Zacks Research Upgrades First Northwest Bancorp (NASDAQ:FNWB) to Strong-Buy

First Northwest Bancorp (NASDAQ:FNWB) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

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

First Northwest Bancorp Trading Down 0.5%

First Northwest Bancorp stock opened at $10.25 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.98. The stock’s 50 day simple moving average is $10.21 and its two-hundred day simple moving average is $10.24. First Northwest Bancorp has a 12 month low of $8.44 and a 12 month high of $12.52. The firm has a market cap of $97.38 million, a PE ratio of -1,025.00 and a beta of 0.62.

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

Insider Buying and Selling

In other First Northwest Bancorp news, Director Dana Behar sold 25,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $11.51, for a total transaction of $287,750.00. Following the completion of the transaction, the director directly owned 115,219 shares in the company, valued at approximately $1,326,170.69. This represents a 17.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.14% of the company’s stock.

Institutional Trading of First Northwest Bancorp

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in shares of First Northwest Bancorp by 14.6% during the 1st 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 last quarter. BlackRock Inc. purchased a new position in First Northwest Bancorp in the 2nd quarter valued at about $1,394,000. Pinnacle Holdings LLC acquired a new stake in First Northwest Bancorp in the 2nd quarter worth about $863,000. Bank of America Corp DE acquired a new stake in First Northwest Bancorp in the 2nd quarter worth about $533,000. Finally, Arcus Capital Partners LLC boosted its holdings in First Northwest Bancorp by 115.5% in the 1st quarter. Arcus Capital Partners LLC now owns 56,987 shares of the financial services provider’s stock worth $495,000 after buying an additional 30,543 shares during the last quarter. Institutional investors and hedge funds own 66.11% of the company’s stock.

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.