Is FS Bancorp, Inc. (FSBW) Overvalued?
We dive into why FS Bancorp, Inc. (FSBW) could be considered overvalued on 2026-08-17, based on AAII’s Value Score and Grade.Jenna Brashear
A+ Stock Grade Summary:
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COMPANY SUMMARY
FS Bancorp, Inc. operates as a bank holding company for 1st Security Bank of Washington that provides banking and financial services to local families, local and regional businesses, and industry niches in Washington. The company operates in two segments, Commercial and Consumer Banking; and Home Lending. It offers various deposit instruments, including checking accounts, money market deposit accounts, savings accounts, and certificates of deposit. The company provides one-to-four-family residential first mortgages loans, home equity loan products, commercial business loans, commercial real estate loans, and construction and development loans, as well as consumer loans, which include personal lines of credit, credit cards, automobile, direct home improvement, loans on deposit, and recreational loans. Further, it provides online banking platforms, mobile banking apps, and telephone banking services, as well as cash management services. The company operates full bank service branches and home loan production offices in suburban communities in the greater Puget Sound area, including Snohomish, King, Pierce, Kitsap, Clallam, Jefferson, Grays Harbor, Thurston, and Benton counties; Oregon; and a loan production office in the market area of the Tri-Cities. The company was founded in 1936 and is headquartered in Mountlake Terrace, Washington.
Commentary & Analysis
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Financial Summary
| Share Statistics | FSBW | Industry Median |
Percentile (All Stocks) |
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| Market Cap (Mil) | $321.2 | $741.3 | 32% |
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| Shares Out (Mil) | 7.5 | 16.0 | 18% |
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| Institutional Ownership | 87.1% | 84.0% | 55% |
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| Float (Mil) | 6.1 | 21.6 | 14% |
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| Beta | 0.66 | 0.45 | 39% |
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| Avg Daily Volume (000s) | 22 | 41 | 21% |
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| Price Change (52-week) |
3.8% | 95.0% | 53% |
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| Growth | FSBW | Industry Median |
Percentile (All Stocks) |
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| Sales (5yr) | 4.2% | 7.8% | 33% |
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| Net Income (5yr) | (3.3%) | 11.1% | 36% |
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| EPS (5yr) | (0.9%) | 10.1% | 30 |
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| Dividends (5yr) | 21.7% | 3.6% | 81% |
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| Cash Flow (5yr) | (15.8%) | (17.1%) | 46% |
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| Estimates | Qtrly | Current Fiscal Year |
Next Fiscal Year |
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| # of Estimates | 3 | 3 | 3 | |
| Current EPS | $1.107 | $4.340 | $4.667 | |
| Month Ago EPS | $1.107 | $4.340 | $4.667 | |
| # Rev Up | 0 | 0 | 0 | |
| # Rev Down | 2 | 1 | 1 | |
| Three Months Ago EPS | $1.193 | $4.507 | $5.130 | |
| Year/Year Chg | 6.4% | 1.2% | na | |
| Financials | FSBW | Industry Median |
Percentile (All Stocks) |
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| Sales (TTM) (Mil) | $145 | $193 | 29% |
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| Net Income (TTM) (Mil) | $33 | $55 | 52% |
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| EPS (TTM) | $4.452 | $2.600 | 84% |
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| Operating Cash Flow (TTM) (Mil) | $118 | $34 | 53% |
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| Net Cash Flow (TTM) (Mil) | ($4) | $2 | 35% |
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| Long-Term Debt (Q1) (Mil) | $380 | $98 | 56% |
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| Enterprise Value (Q1) (Mil) | na | $0 | na |
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| Valuation | FSBW | Industry Median |
Percentile (All Stocks) |
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| P/B | 1.01 | 1.27 | 23% |
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| P/E | 10.0 | 12.5 | 17% |
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| Dividend Yield | 2.6% | 2.2% | 81% |
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| PEG (5yr hist) | na | 1.1 | na |
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| Ratios | FSBW | Industry Median |
Percentile (All Stocks) |
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| Gross Margin | na | 63.7% | na |
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| Net Margin | 23.0% | 29.2% | 82% |
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| ROA | 1.0% | 1.1% | 46% |
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| ROE | 10.8% | 11.3% | 59% |
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| Liabilities to Assets | 90.0% | 89.7% | 86% |
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| F-Score | 4 | 4 | 33% |
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Passing Stock Screens
As of 9/14/2026, from a list of 60 stock screening strategies,
GURU STRATEGY
Graham--Defensive Investor (Utility) Screen
Factors: Yield, Value, Quality, Industry/Sector
Graham's approach leads to three separate screens that focus on the concept of intrinsic value, justified by a firm's financial strength.
| Performance Since Inception: | 6.8% |
| +/- S&P 500: | -0.7 |
