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FS Bancorp Inc (FSBW)
NASDAQ:FSBW
US Market

FS Bancorp (FSBW) AI Stock Analysis

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FS Bancorp

(NASDAQ:FSBW)

Rating:70Neutral
Price Target:
$43.00
▲(0.12%Upside)
The stock is supported by strong financial performance and attractive valuation, indicating stability and potential for growth. The recent executive change is a positive corporate event, enhancing future prospects. However, technical indicators are neutral, suggesting a cautious market sentiment.

FS Bancorp (FSBW) vs. SPDR S&P 500 ETF (SPY)

FS Bancorp Business Overview & Revenue Model

Company DescriptionFS Bancorp (FSBW) is a financial services company primarily engaged in providing banking products and services. Operating through its subsidiary, 1st Security Bank of Washington, the company offers a range of financial products including savings accounts, checking accounts, personal and business loans, mortgage lending, and other financial services to customers in Washington State. FS Bancorp focuses on serving individuals, businesses, and local communities, with a commitment to delivering personalized banking experiences.
How the Company Makes MoneyFS Bancorp generates revenue through a variety of financial services and products offered by its subsidiary, 1st Security Bank of Washington. The company earns interest income from loans provided to individuals and businesses, including personal loans, mortgage loans, and commercial loans. Additionally, the bank generates non-interest income through fees associated with deposit accounts, loan servicing, and other banking services. FS Bancorp's business model relies on the interest rate spread between the interest income earned on loans and the interest paid on customer deposits. The company also engages in investment activities to enhance its earnings. Significant factors contributing to its revenue include economic conditions, interest rate environments, and the bank's ability to attract and retain customers through competitive product offerings and exceptional service.

FS Bancorp Financial Statement Overview

Summary
FS Bancorp shows solid revenue growth and strong operational margins, indicative of a well-managed income statement. The balance sheet reflects a healthy equity position but is tempered by the presence of debt. Cash flow management needs improvement as indicated by fluctuating operating cash flows. Overall, the company is on a stable financial trajectory, with potential areas for improvement in cash flow efficiency and debt management.
Income Statement
75
Positive
FS Bancorp has demonstrated consistent revenue growth from 2019 to 2024. The gross profit margin remains robust due to high gross profit relative to total revenue. The EBIT margin has improved significantly in the latest year, reflecting enhanced operational efficiency. However, the net profit margin has slightly decreased recently, indicating increased expenses or reduced income in other areas.
Balance Sheet
68
Positive
The company's debt-to-equity ratio has decreased over time, indicating improved leverage management. Stockholders' equity has grown, contributing to a stable equity ratio, which suggests financial stability. However, the total debt level remains a concern, which could affect future leverage.
Cash Flow
60
Neutral
There is a decline in operating cash flow from 2023 to 2024. The operating cash flow to net income ratio has worsened, indicating less effective cash conversion. Despite this, the free cash flow remains positive, although it has not shown consistent growth.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue141.98M139.02M119.67M121.36M127.41M
Gross Profit141.98M139.02M119.67M121.36M127.41M
EBITDA0.000.0050.99M62.60M63.47M
Net Income35.02M36.05M29.65M37.41M39.26M
Balance Sheet
Total Assets3.03B2.97B2.63B2.29B2.11B
Cash, Cash Equivalents and Short-Term Investments300.45M65.69M275.40M308.39M281.87M
Total Debt354.96M150.12M242.46M96.71M180.99M
Total Liabilities2.73B2.71B2.40B97.90M181.04M
Stockholders Equity295.77M264.49M231.70M247.51M230.01M
Cash Flow
Free Cash Flow49.19M76.00M183.35M107.03M-33.70M
Operating Cash Flow50.82M77.67M184.90M109.01M-32.32M
Investing Cash Flow-104.20M77.67M-504.04M-310.83M-270.69M
Financing Cash Flow19.32M-131.08M334.09M136.74M348.81M

FS Bancorp Technical Analysis

Technical Analysis Sentiment
Positive
Last Price42.95
Price Trends
50DMA
39.22
Positive
100DMA
38.44
Positive
200DMA
40.70
Positive
Market Momentum
MACD
0.67
Negative
RSI
74.99
Negative
STOCH
92.83
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FSBW, the sentiment is Positive. The current price of 42.95 is above the 20-day moving average (MA) of 39.08, above the 50-day MA of 39.22, and above the 200-day MA of 40.70, indicating a bullish trend. The MACD of 0.67 indicates Negative momentum. The RSI at 74.99 is Negative, neither overbought nor oversold. The STOCH value of 92.83 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FSBW.

FS Bancorp Risk Analysis

FS Bancorp disclosed 30 risk factors in its most recent earnings report. FS Bancorp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

FS Bancorp Peers Comparison

Overall Rating
UnderperformOutperform
Sector (58)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
78
Outperform
$311.44M11.539.83%5.57%1.17%15.00%
76
Outperform
$389.22M11.079.07%2.71%9.51%-2.12%
75
Outperform
$346.10M7.0515.25%3.24%11.43%10.33%
73
Outperform
$323.16M17.846.04%16.29%-12.22%
72
Outperform
$386.71M14.188.18%3.14%11.91%25.60%
70
Neutral
$330.60M9.8711.82%2.61%7.35%-4.60%
58
Neutral
$12.97B5.12-2.61%5.35%5.83%-54.44%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
FSBW
FS Bancorp
42.95
9.87
29.84%
CZNC
Citizens & Northern
20.10
3.81
23.39%
CIVB
Civista Bancshares
25.08
11.00
78.12%
NECB
Northeast Community Bancorp
24.68
7.19
41.11%
FMAO
Farmers & Merchants Bancorp
28.19
7.49
36.18%
PBFS
Pioneer Bancorp
12.50
2.22
21.60%

FS Bancorp Corporate Events

Executive/Board ChangesShareholder Meetings
FS Bancorp Holds Annual Shareholder Meeting on May 22
Neutral
May 29, 2025

FS Bancorp, Inc. held its Annual Meeting on May 22, 2025, where several proposals were voted on by shareholders. Key outcomes included the election of directors Ted A. Leech and Marina Cofer-Wildsmith for three-year terms, and Terri L. Degner for a one-year term. Shareholders also approved the executive compensation package and decided that an advisory vote on executive compensation will be held annually. Additionally, the appointment of Moss Adams LLP as the independent registered public accounting firm for the year ending December 31, 2025, was ratified.

The most recent analyst rating on (FSBW) stock is a Hold with a $45.00 price target. To see the full list of analyst forecasts on FS Bancorp stock, see the FSBW Stock Forecast page.

Business Operations and Strategy
FS Bancorp Executives Attend Financial Institutions Conference
Neutral
May 5, 2025

FS Bancorp, Inc. announced that its President, Matthew D. Mullet, along with other key executives, will attend the 27th Annual Financial Institutions Conference in Scottsdale, Arizona, from May 5-7, 2025. This participation underscores the company’s commitment to engaging with industry peers and stakeholders, potentially impacting its strategic positioning and stakeholder relations.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jun 24, 2025