First Northwest Bancorp (NASDAQ:FNWB) Short Interest Up 84.7% in July

Key Points

• Short interest in First Northwest Bancorp surged 84.7% to 71,918 shares as of July 31, representing 0.8% of shares outstanding and 3.3 days to cover.
• Analysts remain generally neutral, with an average “Hold” rating and a $15.00 price target; Piper Sandler raised its target from $13.50 and assigned an “Overweight” rating.
• FNWB shares rose 1.3% to $11.51, while quarterly EPS of $0.03 exceeded estimates of $0.01. Institutional investors and hedge funds own 66.11% of the company.

First Northwest Bancorp (NASDAQ:FNWB - Get Free Report) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 71,918 shares, a growth of 84.7% from the July 15th total of 38,935 shares. Based on an average daily volume of 22,001 shares, the days-to-cover ratio is presently 3.3 days. Currently, 0.8% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FNWB shares. Wall Street Zen upgraded First Northwest Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday. 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 note on Friday, July 31st. Finally, Weiss Ratings raised shares of First Northwest Bancorp from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 1st. 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 stock presently has an average rating of "Hold" and an average price target of $15.00.

First Northwest Bancorp Stock Up 1.3%

Shares of NASDAQ FNWB traded up $0.15 during mid-day trading on Friday, hitting $11.51. 58,932 shares of the stock traded hands, compared to its average volume of 21,735. First Northwest Bancorp has a 52 week low of $6.90 and a 52 week high of $12.52. The company has a market cap of $109.34 million, a price-to-earnings ratio of 71.94 and a beta of 0.63. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.06 and a current ratio of 1.04. The stock has a fifty day moving average price of $11.11 and a 200-day moving average price of $10.19.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The company had revenue of $16.18 million during the quarter, compared to analysts' expectations of $16.95 million. First Northwest Bancorp had a net margin of 1.32% and a return on equity of 0.96%. Research analysts anticipate that First Northwest Bancorp will post 0.06 EPS for the current year.

Hedge Funds Weigh In On First Northwest Bancorp

Several institutional investors have recently modified their holdings of the stock. Empowered Funds LLC increased its stake in shares of First Northwest Bancorp by 9.6% in the 4th quarter. Empowered Funds LLC now owns 20,971 shares of the financial services provider's stock valued at $197,000 after acquiring an additional 1,841 shares during the last quarter. Jane Street Group LLC bought a new position in First Northwest Bancorp during the 4th quarter worth approximately $199,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in First Northwest Bancorp during the second quarter valued at approximately $345,000. Bridgeway Capital Management LLC grew its holdings in First Northwest Bancorp by 13.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 44,608 shares of the financial services provider's stock valued at $418,000 after purchasing an additional 5,441 shares during the period. Finally, 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 valued at $495,000 after purchasing an additional 30,543 shares in the last quarter. 66.11% of the stock is currently owned by institutional investors and hedge funds.

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.

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