First Northwest Bancorp (NASDAQ:FNWB) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of First Northwest Bancorp (NASDAQ:FNWB) from a hold rating to a sell rating in a report issued on Saturday,Wall Street Zen reports.

A number of other equities analysts have also weighed in on the company. Weiss Ratings lowered First Northwest Bancorp from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, September 3rd. Piper Sandler lifted their price target 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 equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.00.

First Northwest Bancorp Price Performance

Shares of NASDAQ:FNWB opened at $10.30 on Friday. The company has a market capitalization of $97.85 million, a PE ratio of 64.50 and a beta of 0.63. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average of $10.22 and a 200-day moving average of $10.23. First Northwest Bancorp has a one year low of $8.44 and a one year high of $12.52.

First Northwest Bancorp (NASDAQ:FNWB) last issued its 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). The company had revenue of $16.49 million during the quarter, compared to analyst estimates of $16.55 million. First Northwest Bancorp had a return on equity of 0.96% and a net margin of 1.32%. As a group, equities analysts anticipate that First Northwest Bancorp will post 0.06 EPS for the current fiscal year.

Insider Activity

In other First Northwest Bancorp news, Director Dana Behar sold 25,000 shares of First Northwest Bancorp 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 sale, 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. 4.14% of the stock is owned by company insiders.

Institutional Trading of First Northwest Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC acquired a new position in First Northwest Bancorp in the 2nd quarter worth about $260,000. Bank of America Corp DE purchased a new stake in shares of First Northwest Bancorp during the 2nd quarter worth about $533,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of First Northwest Bancorp during the 2nd quarter valued at about $345,000. Pinnacle Holdings LLC acquired a new stake in shares of First Northwest Bancorp during the 2nd quarter valued at about $863,000. Finally, BlackRock Inc. acquired a new stake in shares of First Northwest Bancorp during the 2nd quarter valued at about $1,394,000. 66.11% of the stock is currently owned by hedge funds and other institutional investors.

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.