First Northwest Bancorp (NASDAQ:FNWB) Sees Large Increase in Short Interest

First Northwest Bancorp (NASDAQ:FNWB) was the target of a large growth in short interest in 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 trading volume, of 22,001 shares, the short-interest ratio is presently 3.3 days. Currently, 0.8% of the company’s stock are sold short.

First Northwest Bancorp Stock Down 1.0%

First Northwest Bancorp stock traded down $0.11 during midday trading on Monday, reaching $11.40. The company’s stock had a trading volume of 23,177 shares, compared to its average volume of 36,358. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $108.29 million, a P/E ratio of 71.25 and a beta of 0.63. The stock’s 50-day simple moving average is $11.11 and its 200-day simple moving average is $10.19. First Northwest Bancorp has a 52-week low of $6.90 and a 52-week high of $12.52.

First Northwest Bancorp (NASDAQ:FNWB) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $16.18 million for the quarter, compared to analyst estimates of $16.95 million. First Northwest Bancorp had a return on equity of 0.96% and a net margin of 1.32%. On average, sell-side analysts expect that First Northwest Bancorp will post 0.06 EPS for the current year.

Institutional Investors Weigh In On First Northwest Bancorp

Several hedge funds have recently bought and sold shares of FNWB. Empowered Funds LLC lifted its position in shares of First Northwest Bancorp by 9.6% during the 4th quarter. Empowered Funds LLC now owns 20,971 shares of the financial services provider’s stock valued at $197,000 after buying an additional 1,841 shares in the last quarter. Jane Street Group LLC purchased a new position in First Northwest Bancorp in the 4th quarter worth approximately $199,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in First Northwest Bancorp during the second quarter worth $345,000. Bridgeway Capital Management LLC grew its holdings in shares of First Northwest Bancorp by 13.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 44,608 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 5,441 shares during the period. Finally, Arcus Capital Partners LLC grew its stake in shares of First Northwest Bancorp by 115.5% in the 1st quarter. Arcus Capital Partners LLC now owns 56,987 shares of the financial services provider’s stock valued at $495,000 after buying an additional 30,543 shares during the period. Hedge funds and other institutional investors own 66.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on FNWB shares. Piper Sandler boosted their price objective on shares of First Northwest Bancorp from $13.50 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Wall Street Zen raised shares of First Northwest Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings raised shares of First Northwest Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 1st. One equities research 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 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.