First Northwest Bancorp (NASDAQ:FNWB) Short Interest Up 84.7% in July

First Northwest Bancorp (NASDAQ:FNWB) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 71,918 shares, a growth of 84.7% from the July 15th total of 38,935 shares. Based on an average daily volume of 22,001 shares, the days-to-cover ratio is currently 3.3 days. Currently, 0.8% of the company’s stock are short sold.

First Northwest Bancorp Trading Up 0.7%

NASDAQ:FNWB opened at $11.59 on Tuesday. 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 12 month low of $6.90 and a 12 month high of $12.52. The company has a market cap of $110.11 million, a PE ratio of 72.45 and a beta of 0.63. The company has a 50 day simple moving average of $11.13 and a two-hundred day simple moving average of $10.20.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Empowered Funds LLC purchased a new position in First Northwest Bancorp in the second quarter worth about $260,000. Bank of America Corp DE purchased a new stake in shares of First Northwest Bancorp during the 2nd quarter valued at about $533,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of First Northwest Bancorp in the 2nd quarter worth approximately $345,000. Pinnacle Holdings LLC bought a new position in shares of First Northwest Bancorp in the 2nd quarter worth approximately $863,000. Finally, BlackRock Inc. bought a new position in shares of First Northwest Bancorp in the 2nd quarter worth approximately $1,394,000. Institutional investors own 66.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FNWB shares. Piper Sandler increased their price objective on First Northwest Bancorp from $13.50 to $15.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Wall Street Zen raised First Northwest Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings upgraded shares of First Northwest Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, First Northwest Bancorp presently has an average rating of “Hold” and a consensus price target of $15.00.

First Northwest Bancorp Company Profile

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.