First Northwest Bancorp (NASDAQ:FNWB) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded First Northwest Bancorp from “hold” to “sell,” while the broader analyst consensus remains “hold,” with one Buy and three Hold ratings and an average price target of $15.00.
• FNWB shares opened at $10.23, near their 50-day and 200-day moving averages. The company’s latest quarterly results missed expectations, reporting a loss of $0.08 per share versus the estimated $0.02 profit.
• Director Dana Behar sold 25,000 shares, reducing his position by 17.83%; institutional investors collectively own 66.11% of the company.

First Northwest Bancorp (NASDAQ:FNWB - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently commented on the stock. Piper Sandler lifted their target price on shares of First Northwest Bancorp from $13.50 to $15.00 and gave the stock an "overweight" rating in a research 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 report on Thursday, September 3rd. One research 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.com, First Northwest Bancorp currently has an average rating of "Hold" and an average target price of $15.00.

First Northwest Bancorp Stock Performance

Shares of FNWB stock opened at $10.23 on Friday. The business's 50-day moving average price is $10.24 and its 200-day moving average price is $10.23. First Northwest Bancorp has a 12 month low of $8.44 and a 12 month high of $12.52. The firm has a market capitalization of $97.19 million, a price-to-earnings ratio of 93.73 and a beta of 0.63. 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 (NASDAQ:FNWB - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The financial services provider reported ($0.08) earnings per share 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 the consensus estimate of $16.55 million. Equities research analysts forecast that First Northwest Bancorp will post 0.06 EPS for the current year.

Insider Transactions at First Northwest Bancorp

In related news, Director Dana Behar sold 25,000 shares of the firm'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 completion of the transaction, the director directly owned 115,219 shares of the company's stock, valued at $1,326,170.69. This trade represents a 17.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Northwest Bancorp

A number of institutional investors have recently made changes to their positions in FNWB. Renaissance Technologies LLC lifted its stake in shares of First Northwest Bancorp by 14.6% in the first quarter. Renaissance Technologies LLC now owns 338,305 shares of the financial services provider's stock worth $2,936,000 after acquiring an additional 43,200 shares during the period. BlackRock Inc. bought a new stake in First Northwest Bancorp in the second quarter valued at approximately $1,394,000. Pinnacle Holdings LLC bought a new stake in First Northwest Bancorp in the second quarter valued at approximately $863,000. Arcus Capital Partners LLC boosted its holdings in First Northwest Bancorp by 115.5% in the first quarter. Arcus Capital Partners LLC now owns 56,987 shares of the financial services provider's stock valued at $495,000 after acquiring an additional 30,543 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in First Northwest Bancorp during the 2nd quarter valued at approximately $533,000. Institutional investors own 66.11% of the company's stock.

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.

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