FS Bancorp (FSBW) vs Waterstone Financial (WSBF)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Waterstone Financial (WSBF) has outperformed FS Bancorp (FSBW) over the past year, gaining 28.4% versus a gain of 11.5%. Over five years, FSBW leads with a +29.9% price change compared with -3.8% for WSBF. Waterstone Financial is the larger company by market cap ($348.6 million vs $346.0 million), about 1.0 times the size.
On valuation, FS Bancorp trades at a lower forward P/E (9.4x vs 19.2x for Waterstone Financial). Waterstone Financial offers the higher dividend yield (3.30% vs 2.59%).
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | FSBW | WSBF |
|---|---|---|
| Share price | $44.01 | $19.39 |
| Market cap | $346.01M | $348.57M |
| 1-day change | -0.27% | -0.36% |
| YTD return | +7.19% | +18.61% |
| 1-year return | +11.47% | +28.38% |
| 5-year return | +29.87% | -3.82% |
| P/E ratio (TTM) | 10.09 | 11.21 |
| Forward P/E | 9.43 | 19.20 |
| EPS (TTM) | $4.36 | $1.73 |
| Dividend yield | 2.59% | 3.30% |
| Annual dividend | $1.14 | $0.64 |
| 52-week high | $45.85 | $21.66 |
| 52-week low | $36.66 | $14.52 |
| Distance from 52-week high | -4.01% | -10.48% |
| Analyst consensus | hold | — |
| Avg. price target upside | +2.25% | — |
| Average volume | 23.98K | 75.87K |
| Shares outstanding | 7.86M | 17.98M |
| Employees | 593 | 593 |
| Sector | Finance | Finance |
| Industry | Banks | Savings Institutions |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- WSBF has outperformed FSBW by 16.9 percentage points over the past year.
About FS Bancorp
FSBW stock →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.
Finance · Banks · 593 employees
About Waterstone Financial
WSBF stock →Waterstone Financial, Inc. operates as a bank holding company for WaterStone Bank SSB that provides various financial services to customers in southeastern Wisconsin, the United States.
Finance · Savings Institutions · 593 employees
FSBW vs WSBF FAQ
Which is bigger, FS Bancorp or Waterstone Financial?
Waterstone Financial (WSBF) is larger, with a market capitalization of $348.57M compared with $346.01M for FS Bancorp (FSBW).
Which stock has performed better over the past year, FSBW or WSBF?
WSBF returned +28.38% over the past 12 months, compared with +11.47% for FSBW (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, FSBW or WSBF?
FSBW has the lower trailing P/E at 10.1, versus 11.2 for WSBF. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, FS Bancorp or Waterstone Financial?
Waterstone Financial has the higher yield at 3.30%, compared with 2.59% for FS Bancorp.
Are FS Bancorp and Waterstone Financial in the same industry?
Both are in the Finance sector, but in different industries: Banks for FS Bancorp and Savings Institutions for Waterstone Financial.