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

StockNews.com cut shares of First Financial Northwest (NASDAQ:FFNW) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

Separately, Piper Sandler cut shares of First Financial Northwest from an “overweight” rating to a “neutral” rating and set a $23.50 target price for the company. in a report on Friday, July 26th.

First Financial Northwest Stock Performance

Shares of First Financial Northwest stock opened at $22.66 on Tuesday. The company has a 50 day moving average of $22.60 and a 200-day moving average of $21.66. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.10. First Financial Northwest has a 1-year low of $10.78 and a 1-year high of $23.50. The company has a market cap of $207.88 million, a PE ratio of 68.67 and a beta of 0.53.

Institutional Investors Weigh In On First Financial Northwest

Hedge funds have recently added to or reduced their stakes in the business. Black Maple Capital Management LP lifted its holdings in First Financial Northwest by 45.8% during the 1st quarter. Black Maple Capital Management LP now owns 141,677 shares of the bank’s stock worth $2,913,000 after buying an additional 44,494 shares during the period. Vanguard Group Inc. lifted its stake in shares of 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 purchasing an additional 21,447 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of First Financial Northwest by 45.2% in the 2nd 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. Clear Harbor Asset Management LLC bought a new position in shares of First Financial Northwest during the 2nd quarter worth approximately $411,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in shares of First Financial Northwest during the 2nd quarter worth approximately $403,000. 55.00% of the stock is currently owned by institutional investors and hedge funds.

First Financial Northwest Company Profile

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.