First Northwest Bancorp (NASDAQ:FNWB) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• First Northwest Bancorp shares crossed above their 200-day moving average, reaching $10.37 before closing at $10.32, up 5.7%.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from four analysts, though Piper Sandler raised its price target to $15.00 and reiterated an “overweight” rating.
• The company beat quarterly EPS estimates by $0.02, reporting $0.03 per share, while institutional investors increased their involvement; funds and hedge funds now own 66.11% of the stock.

First Northwest Bancorp (NASDAQ:FNWB - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $10.23 and traded as high as $10.37. First Northwest Bancorp shares last traded at $10.32, with a volume of 71,169 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FNWB. 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 note on Friday, July 31st. Weiss Ratings lowered shares of First Northwest Bancorp from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, September 3rd. Finally, Wall Street Zen upgraded shares of First Northwest Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $15.00.

First Northwest Bancorp Stock Up 5.7%

The firm has a market cap of $98.04 million, a P/E ratio of 64.50 and a beta of 0.63. The business has a fifty day moving average of $10.27 and a 200 day moving average of $10.23. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.98.

First Northwest Bancorp (NASDAQ:FNWB - Get Free Report) last issued its quarterly earnings data 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 firm 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%. On average, equities research analysts predict that First Northwest Bancorp will post 0.06 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of First Northwest Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in FNWB. Empowered Funds LLC bought a new position in First Northwest Bancorp in the second quarter valued at $260,000. Bank of America Corp DE acquired a new stake in First Northwest Bancorp in the 2nd quarter valued at $533,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in First Northwest Bancorp in the 2nd quarter valued at $345,000. Pinnacle Holdings LLC bought a new stake in First Northwest Bancorp during the 2nd quarter worth about $863,000. Finally, BlackRock Inc. bought a new stake in First Northwest Bancorp during the 2nd quarter worth about $1,394,000. 66.11% of the stock is currently owned by institutional investors and hedge funds.

First Northwest Bancorp Company Profile

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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