First Northwest Bancorp (NASDAQ:FNWB) Posts Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Key Points

• First Northwest Bancorp reported a quarterly loss of $0.08 per share, missing analyst expectations of $0.02 by $0.10. Revenue totaled $16.49 million, slightly below the $16.55 million consensus estimate.
• FNWB shares traded at $10.38, near their 50-day and 200-day moving averages, with a market capitalization of approximately $98.6 million. The stock’s 52-week range is $8.44 to $12.52.
• Analysts maintain a consensus “Hold” rating with a $15.00 price target, while a company director recently sold 25,000 shares for about $287,750.

First Northwest Bancorp (NASDAQ:FNWB - Get Free Report) announced its earnings results on Thursday. The financial services provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.10), FiscalAI reports. The business had revenue of $16.49 million for the quarter, compared to analyst estimates of $16.55 million. First Northwest Bancorp had a return on equity of 0.96% and a net margin of 1.32%.

First Northwest Bancorp Price Performance

FNWB stock traded up $0.06 during midday trading on Thursday, reaching $10.38. The stock had a trading volume of 20,010 shares, compared to its average volume of 34,704. The company's fifty day simple moving average is $10.27 and its 200 day simple moving average is $10.23. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.98. The company has a market cap of $98.61 million, a price-to-earnings ratio of 64.89 and a beta of 0.63. First Northwest Bancorp has a 52-week low of $8.44 and a 52-week high of $12.52.

Analyst Ratings Changes

Several equities analysts have issued reports on FNWB shares. Weiss Ratings downgraded shares of First Northwest Bancorp from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, September 3rd. Wall Street Zen raised shares of First Northwest Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, Piper Sandler upped their price target 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. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, First Northwest Bancorp has an average rating of "Hold" and a consensus price target of $15.00.

Insider Transactions at First Northwest Bancorp

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

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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