Short Interest in First Northwest Bancorp (NASDAQ:FNWB) Declines By 18.2%

Key Points

• Short interest fell 18.2% — shorted shares declined to 41,964 as of March 31 (from 51,322 on March 15), representing about 0.5% of shares and a days-to-cover ratio of 1.0.
• Insider buying by the CEO — CEO Curt Queyrouze purchased 4,770 shares at an average price of $10.41 on Feb 6, raising his direct holdings to 54,770 shares (a 9.54% increase); insiders now own 5.47% of the stock.
• Market and earnings snapshot: the stock traded at $9.93 (up $0.06) with a $94.34M market cap; the company missed quarterly EPS estimates ($0.04 vs. $0.09) but beat revenue expectations, and analysts have a consensus "Hold" rating with a $13.50 target.

First Northwest Bancorp (NASDAQ:FNWB - Get Free Report) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 41,964 shares, a decline of 18.2% from the March 15th total of 51,322 shares. Based on an average daily trading volume, of 42,638 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.5% of the company's shares are short sold.

First Northwest Bancorp Stock Up 0.6%

Shares of First Northwest Bancorp stock traded up $0.06 on Thursday, hitting $9.93. The company had a trading volume of 39,365 shares, compared to its average volume of 67,565. The firm has a market capitalization of $94.34 million, a P/E ratio of 13.79 and a beta of 0.58. First Northwest Bancorp has a twelve month low of $6.05 and a twelve month high of $10.98. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a 50-day moving average of $9.43 and a 200-day moving average of $9.39.

First Northwest Bancorp (NASDAQ:FNWB - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.05). The company had revenue of $18.38 million during the quarter, compared to analyst estimates of $17.15 million. First Northwest Bancorp had a net margin of 5.35% and a return on equity of 4.18%. Research analysts predict that First Northwest Bancorp will post 0.5 earnings per share for the current year.

Insider Activity at First Northwest Bancorp

In other First Northwest Bancorp news, CEO Curt Queyrouze purchased 4,770 shares of the stock in a transaction dated Friday, February 6th. The stock was bought at an average price of $10.41 per share, for a total transaction of $49,655.70. Following the transaction, the chief executive officer directly owned 54,770 shares in the company, valued at $570,155.70. This represents a 9.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 5.47% of the stock is currently owned by corporate insiders.

Institutional Trading of First Northwest Bancorp

A number of institutional investors have recently made changes to their positions in the business. Bensler LLC lifted its position in shares of First Northwest Bancorp by 11.0% in the third quarter. Bensler LLC now owns 12,868 shares of the financial services provider's stock worth $101,000 after purchasing an additional 1,276 shares in the last quarter. Empowered Funds LLC lifted its position in shares of First Northwest Bancorp by 9.6% in 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 in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of 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 worth $418,000 after purchasing an additional 5,441 shares in the last quarter. Pinnacle Holdings LLC lifted its position 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 worth $797,000 after purchasing an additional 12,928 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position 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 worth $2,768,000 after purchasing an additional 15,600 shares in the last quarter. Institutional investors own 66.11% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on FNWB. Weiss Ratings reiterated a "sell (d-)" rating on shares of First Northwest Bancorp in a research report on Friday, March 27th. Wall Street Zen upgraded shares of First Northwest Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, March 29th. Finally, Zacks Research upgraded shares of First Northwest Bancorp from a "strong sell" rating to a "hold" rating in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, First Northwest Bancorp has a consensus rating of "Hold" and a consensus target price of $13.50.

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.

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.