First Northwest Bancorp (NASDAQ:FNWB) Shares Pass Above Fifty Day Moving Average - Here's What Happened

Key Points

• FNWB shares moved above their 50-day moving average of $11.30, reaching $11.36 before closing at $11.26; trading volume was 9,897 shares.
• Analyst sentiment remains cautious, with an average rating of “Hold” from one Buy and three Hold ratings, although Piper Sandler raised its price target from $13.50 to $15.00.
• First Northwest Bancorp exceeded quarterly EPS expectations, reporting $0.03 versus the $0.01 consensus, while revenue of $16.18 million fell short of the $16.95 million estimate.

First Northwest Bancorp (NASDAQ:FNWB - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.30 and traded as high as $11.36. First Northwest Bancorp shares last traded at $11.26, with a volume of 9,897 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on FNWB shares. Wall Street Zen raised shares of First Northwest Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings raised shares of First Northwest Bancorp from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Finally, Piper Sandler raised 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. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, First Northwest Bancorp has an average rating of "Hold" and a consensus price target of $15.00.

First Northwest Bancorp Stock Down 0.9%

The stock has a market capitalization of $106.97 million, a price-to-earnings ratio of 70.38 and a beta of 0.63. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.98. The business's 50-day moving average is $11.30 and its two-hundred day moving average is $10.24.

First Northwest Bancorp (NASDAQ:FNWB - Get Free Report) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. The business had revenue of $16.18 million for the quarter, compared to analyst estimates of $16.95 million. First Northwest Bancorp had a net margin of 1.32% and a return on equity of 0.96%. Equities analysts anticipate 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 D. Behar sold 25,000 shares of the company's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $11.51, for a total value of $287,750.00. Following the completion of the sale, the director directly owned 115,219 shares in the company, valued at $1,326,170.69. This represents a 17.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Northwest Bancorp

A number of hedge funds have recently modified their holdings of FNWB. Empowered Funds LLC raised its stake in First Northwest Bancorp by 9.6% during the fourth quarter. Empowered Funds LLC now owns 20,971 shares of the financial services provider's stock worth $197,000 after purchasing an additional 1,841 shares during the period. Jane Street Group LLC acquired a new stake in shares of First Northwest Bancorp during the 4th quarter worth approximately $199,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of First Northwest Bancorp during the 2nd quarter valued at approximately $345,000. Bridgeway Capital Management LLC lifted its holdings in First Northwest Bancorp by 13.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 44,608 shares of the financial services provider's stock valued at $418,000 after acquiring an additional 5,441 shares during the last quarter. Finally, Arcus Capital Partners LLC lifted its holdings 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 acquiring an additional 30,543 shares during the last quarter. Hedge funds and other institutional investors own 66.11% of the company's stock.

About First Northwest Bancorp

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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