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.
Flawless balance sheet and undervalued.
Share Price & News
How has FS Bancorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FSBW has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: FSBW underperformed the US Mortgage industry which returned -24.3% over the past year.
Return vs Market: FSBW underperformed the US Market which returned 4.9% over the past year.
Price Volatility Vs. Market
How volatile is FS Bancorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 days ago | Simply Wall StWhat Can We Make Of FS Bancorp's (NASDAQ:FSBW) CEO Compensation?
3 weeks ago | Simply Wall StIntroducing FS Bancorp (NASDAQ:FSBW), A Stock That Climbed 80% In The Last Five Years
1 month ago | Simply Wall StHow Many FS Bancorp, Inc. (NASDAQ:FSBW) Shares Have Insiders Sold, In The Last Year?
Is FS Bancorp undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FSBW ($37.1) is trading below our estimate of fair value ($76.35)
Significantly Below Fair Value: FSBW is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FSBW is good value based on its PE Ratio (7.3x) compared to the Mortgage industry average (11.1x).
PE vs Market: FSBW is good value based on its PE Ratio (7.3x) compared to the US market (16.5x).
Price to Earnings Growth Ratio
PEG Ratio: FSBW's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: FSBW is good value based on its PB Ratio (0.8x) compared to the US Mortgage industry average (0.8x).
How is FS Bancorp forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FSBW's earnings are forecast to decline over the next 3 years (-11.8% per year).
Earnings vs Market: FSBW's earnings are forecast to decline over the next 3 years (-11.8% per year).
High Growth Earnings: FSBW's earnings are forecast to decline over the next 3 years.
Revenue vs Market: FSBW's revenue (5% per year) is forecast to grow slower than the US market (9.2% per year).
High Growth Revenue: FSBW's revenue (5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if FSBW's Return on Equity is forecast to be high in 3 years time
How has FS Bancorp performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FSBW has high quality earnings.
Growing Profit Margin: FSBW's current net profit margins (24.6%) are lower than last year (33.4%).
Past Earnings Growth Analysis
Earnings Trend: FSBW's earnings have grown significantly by 28% per year over the past 5 years.
Accelerating Growth: FSBW's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: FSBW had negative earnings growth (-10.5%) over the past year, making it difficult to compare to the Mortgage industry average (4.5%).
Return on Equity
High ROE: FSBW's Return on Equity (11.3%) is considered low.
How is FS Bancorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Financial Institutions Analysis
Asset Level: FSBW's Assets to Equity ratio (9.2x) is low.
Allowance for Bad Loans: FSBW has a sufficient allowance for bad loans (529%).
Low Risk Liabilities: 88% of FSBW's liabilities are made up of primarily low risk sources of funding.
Loan Level: FSBW has an appropriate level of Loans to Assets ratio (75%).
Low Risk Deposits: FSBW's Loans to Deposits ratio (96%) is appropriate.
Level of Bad Loans: FSBW has an appropriate level of bad loans (0.2%).
What is FS Bancorp current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FSBW's dividend (2.26%) is higher than the bottom 25% of dividend payers in the US market (1.67%).
High Dividend: FSBW's dividend (2.26%) is low compared to the top 25% of dividend payers in the US market (4.5%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, FSBW has been paying a dividend for less than 10 years.
Growing Dividend: FSBW's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (13.9%), FSBW's dividend payments are thoroughly covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Joe Adams (61yo)
Mr. Joseph C. Adams, also known as Joe, has been the Chief Executive Officer of FS Bancorp, Inc. (Former Name: 1st Security Bancorp, Inc) since September 2011. Mr. Adams has been the Chief Executive Office ...
CEO Compensation Analysis
Compensation vs Market: Joe's total compensation ($USD1.29M) is about average for companies of similar size in the US market ($USD1.35M).
Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.
|CEO & Director||8.83yrs||US$1.29m||0.91% $1.5m|
|Executive VP of Home Lending||no data||US$795.13k||1.53% $2.4m|
|Executive VP & Chief Lending Officer||no data||US$795.35k||0.77% $1.2m|
|CFO, Treasurer & Secretary||8.83yrs||US$1.02m||0.97% $1.5m|
|Senior VP of Technology & Ops and Chief Information Officer of 1St Security Bank of Washington||no data||no data||no data|
|SVP & Compliance Officer||no data||no data||no data|
|Executive Vice President of Retail Banking & Marketing||no data||no data||0.067% $106.5k|
|Executive VP & Chief Human Resources Officer||no data||no data||0.059% $93.3k|
|Senior VP of Retail Banking - 1st Security Bank of Washington||no data||no data||no data|
|Chief Credit Officer||6.83yrs||no data||0.29% $468.2k|
Experienced Management: FSBW's management team is seasoned and experienced (8.8 years average tenure).
|CEO & Director||8.83yrs||US$1.29m||0.91% $1.5m|
|Independent Director||8.83yrs||US$73.32k||0.18% $293.7k|
|Independent Chairman of the Board||8.83yrs||US$87.73k||0.69% $1.1m|
|Independent Director||14.5yrs||US$78.72k||0.20% $314.3k|
|Independent Director||12.5yrs||US$74.98k||0.87% $1.4m|
|Independent Director||4.17yrs||US$71.26k||0.33% $522.4k|
|Independent Director||8.5yrs||US$71.07k||0.082% $129.9k|
Experienced Board: FSBW's board of directors are considered experienced (8.8 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
FS Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: FS Bancorp, Inc.
- Ticker: FSBW
- Exchange: NasdaqCM
- Founded: 1936
- Industry: Thrifts and Mortgage Finance
- Sector: Banks
- Market Cap: US$159.232m
- Shares outstanding: 4.29m
- Website: https://www.fsbwa.com
Number of Employees
- FS Bancorp, Inc.
- 6920 220th Street SW
- Mountlake Terrace
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|FSBW||NasdaqCM (Nasdaq Capital Market)||Yes||Common Stock||US||USD||Jul 2012|
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. 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, second mortgage/home equity loan products, non-mortgage commercial business loans, commercial real estate loans, and construction and development loans, as well as consumer loans, which primarily include personal lines of credit, automobile, direct home improvement, loans on deposit, and recreational loans. As of April 24, 2020, it operated 21 full-service branches and seven home loan production offices in suburban communities in the greater Puget Sound area, including Snohomish, King, Pierce, Jefferson, Kitsap, Clallam, Grays Harbor, Thurston, and Lewis counties; and one loan production office in the market area of the Tri-Cities. The company was founded in 1936 and is based in Mountlake Terrace, Washington.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/07/05 23:57|
|End of Day Share Price||2020/07/02 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.