Symbols / FSBW Stock $41.03 -2.26% FS Bancorp, Inc.

Financial Services • Banks - Regional • United States • NCM
FSBW (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Financial Services
Industry Banks - Regional
CEO Mr. Joseph C. Adams J.D.
Exch · Country NCM · United States
Market Cap 307.79M
Enterprise Value 494.44M
Income 32.59M
Sales 144.04M
FCF (ttm) —
Book/sh 42.42
Cash/sh 5.23
Employees 585
Insider 10d —
IPO Jul 10, 2012
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 26.28%
P/E 9.54
Forward P/E 8.03
PEG 1.35
P/S 2.14
P/B 0.97
P/C —
EV/EBITDA —
EV/Sales 3.43
Quick Ratio —
Current Ratio —
Debt/Eq —
LT Debt/Eq —
EPS (ttm) 4.30
EPS next Y 5.11
EPS Growth 1.00%
Revenue Growth 2.60%
EPS Gr Q/Q -2.40%
Rev Gr Q/Q —
Earnings (next) 2026-07-21
Earnings (prior) 2026-04-21
ROA 1.06%
ROE 10.82%
ROIC —
Gross Margin 0.00%
Oper. Margin 32.49%
Profit Margin 23.02%
Shs Outstand 7.50M
Shs Float 6.21M
Insider Own 8.80%
Instit Own 68.38%
Short Float 1.36%
Short Ratio 6.34
Short Interest 78.65K
52W High 44.22
vs 52W High -7.21%
52W Low 36.66
vs 52W Low 11.92%
Beta 0.67
Impl. Vol. —
Rel Volume 0.29
Avg Volume 13.42K
Volume 3.85K
Target (mean) $45.50
Tgt Median $45.50
Tgt Low $44.00
Tgt High $47.00
# Analysts 2
Recom Buy
Prev Close $41.98
Price $41.03
Change -2.26%
About

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.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$45.50
Mean price target
2. Current target
$41.03
Latest analyst target
3. DCF / Fair value
$64.50
Fallback: EPS × 15 (assumed fair P/E). No FCF data; use with …
Ratings
Current target
$41.03
Low
$44.00
High
$47.00
Mean
$45.50

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-27 main DA Davidson Neutral → Neutral $46
2026-01-26 main DA Davidson Neutral → Neutral $45
2025-07-24 main DA Davidson Neutral → Neutral $44
2024-07-25 main DA Davidson Neutral → Neutral $44
2022-07-07 down Raymond James Outperform → Market Perform —
2021-06-11 main Raymond James — → Outperform $77
2021-04-27 main Raymond James — → Outperform $72
2021-02-26 main Raymond James — → Outperform $70
2021-02-01 main Raymond James — → Outperform $58
2020-10-27 main Raymond James — → Outperform $53
2020-06-17 up Raymond James Market Perform → Outperform $45
2020-01-07 down Raymond James Outperform → Market Perform —
2018-11-15 main Raymond James Outperform → Outperform $60
2017-09-13 init DA Davidson — → Neutral $52
2017-04-19 init Raymond James — → Outperform —
News
RSS: Latest FSBW news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2025-11-21 COFER-WILDSMITH MARINA Director — 2,531 $40.00 $101,261
2025-11-21 COFER-WILDSMITH MARINA Director — 2,531 $40.00 $101,261
2025-11-14 COFER-WILDSMITH MARINA Director — 3,824 $40.00 $152,961
