First Financial Northwest, Inc. (NASDAQ:FFNW) Position Maintained by Creative Planning
Creative Planning continued to hold its stake in shares of First Financial Northwest, Inc. (NASDAQ:FFNW) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,409 shares of the bank’s stock at the end of the second quarter. Creative Planning’s holdings in First Financial Northwest were worth $152,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Spark Investment Management LLC boosted its stake in shares of First Financial Northwest by 50.5% in the first quarter. Spark Investment Management LLC now owns 16,100 shares of the bank’s stock valued at $284,000 after buying an additional 5,400 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of First Financial Northwest by 232.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 25,272 shares of the bank’s stock valued at $446,000 after buying an additional 17,672 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of First Financial Northwest by 64.8% in the first quarter. JPMorgan Chase & Co. now owns 35,309 shares of the bank’s stock valued at $624,000 after buying an additional 13,882 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of First Financial Northwest by 1.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,635 shares of the bank’s stock valued at $188,000 after buying an additional 112 shares in the last quarter. Finally, Oxford Asset Management acquired a new stake in shares of First Financial Northwest during the first quarter valued at about $704,000. Hedge funds and other institutional investors own 43.64% of the company’s stock.
Shares of First Financial Northwest, Inc. (NASDAQ FFNW) remained flat at $16.00 during mid-day trading on Friday. 15,845 shares of the stock traded hands. First Financial Northwest, Inc. has a one year low of $13.10 and a one year high of $21.29. The company has a market capitalization of $165.81 million, a P/E ratio of 17.84 and a beta of 0.33. The stock’s 50 day moving average price is $16.48 and its 200 day moving average price is $17.50.
First Financial Northwest (NASDAQ:FFNW) last posted its quarterly earnings results on Wednesday, July 26th. The bank reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.04. The business had revenue of $9.73 million during the quarter, compared to analysts’ expectations of $9.75 million. First Financial Northwest had a return on equity of 6.85% and a net margin of 20.79%. Analysts predict that First Financial Northwest, Inc. will post $0.90 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, September 7th. First Financial Northwest’s dividend payout ratio is currently 30.77%.
First Financial Northwest declared that its board has authorized a stock buyback program on Monday, May 22nd that allows the company to repurchase 1,100,000 outstanding shares. This repurchase authorization allows the bank to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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Separately, Zacks Investment Research cut shares of First Financial Northwest from a “hold” rating to a “strong sell” rating in a research report on Friday, July 28th.
In other news, Director Gary F. Faull sold 18,340 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $15.95, for a total value of $292,523.00. Following the transaction, the director now directly owns 101,478 shares of the company’s stock, valued at $1,618,574.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joann E. Lee sold 6,619 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $16.12, for a total transaction of $106,698.28. Following the completion of the transaction, the director now directly owns 95,604 shares in the company, valued at $1,541,136.48. The disclosure for this sale can be found here. Company insiders own 7.31% of the company’s stock.
First Financial Northwest Company Profile
First Financial Northwest, Inc (First Financial Northwest) is a holding company for First Financial Northwest Bank (the Bank). The Bank primarily serves the greater Puget Sound region of King and to a lesser extent, Pierce, Snohomish and Kitsap Counties, Washington through its full-service banking office located in Renton, Washington and branch office in Mill Creek, Washington.
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