First Northwest Bancorp (NASDAQ:FNWB) Stock Bumped Up to “Strong-Buy” by Zacks Research

Zacks Research upgraded shares of First Northwest Bancorp (NASDAQ:FNWB) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks reports.

A number of other research analysts also recently commented on the stock. Piper Sandler reduced their price objective on shares of First Northwest Bancorp from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday. Weiss Ratings lowered shares of First Northwest Bancorp from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, September 3rd. Finally, Wall Street Zen downgraded shares of First Northwest Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, First Northwest Bancorp presently has an average rating of “Moderate Buy” and an average target price of $14.00.

First Northwest Bancorp Price Performance

FNWB stock opened at $10.25 on Monday. The stock’s 50 day moving average is $10.21 and its two-hundred day moving average is $10.24. First Northwest Bancorp has a 52-week low of $8.44 and a 52-week high of $12.52. The company has a market capitalization of $97.38 million, a PE ratio of -1,025.00 and a beta of 0.62. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.98.

First Northwest Bancorp (NASDAQ:FNWB) last released its earnings results on Thursday, October 29th. The financial services provider reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.10). First Northwest Bancorp had a negative net margin of 0.04% and a positive return on equity of 0.62%. The business had revenue of $16.49 million for the quarter, compared to analysts’ expectations of $16.55 million. Analysts predict that First Northwest Bancorp will post 0.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Northwest Bancorp news, Director Dana Behar sold 25,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $11.51, for a total transaction of $287,750.00. Following the transaction, the director owned 115,219 shares of the company’s stock, valued at $1,326,170.69. This trade represents a 17.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Northwest Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in First Northwest Bancorp by 8.7% in the first quarter. Empowered Funds LLC now owns 22,793 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 1,822 shares during the period. Arcus Capital Partners LLC increased its stake in First Northwest Bancorp by 115.5% during the first quarter. Arcus Capital Partners LLC now owns 56,987 shares of the financial services provider’s stock valued at $495,000 after purchasing an additional 30,543 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of First Northwest Bancorp during the second quarter worth $345,000. Renaissance Technologies LLC raised its holdings in shares of First Northwest Bancorp by 14.6% during the first quarter. Renaissance Technologies LLC now owns 338,305 shares of the financial services provider’s stock worth $2,936,000 after purchasing an additional 43,200 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of First Northwest Bancorp in the 2nd quarter worth about $533,000. 66.11% of the stock is owned by institutional investors and hedge funds.

First Northwest Bancorp Company Profile

First Northwest Bancorp is the bank holding company for First Fed Bank, a community-focused financial institution headquartered in Port Angeles, Washington. First Fed Bank provides banking services to individuals, families, businesses and nonprofit organizations in communities across the Olympic Peninsula and the broader Puget Sound region.

The bank offers deposit products such as checking and savings accounts, certificates of deposit and business accounts. Its lending activities include residential mortgages, home-equity loans, consumer loans and commercial financing for businesses and real estate projects.