2025-11-14 COFER-WILDSMITH MARINA Director — 17 $29.30 $498
2025-11-13 COFER-WILDSMITH MARINA Director — 8,543 $21.35 $238,734
2025-11-13 COFER-WILDSMITH MARINA Director — 8,543 $21.35 $238,734
2025-11-05 MULLET MATTHEW D President — 3,090 $21.35 $65,972
2025-08-27 ADAMS JOSEPH C Chief Executive Officer — 14,646 $41.83 $612,642
2025-08-22 ADAMS JOSEPH C Chief Executive Officer — 7,076 $40.01 $283,798
2025-08-20 ADAMS JOSEPH C Chief Executive Officer — 15,778 $40.13 $633,497
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
149.76
+5.49%
141.98
+0.43%
141.37
+18.13%
119.67
Operating Revenue
149.76
+5.49%
141.98
+0.43%
141.37
+18.13%
119.67
Selling General And Administration
61.34
+5.02%
58.41
+1.82%
57.36
+15.30%
49.75
Selling And Marketing Expense
1.25
-4.58%
1.31
-2.89%
1.35
+50.39%
0.90
General And Administrative Expense
60.09
+5.24%
57.10
+1.93%
56.01
+14.65%
48.86
Salaries And Wages
57.78
+4.88%
55.09
+2.74%
53.62
+12.58%
47.63
Other Gand A
—
—
—
—
Reconciled Depreciation
11.94
+12.96%
10.57
-16.47%
12.65
-9.68%
14.00
Total Unusual Items
-0.05
-100.64%
8.39
+674.15%
-1.46
-62.99%
-0.90
Total Unusual Items Excluding Goodwill
-0.05
-100.64%
8.39
+674.15%
-1.46
-62.99%
-0.90
Special Income Charges
-0.05
-242.11%
0.04
+102.36%
-1.61
-79.49%
-0.90
Impairment Of Capital Assets
0.05
+242.11%
-0.04
-179.17%
0.05
+4900.00%
-0.00
Restructuring And Mergern Acquisition
0.00
0.00
-100.00%
1.56
+73.94%
0.90
Net Income
33.35
-4.79%
35.02
-2.85%
36.05
+21.60%
29.65
Pretax Income
41.12
-1.11%
41.58
-8.15%
45.27
+22.40%
36.99
Net Interest Income
130.41
+5.93%
123.11
-0.16%
123.30
+18.24%
104.28
Interest Expense
66.84
+8.27%
61.73
+40.65%
43.89
+204.49%
14.41
Interest Income
197.25
+6.71%
184.84
+10.55%
167.19
+40.86%
118.69
Gain On Sale Of Security
0.00
+100.00%
-7.84
0.00
0.00
Tax Provision
7.77
+18.56%
6.56
-28.88%
9.22
+25.62%
7.34
Tax Rate For Calcs
0.00
+19.62%
0.00
-22.55%
0.00
+3.03%
0.00
Tax Effect Of Unusual Items
-0.01
-100.77%
1.33
+544.68%
-0.30
-67.93%
-0.18
Net Income Including Noncontrolling Interests
33.35
-4.79%
35.02
-2.85%
36.05
+21.60%
29.65
Net Income From Continuing Operation Net Minority Interest
33.35
-4.79%
35.02
-2.85%
36.05
+21.60%
29.65
Net Income From Continuing And Discontinued Operation
33.35
-4.79%
35.02
-2.85%
36.05
+21.60%
29.65
Net Income Continuous Operations
33.35
-4.79%
35.02
-2.85%
36.05
+21.60%
29.65
Normalized Income
33.39
+19.44%
27.96
-24.88%
37.22
+22.55%
30.37
Net Income Common Stockholders
32.78
-4.85%
34.45
-2.88%
35.48
+21.93%
29.09
Otherunder Preferred Stock Dividend
0.57
-1.05%
0.57
-1.04%
0.58
+4.33%
0.55
Diluted EPS
—
4.36
-4.39%
4.56
+23.24%
3.70
Basic EPS
—
4.48
-3.24%
4.63
+23.47%
