First Northwest Bancorp (NASDAQ:FNWB) Upgraded to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded First Northwest Bancorp from “hold” to “strong buy.” Other analysts remain mixed, and the stock’s consensus rating is “Moderate Buy” with a $14 average price target.
• Shares opened at $10.25 and were down 0.5%. The company reported a quarterly loss of $0.08 per share, missing the $0.02-per-share consensus estimate; revenue was also slightly below expectations.
• A company director sold 25,000 shares in August, reducing his stake by 17.83%. Institutional investors own 66.11% of the stock.

First Northwest Bancorp (NASDAQ:FNWB - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other brokerages have also recently commented on FNWB. Weiss Ratings cut First Northwest Bancorp from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, September 3rd. Wall Street Zen downgraded shares of First Northwest Bancorp from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Piper Sandler dropped their price objective on shares of First Northwest Bancorp from $15.00 to $14.00 and set an "overweight" rating for the company in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, First Northwest Bancorp currently has an average rating of "Moderate Buy" and an average price target of $14.00.

First Northwest Bancorp Stock Down 0.5%

FNWB opened at $10.25 on Monday. 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 1-year low of $8.44 and a 1-year high of $12.52. The company has a market capitalization of $97.38 million, a PE ratio of 93.64 and a beta of 0.62. The firm's 50 day simple moving average is $10.21 and its two-hundred day simple moving average is $10.24.

First Northwest Bancorp (NASDAQ:FNWB - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.10). First Northwest Bancorp had a negative net margin of 0.04% and a positive return on equity of 0.62%. The business had revenue of $16.49 million for the quarter, compared to the consensus estimate of $16.55 million. As a group, equities analysts forecast that First Northwest Bancorp will post 0.07 EPS for the current year.

Insider Buying and Selling

In related news, Director Dana Behar sold 25,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $11.51, for a total value of $287,750.00. Following the sale, the director directly owned 115,219 shares of the company's stock, valued at $1,326,170.69. This represents a 17.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.14% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FNWB. Empowered Funds LLC boosted its holdings in First Northwest Bancorp by 8.7% during the 1st quarter. Empowered Funds LLC now owns 22,793 shares of the financial services provider's stock valued at $198,000 after acquiring an additional 1,822 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in First Northwest Bancorp in the 2nd quarter valued at $345,000. Bank of America Corp DE purchased a new stake in First Northwest Bancorp in the second quarter worth $533,000. Arcus Capital Partners LLC increased its stake 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 worth $495,000 after purchasing an additional 30,543 shares during the period. Finally, Pinnacle Holdings LLC bought a new stake in shares of First Northwest Bancorp during the second quarter worth $863,000. Institutional investors own 66.11% of the company's stock.

About First Northwest Bancorp

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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