First Northwest Bancorp (NASDAQ:FNWB) Now Covered by Analysts at Hovde Group

Hovde Group assumed coverage on shares of First Northwest Bancorp (NASDAQ:FNWB) in a research note issued to investors on Monday morning. The brokerage issued an outperform rating and a $13.50 target price on the financial services provider’s stock.

Separately, Piper Sandler reduced their price objective on First Northwest Bancorp from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Monday, October 28th.

First Northwest Bancorp Stock Up 1.3 %

Shares of First Northwest Bancorp stock opened at $10.11 on Monday. First Northwest Bancorp has a 12-month low of $8.91 and a 12-month high of $16.00. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $94.64 million, a P/E ratio of -15.55 and a beta of 0.94. The stock has a 50 day moving average price of $10.55 and a two-hundred day moving average price of $10.44.

First Northwest Bancorp (NASDAQ:FNWB) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.33). First Northwest Bancorp had a negative net margin of 4.79% and a negative return on equity of 0.18%. The business had revenue of $29.99 million during the quarter, compared to the consensus estimate of $17.20 million. Equities analysts expect that First Northwest Bancorp will post -0.8 earnings per share for the current year.

First Northwest Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.07 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.77%. First Northwest Bancorp’s payout ratio is -43.08%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FNWB. Barclays PLC raised its stake in shares of First Northwest Bancorp by 60.5% in the third quarter. Barclays PLC now owns 6,815 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 2,568 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of First Northwest Bancorp in the fourth quarter valued at $277,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of First Northwest Bancorp in the third quarter valued at $350,000. Pure Portfolios Holdings LLC acquired a new position in shares of First Northwest Bancorp in the third quarter valued at $353,000. Finally, Fourthstone LLC raised its stake in shares of First Northwest Bancorp by 0.3% in the third quarter. Fourthstone LLC now owns 941,768 shares of the financial services provider’s stock valued at $10,077,000 after purchasing an additional 3,239 shares in the last quarter. 66.11% of the stock is currently owned by institutional investors and hedge funds.

First Northwest Bancorp Company Profile

First Northwest Bancorp operates as a bank holding company for First Fed Bank that provides commercial and consumer banking services to individuals, businesses, and nonprofit organizations in western Washington, the United States. The company accepts various deposit instruments, including checking, money market deposit, savings, and transaction accounts, as well as certificates of deposit.