FS Bancorp (FSBW) AI Stock Analysis

• Market Cap: $310.36M
• Dividend Yield: 2.73%
• Average Volume (3M): 15.66K
• Price to Earnings (P/E): 9.6
• Beta (1Y): 0.75
• Revenue Growth: 5.13%
• EPS Growth: -6.84%
• Country: US
• Employees: 567
• Sector: Financial
• Sector Strength: 75
• Industry: Banks - Regional
• EPS (TTM): 0.99
• Shares Outstanding: 7,697,429
• 10 Day Avg. Volume: 13,123
• 30 Day Avg. Volume: 15,660
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.00
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $44.00
• Price Target Upside: 9.13% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2

• Rating: 73 Outperform
• Price Target: $46.00 ▲(14.09%Upside)

FS Bancorp is a financially stable entity with solid growth prospects, evidenced by its robust financial performance and positive corporate strategies. While technical indicators are neutral, its attractive valuation and shareholder-focused corporate events bolster its investment appeal.

FS Bancorp Business Overview & Revenue Model

Company Description

FS 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 Money

FS 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 exhibits steady revenue growth and profitability, with a robust balance sheet indicating sound financial health. However, there is room for improvement in cash flow management and operational efficiency.

Income Statement

FS Bancorp shows consistent growth in total revenue with a notable increase from the previous year. The gross profit margin remains solid, indicating effective cost management. However, there is a slight decline in EBIT margin, suggesting pressure on operating efficiency. Net profit margin remains stable, reflecting steady profitability.

Balance Sheet

The company's balance sheet displays a prudent debt-to-equity ratio, highlighting manageable leverage levels. The equity ratio indicates a solid capital structure, supporting financial stability. Return on equity is healthy, showcasing effective use of shareholder funds. However, a reduction in cash reserves could limit liquidity.

Cash Flow

FS Bancorp demonstrates positive free cash flow, indicating strong cash generation capacity. The operating cash flow to net income ratio is robust, reflecting efficient cash operations. However, fluctuations in investing and financing cash flows suggest potential volatility in cash management.

Breakdown
Income Statement
Total Revenue
Gross Profit
EBITDA
Net Income
Balance Sheet
Total Assets
Cash, Cash Equivalents and Short-Term Investments
Total Debt
Total Liabilities
Stockholders Equity
Cash Flow
Free Cash Flow
Operating Cash Flow
Investing Cash Flow
Financing Cash Flow

FS Bancorp Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 40.32
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FSBW, the sentiment is Neutral. The current price of 40.32 is below the 20-day moving average (MA) of 41.66, above the 50-day MA of 39.94, and below the 200-day MA of 40.57, indicating a neutral trend. The MACD of 0.25 indicates Positive momentum. The RSI at 46.52 is Neutral, neither overbought nor oversold. The STOCH value of 17.25 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FSBW.

FS Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CZNC	79 Outperform	$301.37M	11.18	9.74%	5.76%	8.59%	14.56%
FMAO	76 Outperform	$354.20M	12.09	8.66%	3.43%	8.62%	37.01%
NECB	75 Outperform	$309.92M	6.60	14.25%	3.85%	4.02%	-0.62%
CIVB	73 Outperform	$379.56M	7.99	10.02%	3.27%	6.20%	18.80%
PBFS	73 Outperform	$319.03M	17.61	6.04%	―	16.29%	-12.22%
FSBW	73 Outperform	$310.36M	9.58	11.35%	2.73%	5.13%	-6.84%
Sector *	68 Neutral	¥747.59B	10.97	7.55%	3.22%	7.82%	14.69%

FS Bancorp Corporate Events

FS Bancorp Declares Regular and Special Dividends

On July 22, 2025, FS Bancorp, Inc. announced a regular quarterly cash dividend of $0.28 per share and a special dividend of $0.22 per share, both payable on August 21, 2025. The company’s second quarter net income for 2025 was reported at $7.7 million, a decrease from $9.0 million in the same quarter of the previous year. Despite the decline in net income, FS Bancorp highlighted growth in loans receivable and share repurchase activity, reflecting confidence in long-term shareholder value. The announcement underscores the company’s commitment to shareholder returns and indicates a strategic focus on balancing growth with capital management.

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.

FS Bancorp Announces New $5M Share Repurchase Plan

On July 9, 2025, FS Bancorp, Inc., the holding company for 1st Security Bank of Washington, announced an additional share repurchase program of up to $5.0 million of its common stock. This initiative follows a previous plan announced in April 2025, which still has $400,000 remaining for repurchase. The repurchase program, set to begin shortly after the announcement, allows for flexibility in purchasing shares in the open market or through private transactions. The decision reflects the company’s strategy to optimize shareholder value and manage capital effectively, considering market conditions and financial performance.

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.

FS Bancorp Holds Annual Shareholder Meeting on May 22

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.

FS Bancorp Executives Attend Financial Institutions Conference

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.