First Northwest Bancorp (NASDAQ:FNWB) Shares Cross Above 50 Day Moving Average – Here’s Why

First Northwest Bancorp (NASDAQ:FNWB) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $11.30 and traded as high as $11.36. First Northwest Bancorp shares last traded at $11.26, with a volume of 9,897 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FNWB. Weiss Ratings raised First Northwest Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Piper Sandler increased their price target on First Northwest Bancorp from $13.50 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, Wall Street Zen raised shares of First Northwest Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, First Northwest Bancorp presently has an average rating of “Hold” and a consensus target price of $15.00.

First Northwest Bancorp Stock Performance

The stock has a market capitalization of $105.18 million, a price-to-earnings ratio of 69.20 and a beta of 0.63. The company has a 50 day simple moving average of $11.31 and a 200-day simple moving average of $10.25. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.98.

First Northwest Bancorp (NASDAQ:FNWB) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $16.18 million during the quarter, compared to the consensus estimate of $16.95 million. First Northwest Bancorp had a net margin of 1.32% and a return on equity of 0.96%. As a group, equities research analysts expect that First Northwest Bancorp will post 0.06 EPS for the current fiscal year.

Insider Activity

In related news, Director Dana D. Behar sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $11.51, for a total transaction of $287,750.00. Following the sale, the director directly owned 115,219 shares in the company, valued at approximately $1,326,170.69. This represents a 17.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Northwest Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its holdings 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. Pinnacle Holdings LLC boosted its holdings in First Northwest Bancorp by 18.0% in the fourth quarter. Pinnacle Holdings LLC now owns 84,928 shares of the financial services provider’s stock valued at $797,000 after acquiring an additional 12,928 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of First Northwest Bancorp by 5.6% during the fourth 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 during the period. Jane Street Group LLC bought a new position in shares of First Northwest Bancorp in the 4th quarter worth approximately $199,000. Finally, Fourthstone LLC raised its holdings in First Northwest Bancorp by 8.1% in the fourth quarter. Fourthstone LLC now owns 939,429 shares of the financial services provider’s stock worth $8,812,000 after purchasing an additional 70,337 shares in the last quarter. 66.11% of the stock is currently 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.