3.75
Basic Average Shares
—
7.82
+0.40%
7.79
-1.51%
7.91
Diluted Average Shares
—
8.03
+1.60%
7.91
-1.33%
8.01
Diluted NI Availto Com Stockholders
32.78
-4.85%
34.45
-2.88%
35.48
+21.93%
29.09
Amortization
3.19
-12.14%
3.63
+4.88%
3.46
+401.30%
0.69
Amortization Of Intangibles Income Statement
3.19
-12.14%
3.63
+4.88%
3.46
+401.30%
0.69
Depreciation Amortization Depletion Income Statement
3.19
-12.14%
3.63
+4.88%
3.46
+401.30%
0.69
Depreciation And Amortization In Income Statement
3.19
-12.14%
3.63
+4.88%
3.46
+401.30%
0.69
Insurance And Claims
2.31
+15.21%
2.00
-16.18%
2.39
+95.42%
1.22
Occupancy And Equipment
7.13
+3.97%
6.86
+7.51%
6.38
+23.48%
5.17
Other Non Interest Expense
22.73
+3.56%
21.95
+10.19%
19.92
+18.55%
16.80
Professional Expense And Contract Services Expense
4.65
+14.15%
4.07
+57.59%
2.58
-18.07%
3.15
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
3,196.85
+5.54%
3,029.18
+1.90%
2,972.67
+12.90%
2,632.90
Cash And Cash Equivalents
28.22
-15.42%
33.36
-62.87%
89.86
+94.71%
46.15
Cash Financial
13.50
-29.96%
19.28
+12.86%
17.08
+62.31%
10.53
Other Short Term Investments
179.70
+7.35%
167.39
+60.39%
104.36
-54.48%
229.25
Receivables
14.61
+5.28%
13.88
-0.89%
14.01
+25.67%
11.14
Accounts Receivable
14.61
+5.28%
13.88
-0.89%
14.01
+25.67%
11.14
Net PPE
49.85
+41.90%
35.13
-5.57%
37.20
+18.70%
31.34
Gross PPE
74.61
+19.50%
62.43
-2.76%
64.20
+15.08%
55.79
Accumulated Depreciation
-24.75
+9.32%
-27.30
-1.11%
-27.00
-10.45%
-24.44
Land And Improvements
10.33
+30.38%
7.92
+0.00%
7.92
+38.67%
5.71
Buildings And Improvements
37.79
+29.38%
29.21
+1.21%
28.86
+17.20%
24.62
Machinery Furniture Equipment
17.44
+3.64%
16.83
-6.30%
17.96
+10.70%
16.23
Construction In Progress
0.38
+81.04%
0.21
+40.67%
0.15
-72.07%
0.54
Other Properties
5.79
+7.64%
5.38
-18.85%
6.63
+6.44%
6.23
Leases
2.87
-0.21%
2.88
+7.46%
2.68
+8.90%
2.46
Goodwill And Other Intangible Assets
22.72
-14.29%
26.51
-30.45%
38.11
+60.82%
23.70
Goodwill
3.59
+0.00%
3.59
+0.00%
3.59
+55.36%
2.31
Other Intangible Assets
19.13
-16.53%
22.91
-33.62%
34.52
+61.41%
21.39
Investments And Advances
321.89
+11.14%
289.63
-3.90%
301.39
+26.78%
237.72
Total Liabilities Net Minority Interest
2,889.15
+5.70%
2,733.41
+0.93%
2,708.18
+12.78%
2,401.20
Long Term Debt And Capital Lease Obligation
184.85
-47.92%
354.96
+488.93%
60.27
-75.14%
242.46
Long Term Debt
178.97
-48.78%
349.40
+554.03%
53.42
-77.36%
235.99
Long Term Capital Lease Obligation
5.89
+5.99%
5.56
-18.87%
6.85
+5.78%
6.47
Non Current Deferred Liabilities
—
—
—
—
Non Current Deferred Taxes Liabilities
—
—
—
—
Stockholders Equity
307.69
+4.03%
295.77
+11.83%
264.49
+14.15%
231.70
Common Stock Equity
307.69
+4.03%
295.77
+11.83%
