First Financial Northwest (FFNW) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of First Financial Northwest (NASDAQ:FFNW) from a sell rating to a buy rating in a research report released on Monday morning. They currently have $18.00 price objective on the bank’s stock.
According to Zacks, “FIRST FINANCIAL NORTHWEST, INC. is a Washington corporation headquartered in Renton, Washington. It is the parent company of First Savings Bank Northwest; a Washington chartered stock savings bank that was originally organized in 1923. The Company serves the Puget Sound Region of Washington that includes King, Snohomish and Pierce Counties, through its full-service banking office. The Company is part of the America’s Community Bankers NASDAQ Index. “
Separately, Keefe, Bruyette & Woods reiterated a hold rating and issued a $19.00 price target on shares of First Financial Northwest in a research report on Friday, December 22nd.
Shares of First Financial Northwest (NASDAQ:FFNW) traded up $0.39 during midday trading on Monday, hitting $16.91. 5,791 shares of the company were exchanged, compared to its average volume of 14,522. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.36. First Financial Northwest has a fifty-two week low of $14.83 and a fifty-two week high of $21.29. The company has a market capitalization of $171.22, a PE ratio of 19.66, a P/E/G ratio of 1.53 and a beta of 0.32.
First Financial Northwest (NASDAQ:FFNW) last issued its quarterly earnings results on Thursday, October 26th. The bank reported $0.18 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.05). First Financial Northwest had a return on equity of 6.45% and a net margin of 18.74%. The business had revenue of $10.11 million during the quarter, compared to the consensus estimate of $10.15 million. analysts expect that First Financial Northwest will post 0.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.66%. The ex-dividend date was Thursday, November 30th. First Financial Northwest’s dividend payout ratio (DPR) is presently 32.56%.
A number of institutional investors have recently modified their holdings of FFNW. The Manufacturers Life Insurance Company raised its position in First Financial Northwest by 40.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,988 shares of the bank’s stock worth $146,000 after acquiring an additional 2,611 shares in the last quarter. SG Americas Securities LLC bought a new stake in First Financial Northwest in the third quarter worth about $181,000. Alpine Woods Capital Investors LLC bought a new stake in First Financial Northwest in the third quarter worth about $204,000. Teachers Advisors LLC raised its position in First Financial Northwest by 8.9% in the second quarter. Teachers Advisors LLC now owns 15,244 shares of the bank’s stock worth $246,000 after acquiring an additional 1,240 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in First Financial Northwest by 35.9% in the third quarter. Wells Fargo & Company MN now owns 16,885 shares of the bank’s stock worth $288,000 after acquiring an additional 4,463 shares in the last quarter. Hedge funds and other institutional investors own 42.49% of the company’s stock.
About First Financial Northwest
First Financial Northwest, Inc (First Financial Northwest) is a holding company for First Financial Northwest Bank (the Bank). The Bank primarily serves the greater Puget Sound region of King and to a lesser extent, Pierce, Snohomish and Kitsap Counties, Washington through its full-service banking office located in Renton, Washington and branch office in Mill Creek, Washington.
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