First Northwest Bancorp (NASDAQ:FNWB) Stock Price Target Cut by Piper Sandler

by · The Markets Daily

First Northwest Bancorp (NASDAQ:FNWB – Get Free Report) had its target price decreased by investment analysts at Piper Sandler from $15.00 to $14.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler‘s price objective would suggest a potential upside of 34.74% from the stock’s previous close.

Several other brokerages have also issued reports on FNWB. Weiss Ratings lowered First Northwest Bancorp from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, September 3rd. Wall Street Zen downgraded First Northwest Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Northwest Bancorp currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Read Our Latest Report on First Northwest Bancorp

First Northwest Bancorp Stock Performance

First Northwest Bancorp stock traded up $0.16 during mid-day trading on Monday, reaching $10.39. The company had a trading volume of 7,542 shares, compared to its average volume of 34,546. 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 firm has a market cap of $98.69 million, a price-to-earnings ratio of -1,039.00 and a beta of 0.63. The company has a 50 day moving average of $10.24 and a 200-day moving average of $10.23. First Northwest Bancorp has a 52 week low of $8.44 and a 52 week high of $12.52.

First Northwest Bancorp (NASDAQ:FNWB – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.10). The company had revenue of $16.49 million for the quarter, compared to the consensus estimate of $16.55 million. First Northwest Bancorp had a positive return on equity of 0.62% and a negative net margin of 0.04%. On average, sell-side analysts expect that First Northwest Bancorp will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling

In other First Northwest Bancorp news, Director Dana Behar sold 25,000 shares of First Northwest Bancorp stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $11.51, for a total transaction of $287,750.00. Following the sale, the director directly owned 115,219 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 4.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Northwest Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of FNWB. Renaissance Technologies LLC grew its position in First Northwest Bancorp by 14.6% in the first quarter. Renaissance Technologies LLC now owns 338,305 shares of the financial services provider’s stock valued at $2,936,000 after acquiring an additional 43,200 shares during the period. BlackRock Inc. acquired a new stake in shares of First Northwest Bancorp in the 2nd quarter valued at $1,394,000. Pinnacle Holdings LLC acquired a new stake in shares of First Northwest Bancorp in the 2nd quarter valued at $863,000. Bank of America Corp DE bought a new stake in shares of First Northwest Bancorp in the 2nd quarter worth about $533,000. Finally, Arcus Capital Partners LLC grew its holdings in shares of First Northwest Bancorp by 115.5% in the 1st quarter. Arcus Capital Partners LLC now owns 56,987 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 30,543 shares during the last quarter. Institutional investors own 66.11% of the company’s stock.

About First Northwest Bancorp

(Get Free Report)

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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