264.49
+14.15%
231.70
Capital Stock
0.07
-3.85%
0.08
+0.00%
0.08
+1.30%
0.08
Common Stock
0.07
-3.85%
0.08
+0.00%
0.08
+1.30%
0.08
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
7.51
-4.16%
7.83
+0.42%
7.80
+0.83%
7.74
Ordinary Shares Number
7.51
-4.16%
7.83
+0.42%
7.80
+0.83%
7.74
Additional Paid In Capital
43.25
-22.37%
55.72
-2.87%
57.36
+3.94%
55.19
Retained Earnings
280.20
+8.98%
257.11
+11.62%
230.35
+14.00%
202.06
Gains Losses Not Affecting Retained Earnings
-15.83
+7.65%
-17.14
+26.46%
-23.31
+9.07%
-25.63
Other Equity Adjustments
-15.83
+7.65%
-17.14
+26.46%
-23.31
+9.07%
-25.63
Total Equity Gross Minority Interest
307.69
+4.03%
295.77
+11.83%
264.49
+14.15%
231.70
Total Capitalization
486.66
-24.57%
645.17
+102.94%
317.91
-32.02%
467.69
Invested Capital
486.66
-24.57%
645.17
+102.94%
317.91
-32.02%
467.69
Total Debt
184.85
-47.92%
354.96
+488.93%
60.27
-75.14%
242.46
Net Debt
150.75
-52.30%
316.04
+491.67%
53.41
-71.86%
189.84
Capital Lease Obligations
5.89
+5.99%
5.56
-18.87%
6.85
+5.78%
6.47
Net Tangible Assets
284.98
+5.84%
269.26
+18.94%
226.38
+8.84%
208.00
Tangible Book Value
284.98
+5.84%
269.26
+18.94%
226.38
+8.84%
208.00
Available For Sale Securities
108.97
-4.24%
113.79
-39.66%
188.57
—
Cash Cash Equivalents And Federal Funds Sold
28.22
-15.42%
33.36
-62.87%
89.86
+94.71%
46.15
Held To Maturity Securities
33.22
+292.95%
8.46
+0.00%
8.46
-0.17%
8.47
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
72.31
+42.28%
50.82
-34.56%
77.67
-57.99%
184.90
Cash Flow From Continuing Operating Activities
72.31
+42.28%
50.82
-34.56%
77.67
-57.99%
184.90
Net Income From Continuing Operations
33.35
-4.79%
35.02
-2.85%
36.05
+21.60%
29.65
Depreciation Amortization Depletion
11.94
+12.96%
10.57
-16.47%
12.65
-9.68%
14.00
Depreciation
11.94
+12.96%
10.57
-16.47%
12.65
-9.68%
14.00
Depreciation And Amortization
11.94
+12.96%
10.57
-16.47%
12.65
-9.68%
14.00
Other Non Cash Items
24.62
+191.12%
8.46
-74.58%
33.27
-76.34%
140.63
Stock Based Compensation
2.25
+24.81%
1.81
-10.15%
2.01
+1.98%
1.97
Asset Impairment Charge
0.05
+242.11%
-0.04
-179.17%
0.05
+4900.00%
-0.00
Deferred Tax
-0.95
+77.81%
-4.30
-520.49%
-0.69
+17.89%
-0.84
Deferred Income Tax
-0.95
+77.81%
-4.30
-520.49%
-0.69
+17.89%
-0.84
Operating Gains Losses
-8.84
+2.63%
-9.08
-35.26%
-6.71
+15.23%
-7.92
Gain Loss On Investment Securities
0.00
-100.00%
7.84
0.00
0.00
Gain Loss On Sale Of PPE
0.04
+100.47%
-8.36
0.00
0.00
Change In Working Capital
0.35
-87.82%
2.87
+176.99%
-3.73
-412.91%
1.19
Change In Receivables
-0.73
-691.13%
0.12
+105.32%
-2.33
+34.34%
-3.55
Changes In Account Receivables
-0.73
-691.13%
0.12
+105.32%
-2.33
+34.34%
-3.55
Change In Other Current Assets
4.66
-42.11%
