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Upturn AI Summary - About
FS Bancorp Inc(FSBW)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for FSBW
10/23/2026: FSBW (2-star) has a low Upturn Star Rating. Not recommended to BUY.
FS Bancorp is a regional bank holding company serving the Pacific Northwest through 1st Security Bank of Washington. The firm benefits from a disciplined underwriting culture and deep community roots, which have historically supported stable asset quality. Its primary investment story centers on steady, slow-growth lending and dividend income, rather than aggressive expansion. Key risks include geographic concentration, sensitivity to mortgage market cycles, and competition from both national and digital banks. This stock may best suit value and dividend-focused investors seeking stability, provided they monitor the bank's ability to maintain net interest margins amid shifting regional economic and interest rate conditions.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | Growth is modest and tied primarily to regional economic cycles rather than rapid scaling. |
| Momentum investor | Weak fit | The stock typically exhibits lower volatility and does not follow sharp momentum trends. |
| Value investor | Strong fit | The company often trades at reasonable multiples of book value common to regional banks. |
| Dividend investor | Strong fit | The company provides reliable dividend income supported by steady, regulated banking operations. |
| Low-risk investor | Strong fit | As a regulated bank with conservative lending practices, it offers a more stable profile than high-growth sectors. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | Medium | Bank stocks can be sensitive to macroeconomic reports and interest rate shifts. |
| Valuation risk | Low | The stock usually trades near tangible book value, limiting extreme overvaluation risks. |
| Competition risk (Regional Banking) | Medium / high | Intense competition from larger banks and fintechs limits pricing power. |
| Business quality | Medium | It is a reliable but steady community bank without a unique moat-defining technology. |
| Dividend income | Medium | Dividends are stable but subject to capital requirements and regulatory approval. |
| Execution risk | Low | Management has a long track record of consistent operations in their home market. |
Price Behavior
Strong Uptrend
The stock has maintained a strong upward price trend across the last three quarters.
Smooth
The stock has moved along a generally orderly path with only modest fluctuations.
Analysis of Past Performance
Type Stock | Historic Profit 6.51% | Avg. Invested days 52 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 10/23/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 348.69M USD | Price to earnings Ratio 10.13 | 1Y Target Price 45 |
Price to earnings Ratio 10.13 | 1Y Target Price 45 | ||
Volume (30-day avg) 31.9K shares | Beta 0.67 | 52 Weeks Range 36.16 - 45.54 | Updated Date 10/22/2026 |
52 Weeks Range 36.16 - 45.54 | Updated Date 10/22/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 4.38 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Net Interest Income | Interest earned on commercial and residential loans minus interest paid on deposits. | The primary way they make money is by charging more for loans than they pay for customer deposits. |
| Non-Interest Income | Fees from mortgage banking, service charges on deposit accounts, and other financial services. | This includes fees for services, which helps diversify income beyond just loan interest. |
| Geography: Washington State | Branch network and lending focus across the Puget Sound region. | The company's health is closely tied to the economic prosperity of Washington state. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date 2026-10-21 | When After Market | Estimate 1.11 | Actual 0.63 |
Profitability
Profit Margin 23.02% | Operating Margin (TTM) 32.41% |
Management Effectiveness
Return on Assets (TTM) 1.05% | Return on Equity (TTM) 10.83% |
Valuation
Trailing PE 10.13 | Forward PE 8.9 | Enterprise Value 671.19M | Price to Sales(TTM) 2.41 |
Enterprise Value 671.19M | Price to Sales(TTM) 2.41 | ||
Enterprise Value to Revenue 4.73 | Enterprise Value to EBITDA - | Shares Outstanding 7.86M | Shares Floating 6.12M |
Shares Outstanding 7.86M | Shares Floating 6.12M | ||
Percent Insiders 8.23 | Percent Institutions 65.57 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
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