First Northwest Bancorp (NASDAQ:FNWB) Shares Shorted: Short Interest Down 45.1% in September

First Northwest Bancorp (NASDAQ:FNWB) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 40,272 shares, a decrease of 45.1% from the August 31st total of 73,358 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 31,120 shares, the short-interest ratio is presently 1.3 days.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FNWB shares. Weiss Ratings downgraded shares of First Northwest Bancorp from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, September 3rd. Wall Street Zen raised First Northwest Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Piper Sandler upped their price objective on First Northwest Bancorp from $13.50 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.00.

Insiders Place Their Bets

In other First Northwest Bancorp news, Director Dana Behar sold 25,000 shares of the company’s 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 completion of the transaction, the director owned 115,219 shares of the company’s stock, valued at $1,326,170.69. This represents a 17.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Northwest Bancorp

Several large investors have recently modified their holdings of the stock. Empowered Funds LLC lifted its stake in shares of First Northwest Bancorp by 8.7% during the 1st quarter. Empowered Funds LLC now owns 22,793 shares of the financial services provider’s stock worth $198,000 after buying an additional 1,822 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in First Northwest Bancorp in the 2nd quarter valued at about $345,000. Arcus Capital Partners LLC grew its stake 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 valued at $495,000 after buying an additional 30,543 shares during the last quarter. Bank of America Corp DE acquired a new stake in First Northwest Bancorp during the second quarter worth approximately $533,000. Finally, Pinnacle Holdings LLC acquired a new stake in First Northwest Bancorp during the second quarter worth approximately $863,000. 66.11% of the stock is owned by institutional investors.

First Northwest Bancorp Stock Performance

Shares of FNWB remained flat at $10.01 during mid-day trading on Wednesday. The stock had a trading volume of 24,351 shares, compared to its average volume of 29,007. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.98. First Northwest Bancorp has a 52 week low of $7.65 and a 52 week high of $12.52. The business’s fifty day moving average price is $10.94 and its 200-day moving average price is $10.36. The stock has a market cap of $95.09 million, a PE ratio of 62.57 and a beta of 0.63.

First Northwest Bancorp (NASDAQ:FNWB) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. First Northwest Bancorp had a return on equity of 0.96% and a net margin of 1.32%.The business had revenue of $16.18 million for the quarter, compared to analyst estimates of $16.95 million. Research analysts anticipate that First Northwest Bancorp will post 0.06 EPS for the current year.

First Northwest Bancorp Company Profile

First Northwest Bancorp is the bank holding company for First Fed Bank, a community bank headquartered in Port Angeles, Washington. Through its subsidiary, the company provides banking and financial services to individuals, families, small businesses and commercial customers in communities across the Pacific Northwest.

First Fed Bank offers deposit products such as checking, savings, money market and certificate accounts, along with residential mortgage, home equity, commercial real estate, business and consumer lending.