First Financial Northwest (NASDAQ:FFNW) Downgraded to Sell Rating by StockNews.com

First Financial Northwest (NASDAQ:FFNW) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Separately, Piper Sandler lowered shares of First Financial Northwest from an “overweight” rating to a “neutral” rating and set a $23.50 price objective on the stock. in a research note on Friday, July 26th.

First Financial Northwest Trading Up 0.2 %

FFNW opened at $22.70 on Tuesday. The firm has a market cap of $208.25 million, a price-to-earnings ratio of 68.79 and a beta of 0.53. First Financial Northwest has a 52 week low of $10.78 and a 52 week high of $23.50. The business’s 50 day moving average is $22.61 and its two-hundred day moving average is $21.67. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.10.

First Financial Northwest (NASDAQ:FFNW) last announced its earnings results on Tuesday, October 29th. The bank reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.14). The business had revenue of $20.09 million for the quarter, compared to analysts’ expectations of $9.49 million. First Financial Northwest had a return on equity of 1.98% and a net margin of 3.89%. During the same quarter last year, the business posted $0.16 earnings per share. On average, research analysts predict that First Financial Northwest will post 0.23 EPS for the current year.

Institutional Investors Weigh In On First Financial Northwest

Several large investors have recently modified their holdings of FFNW. Vanguard Group Inc. grew its position in First Financial Northwest by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 368,446 shares of the bank’s stock valued at $7,575,000 after buying an additional 21,447 shares during the last quarter. Black Maple Capital Management LP increased its stake in shares of First Financial Northwest by 45.8% during the first quarter. Black Maple Capital Management LP now owns 141,677 shares of the bank’s stock worth $2,913,000 after acquiring an additional 44,494 shares during the period. Clear Harbor Asset Management LLC purchased a new position in First Financial Northwest during the second quarter worth about $411,000. Bank of New York Mellon Corp lifted its position in First Financial Northwest by 45.2% in the second quarter. Bank of New York Mellon Corp now owns 63,223 shares of the bank’s stock valued at $1,336,000 after purchasing an additional 19,670 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in First Financial Northwest by 9.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 11,986 shares of the bank’s stock valued at $253,000 after purchasing an additional 1,069 shares in the last quarter. Hedge funds and other institutional investors own 55.00% of the company’s stock.

About First Financial Northwest

First Financial Northwest, Inc operates as the bank holding company for First Financial Northwest Bank that provides commercial banking services in Washington. The company offers a range of deposit products, including noninterest-bearing accounts, interest-bearing demand accounts, money market accounts, savings accounts, and certificates of deposit.