BlackRock Inc. Purchases New Shares in First Northwest Bancorp $FNWB

Key Points

• BlackRock acquired 128,980 shares of First Northwest Bancorp in the second quarter, worth about $1.394 million and representing approximately 1.36% of the company. Institutional investors collectively own 66.11% of FNWB.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and a $15.00 target price. Piper Sandler raised its target to $15.00 and issued an overweight rating, while other analysts maintained or lowered hold ratings.
• First Northwest reported quarterly EPS of $0.03, beating estimates of $0.01, though revenue of $16.18 million fell short of the $16.95 million consensus. The stock opened at $11.00, versus a 52-week range of $6.90 to $12.52.

BlackRock Inc. acquired a new position in First Northwest Bancorp (NASDAQ:FNWB - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 128,980 shares of the financial services provider's stock, valued at approximately $1,394,000. BlackRock Inc. owned approximately 1.36% of First Northwest Bancorp as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its position 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 worth $197,000 after buying an additional 1,841 shares in the last quarter. Pinnacle Holdings LLC grew its holdings in shares of 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 grew its holdings in shares of First Northwest Bancorp by 5.6% in the fourth quarter. Renaissance Technologies LLC now owns 295,105 shares of the financial services provider's stock valued at $2,768,000 after acquiring an additional 15,600 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of First Northwest Bancorp during the fourth quarter valued at approximately $199,000. Finally, Fourthstone LLC increased its position in shares of First Northwest Bancorp by 8.1% during the fourth quarter. Fourthstone LLC now owns 939,429 shares of the financial services provider's stock valued at $8,812,000 after acquiring an additional 70,337 shares during the last quarter. Hedge funds and other institutional investors own 66.11% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wall Street Zen raised First Northwest Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings downgraded shares of First Northwest Bancorp from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday. Finally, Piper Sandler increased their price target on shares of First Northwest Bancorp from $13.50 to $15.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $15.00.

First Northwest Bancorp Stock Performance

Shares of FNWB opened at $11.00 on Monday. The firm has a market cap of $104.50 million, a PE ratio of 68.75 and a beta of 0.63. The stock's fifty day moving average price is $11.35 and its two-hundred day moving average price is $10.27. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.04 and a quick ratio of 1.04. First Northwest Bancorp has a 1 year low of $6.90 and a 1 year high of $12.52.

First Northwest Bancorp (NASDAQ:FNWB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. First Northwest Bancorp had a return on equity of 0.96% and a net margin of 1.32%.The firm had revenue of $16.18 million for the quarter, compared to analysts' expectations of $16.95 million. On average, equities research 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 stock in a transaction dated 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 transaction, the director owned 115,219 shares in the company, valued at $1,326,170.69. This trade represents a 17.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.14% of the company's stock.

First Northwest Bancorp Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source