First Northwest Bancorp (NASDAQ:FNWB) Stock Dropped to Sell by Wall Street Zen

Wall Street Zen downgraded shares of First Northwest Bancorp (NASDAQ:FNWB) from a hold rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

Other analysts also recently issued research reports about the stock. Piper Sandler raised their price target on shares of First Northwest Bancorp from $13.50 to $15.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Weiss Ratings lowered shares of First Northwest Bancorp from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.00.

First Northwest Bancorp Trading Down 0.8%

Shares of FNWB opened at $10.23 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.98. First Northwest Bancorp has a 12-month low of $8.44 and a 12-month high of $12.52. The firm has a 50-day moving average price of $10.24 and a 200 day moving average price of $10.23. The firm has a market capitalization of $97.19 million, a P/E ratio of -1,023.00 and a beta of 0.63.

First Northwest Bancorp (NASDAQ:FNWB) last released its quarterly earnings data on Thursday, October 29th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.10). First Northwest Bancorp had a positive return on equity of 0.62% and a negative net margin of 0.04%. The firm had revenue of $16.49 million for the quarter, compared to analyst estimates of $16.55 million. Sell-side analysts forecast that First Northwest Bancorp will post 0.06 EPS for the current year.

Insider Transactions at First Northwest Bancorp

In other First Northwest Bancorp news, Director Dana Behar sold 25,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $11.51, for a total transaction of $287,750.00. Following the transaction, the director directly owned 115,219 shares in the company, valued at $1,326,170.69. This represents a 17.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of First Northwest Bancorp in the second quarter valued at approximately $1,394,000. Pinnacle Holdings LLC acquired a new stake in First Northwest Bancorp during the 2nd quarter worth approximately $863,000. Bank of America Corp DE purchased a new position in First Northwest Bancorp in the 2nd quarter valued at approximately $533,000. Renaissance Technologies LLC boosted its position in First Northwest Bancorp by 14.6% in the 1st quarter. Renaissance Technologies LLC now owns 338,305 shares of the financial services provider’s stock valued at $2,936,000 after buying an additional 43,200 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in First Northwest Bancorp in the 2nd quarter valued at approximately $345,000. 66.11% of the stock is currently owned by hedge funds and other institutional investors.

First Northwest Bancorp Company Profile

First Northwest Bancorp is the bank holding company for First Fed Bank, a community-focused financial institution headquartered in Port Angeles, Washington. First Fed Bank provides banking services to individuals, families, businesses and nonprofit organizations in communities across the Olympic Peninsula and the broader Puget Sound region.

The bank offers deposit products such as checking and savings accounts, certificates of deposit and business accounts. Its lending activities include residential mortgages, home-equity loans, consumer loans and commercial financing for businesses and real estate projects.