperform to Market Perform.

The analyst comments "FSBW shares have increased by 21.7% since the end of September 2019, which substantially outperformed the 9.5% increase in the NASDAQ Bank index (BANK) during that time period, and the current share price has moved up near our established 12-month target price of $64. We believe that the discount valuation compared with the peer group is warranted given the company’s emphasis on mortgage-banking revenue, which can be volatile depending on the movement of interest rates and gain on sale premiums."

For an analyst ratings summary and ratings history on FS Bancorp click here. For more ratings news on FS Bancorp click here.

Shares of FS Bancorp closed at $62.86 yesterday.

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