First Northwest Bancorp (NASDAQ:FNWB) Issues Earnings Results

First Northwest Bancorp (NASDAQ:FNWB) posted its earnings results on Wednesday. The financial services provider reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02, Zacks reports. First Northwest Bancorp had a return on equity of 3.14% and a net margin of 4.20%.The business had revenue of $16.18 million during the quarter, compared to analyst estimates of $16.95 million.

First Northwest Bancorp Stock Performance

Shares of FNWB opened at $12.01 on Thursday. The company has a market cap of $114.08 million, a PE ratio of 21.84 and a beta of 0.64. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.09. The stock has a 50-day moving average price of $10.79 and a 200-day moving average price of $10.10. First Northwest Bancorp has a 12-month low of $6.90 and a 12-month high of $12.52.

Analyst Upgrades and Downgrades

FNWB has been the subject of several recent analyst reports. Wall Street Zen raised shares of First Northwest Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.50.

Institutional Investors Weigh In On First Northwest Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of FNWB. Fourthstone LLC lifted its position in First Northwest Bancorp by 8.1% during the fourth quarter. Fourthstone LLC now owns 939,429 shares of the financial services provider’s stock valued at $8,812,000 after purchasing an additional 70,337 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of First Northwest Bancorp by 5.6% during the 4th quarter. Renaissance Technologies LLC now owns 295,105 shares of the financial services provider’s stock valued at $2,768,000 after buying an additional 15,600 shares in the last quarter. Pinnacle Holdings LLC lifted its holdings in shares of First Northwest Bancorp by 18.0% during the 4th quarter. Pinnacle Holdings LLC now owns 84,928 shares of the financial services provider’s stock worth $797,000 after acquiring an additional 12,928 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of First Northwest Bancorp by 13.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 44,608 shares of the financial services provider’s stock worth $418,000 after acquiring an additional 5,441 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in First Northwest Bancorp in the fourth quarter worth $199,000. 66.11% of the stock is owned by hedge funds and other institutional investors.

About First Northwest Bancorp

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.