First Northwest Bancorp (NASDAQ:FNWB) Shares Shorted: Short Interest Down 45.1% in September

Key Points

• Short interest fell 45.1% to 40,272 shares as of September 15, representing about 0.4% of FNWB’s outstanding stock and 1.3 days of average trading volume.
• FNWB shares traded flat at $10.01, below their 50-day moving average of $10.94. The stock has a market capitalization of approximately $95.1 million and a 12-month range of $7.65 to $12.52.
• The company reported quarterly EPS of $0.03, beating estimates by $0.02, though revenue of $16.18 million fell short of forecasts. Analysts maintain a consensus “Hold” rating with a $15.00 price target.

First Northwest Bancorp (NASDAQ:FNWB - Get Free Report) saw a large decrease in short interest in September. As of September 15th, there was short interest totaling 40,272 shares, a decrease of 45.1% from the August 31st total of 73,358 shares. Based on an average daily volume of 31,120 shares, the short-interest ratio is currently 1.3 days. Approximately 0.4% of the company's stock are short sold.

First Northwest Bancorp Price Performance

First Northwest Bancorp stock remained flat at $10.01 during mid-day trading on Wednesday. 24,351 shares of the company's stock were exchanged, compared to its average volume of 29,007. 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 stock has a market cap of $95.09 million, a price-to-earnings ratio of 62.57 and a beta of 0.63. The stock's 50 day simple moving average is $10.94 and its 200 day simple moving average is $10.36. First Northwest Bancorp has a 12-month low of $7.65 and a 12-month high of $12.52.

First Northwest Bancorp (NASDAQ:FNWB - Get Free Report) last announced its quarterly earnings data 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 net margin of 1.32% and a return on equity of 0.96%. The business had revenue of $16.18 million during the quarter, compared to analyst estimates of $16.95 million. On average, analysts predict that First Northwest Bancorp will post 0.06 earnings per share for the current fiscal year.

Insider Buying and Selling at First Northwest Bancorp

In other First Northwest Bancorp news, Director Dana Behar sold 25,000 shares of the business'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 in the company, valued at $1,326,170.69. The trade was a 17.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.14% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FNWB. Empowered Funds LLC boosted its stake in First Northwest Bancorp by 8.7% in the 1st quarter. Empowered Funds LLC now owns 22,793 shares of the financial services provider's stock valued at $198,000 after buying an additional 1,822 shares in the last quarter. Arcus Capital Partners LLC raised its position in shares of First Northwest Bancorp by 115.5% during the 1st 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. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of First Northwest Bancorp in the 2nd quarter valued at approximately $345,000. Renaissance Technologies LLC grew its holdings in shares of First Northwest Bancorp by 14.6% in the 1st quarter. Renaissance Technologies LLC now owns 338,305 shares of the financial services provider's stock valued at $2,936,000 after buying an additional 43,200 shares during the period. Finally, Bank of America Corp DE bought a new stake in shares of First Northwest Bancorp in the second quarter worth about $533,000. Institutional investors and hedge funds own 66.11% of the company's stock.

Wall Street Analysts Forecast Growth

FNWB has been the subject of a number of recent analyst reports. Wall Street Zen raised First Northwest Bancorp from a "sell" rating to a "hold" rating in a 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 research note on Thursday, September 3rd. Finally, Piper Sandler lifted their price objective on 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 analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $15.00.

About First Northwest Bancorp

First Northwest Bancorp is the bank holding company for First Fed Bank, a community bank headquartered in Port Angeles, Washington. Through its subsidiary, the company provides banking and financial services to individuals, families, small businesses and commercial customers in communities across the Pacific Northwest.

First Fed Bank offers deposit products such as checking, savings, money market and certificate accounts, along with residential mortgage, home equity, commercial real estate, business and consumer lending.

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