Is FS Bancorp, Inc. overvalued or undervalued?

As of 21 January 2025, the valuation grade for FS Bancorp, Inc. has moved from very attractive to fair. The company is currently fairly valued. Key ratios include a P/E ratio of 9, a Price to Book Value of 0.99, and an EV to EBITDA of 7.66. In comparison to peers, OceanFirst Financial Corp. has a P/E ratio of 10.75, while Capitol Federal Financial, Inc. stands out with a P/E ratio of 14.60, indicating that FS Bancorp is positioned on the lower end of the valuation spectrum.
Despite the recent shift in valuation grade, FS Bancorp has shown resilience with a 1-year stock return of 17.57%, outperforming the S&P 500's return of 10.26% over the same period. This performance, along with its competitive ratios, suggests that while the company is fairly valued, there may still be potential for growth compared to its peers.