8.05
+279.11%
-4.50
-311.33%
2.13
Change In Other Current Liabilities
-3.58
+32.50%
-5.30
-271.39%
3.09
+18.23%
2.62
Investing Cash Flow
-206.43
-98.12%
-104.20
-234.16%
77.67
+115.41%
-504.04
Cash Flow From Continuing Investing Activities
-206.43
-98.12%
-104.20
-234.16%
77.67
+115.41%
-504.04
Net PPE Purchase And Sale
-20.37
-1146.12%
-1.64
+2.15%
-1.67
-7.74%
-1.55
Purchase Of PPE
-20.37
-1146.12%
-1.64
+2.15%
-1.67
-7.74%
-1.55
Capital Expenditure
-20.37
-1146.12%
-1.64
+2.15%
-1.67
-7.74%
-1.55
Net Investment Purchase And Sale
-26.34
-383.71%
9.28
+115.80%
-58.73
-2022.70%
-2.77
Purchase Of Investment
-99.62
+9.71%
-110.34
-45.13%
-76.03
-217.21%
-23.97
Sale Of Investment
73.28
-38.74%
119.62
+591.66%
17.30
-18.42%
21.20
Net Business Purchase And Sale
0.00
0.00
-100.00%
336.16
0.00
Net Intangibles Purchase And Sale
0.00
-100.00%
16.31
0.00
0.00
Net Other Investing Changes
10.96
+182.28%
-13.33
-244.61%
9.21
+303.92%
-4.52
Financing Cash Flow
130.70
+576.59%
19.32
+114.74%
-131.08
-139.24%
334.09
Cash Flow From Continuing Financing Activities
130.70
+576.59%
19.32
+114.74%
-131.08
-139.24%
334.09
Net Issuance Payments Of Debt
-178.50
-183.39%
214.06
+330.71%
-92.78
-164.43%
144.00
Issuance Of Debt
949.94
-1.84%
967.77
-55.29%
2,164.34
-27.94%
3,003.62
Repayment Of Debt
-1,128.44
-49.72%
-753.71
+66.61%
-2,257.12
+21.07%
-2,859.62
Long Term Debt Issuance
949.94
-1.84%
967.77
-55.29%
2,164.34
-27.94%
3,003.62
Long Term Debt Payments
-1,128.44
-49.72%
-753.71
+66.61%
-2,257.12
+21.07%
-2,859.62
Net Long Term Debt Issuance
-178.50
-183.39%
214.06
+330.71%
-92.78
-164.43%
144.00
Net Common Stock Issuance
-15.89
-448.96%
-2.89
-400.69%
-0.58
+96.35%
-15.82
Common Stock Payments
-15.89
-448.96%
-2.89
-400.69%
-0.58
+96.35%
-15.82
Common Stock Dividend Paid
-10.26
-24.16%
-8.27
-6.45%
-7.76
-9.41%
-7.10
Cash Dividends Paid
-10.26
-24.16%
-8.27
-6.45%
-7.76
-9.41%
-7.10
Repurchase Of Capital Stock
-15.89
-448.96%
-2.89
-400.69%
-0.58
+96.35%
-15.82
Proceeds From Stock Option Exercised
1.17
+308.78%
-0.56
-175.00%
0.74
-30.53%
1.07
Changes In Cash
-3.42
+89.97%
-34.06
-240.41%
24.25
+62.28%
14.95
Beginning Cash Position
31.64
-51.84%
65.69
+58.53%
41.44
+56.42%
26.49
End Cash Position
28.22
-10.80%
31.64
-51.84%
65.69
+58.53%
41.44
Free Cash Flow
51.94
+5.59%
49.19
-35.28%
76.00
-58.55%
183.35
Interest Paid Supplemental Data
65.15
+3.32%
63.06
+62.76%
38.74
+253.25%
10.97
Income Tax Paid Supplemental Data
0.18
-92.24%
2.37
-77.20%
10.40
+121.52%
4.69
Sale Of Business
0.00
0.00
-100.00%
336.16
0.00
Sale Of Intangibles
0.00
-100.00%
16.31
0.00
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Trades
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