First Northwest Bancorp (NASDAQ:FNWB) Sees Significant Decline in Short Interest

First Northwest Bancorp (NASDAQ:FNWB) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 9,600 shares, a decrease of 37.7% from the October 15th total of 15,400 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 25,800 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their target price on First Northwest Bancorp from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Monday, October 28th.

Institutional Trading of First Northwest Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FNWB. Empowered Funds LLC boosted its position in shares of First Northwest Bancorp by 7.5% during the first quarter. Empowered Funds LLC now owns 15,052 shares of the financial services provider’s stock valued at $236,000 after buying an additional 1,050 shares during the period. O Shaughnessy Asset Management LLC grew its position in First Northwest Bancorp by 57.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,183 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 5,915 shares during the last quarter. Finally, Pure Portfolios Holdings LLC purchased a new stake in First Northwest Bancorp in the third quarter worth $353,000. 66.11% of the stock is owned by hedge funds and other institutional investors.

First Northwest Bancorp Stock Performance

Shares of NASDAQ:FNWB opened at $10.51 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.90. First Northwest Bancorp has a 52 week low of $8.91 and a 52 week high of $16.12. The firm has a fifty day simple moving average of $10.52 and a two-hundred day simple moving average of $10.37. The stock has a market capitalization of $99.21 million, a P/E ratio of -16.17 and a beta of 0.90.

First Northwest Bancorp (NASDAQ:FNWB) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.33). The company had revenue of $29.99 million for the quarter, compared to analysts’ expectations of $17.20 million. First Northwest Bancorp had a negative net margin of 4.79% and a negative return on equity of 0.18%. On average, analysts expect that First Northwest Bancorp will post -0.8 earnings per share for the current fiscal year.

First Northwest Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.66%. First Northwest Bancorp’s dividend payout ratio is presently -43.08%.

First Northwest Bancorp Company Profile

First Northwest Bancorp operates as a bank holding company for First Fed Bank that provides commercial and consumer banking services to individuals, businesses, and nonprofit organizations in western Washington, the United States. The company accepts various deposit instruments, including checking, money market deposit, savings, and transaction accounts, as well as certificates of deposit.