First Northwest Bancorp (NASDAQ:FNWB) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

First Northwest Bancorp (NASDAQ:FNWB) announced its earnings results on Wednesday. The financial services provider reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02, Zacks reports. First Northwest Bancorp had a net margin of 1.32% and a return on equity of 0.96%. The firm had revenue of $16.18 million for the quarter, compared to analyst estimates of $16.95 million.

First Northwest Bancorp Trading Down 0.7%

First Northwest Bancorp stock opened at $11.73 on Friday. First Northwest Bancorp has a 12 month low of $6.90 and a 12 month high of $12.52. The company has a market capitalization of $111.40 million, a price-to-earnings ratio of 73.59 and a beta of 0.64. The business’s fifty day simple moving average is $10.83 and its two-hundred day simple moving average is $10.11. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.09.

Hedge Funds Weigh In On First Northwest Bancorp

Several large investors have recently modified their holdings of the stock. Empowered Funds LLC grew its position in First Northwest Bancorp by 9.6% during the 4th quarter. Empowered Funds LLC now owns 20,971 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 1,841 shares during the last quarter. Jane Street Group LLC purchased a new position in First Northwest Bancorp in the fourth quarter worth about $199,000. Bridgeway Capital Management LLC lifted its stake in shares of First Northwest Bancorp by 13.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 44,608 shares of the financial services provider’s stock worth $418,000 after buying an additional 5,441 shares in the last quarter. Pinnacle Holdings LLC lifted its stake in shares of First Northwest Bancorp by 18.0% in the fourth quarter. Pinnacle Holdings LLC now owns 84,928 shares of the financial services provider’s stock worth $797,000 after buying an additional 12,928 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of First Northwest Bancorp by 5.6% during the fourth quarter. Renaissance Technologies LLC now owns 295,105 shares of the financial services provider’s stock valued at $2,768,000 after buying an additional 15,600 shares during the last quarter. Hedge funds and other institutional investors own 66.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen upgraded shares of First Northwest Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. Weiss Ratings raised First Northwest Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 1st. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of First Northwest Bancorp in a research report on Friday. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.50.

About First Northwest Bancorp

First Northwest Bancorp is a bank holding company headquartered in Mountlake Terrace, Washington. Through its wholly owned subsidiary, First Northwest Bank, the company delivers a full spectrum of community banking services to individuals, families, and small to mid-sized businesses. Its operations are rooted in local decision-making and personalized client relationships, reflecting a community-oriented banking model.

On the retail side, First Northwest Bank offers a range of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.