First Financial Northwest, Inc. (FFNW) Stock Rating Lowered by ValuEngine
First Financial Northwest, Inc. (NASDAQ:FFNW) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Friday.
Separately, Zacks Investment Research raised First Financial Northwest from a “strong sell” rating to a “hold” rating in a research report on Friday, May 12th.
Shares of First Financial Northwest (NASDAQ:FFNW) remained flat at $16.00 during mid-day trading on Friday. The company had a trading volume of 38,616 shares. The firm has a market capitalization of $165.81 million, a P/E ratio of 17.84 and a beta of 0.33. The company’s 50-day moving average is $16.22 and its 200-day moving average is $17.03. First Financial Northwest has a 52-week low of $13.34 and a 52-week high of $21.29.
First Financial Northwest (NASDAQ:FFNW) last posted its earnings results on Wednesday, July 26th. The bank reported $0.18 EPS for the quarter, missing the consensus estimate of $0.22 by $0.04. The firm had revenue of $9.73 million during the quarter, compared to analyst estimates of $9.75 million. First Financial Northwest had a net margin of 20.79% and a return on equity of 6.85%. On average, equities analysts predict that First Financial Northwest will post $0.90 earnings per share for the current fiscal year.
First Financial Northwest announced that its Board of Directors has initiated a share buyback program on Monday, May 22nd that authorizes the company to buyback 1,100,000 outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Joann E. Lee sold 6,619 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $16.12, for a total transaction of $106,698.28. Following the sale, the director now owns 95,604 shares of the company’s stock, valued at $1,541,136.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.31% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in shares of First Financial Northwest by 11.9% in the first quarter. Renaissance Technologies LLC now owns 731,100 shares of the bank’s stock worth $12,919,000 after buying an additional 77,693 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of First Financial Northwest by 1.4% in the second quarter. Vanguard Group Inc. now owns 350,106 shares of the bank’s stock worth $5,647,000 after buying an additional 4,850 shares in the last quarter. Context BH Capital Management LP increased its stake in shares of First Financial Northwest by 3.5% in the second quarter. Context BH Capital Management LP now owns 167,698 shares of the bank’s stock worth $2,705,000 after buying an additional 5,599 shares in the last quarter. State Street Corp increased its stake in shares of First Financial Northwest by 39.1% in the fourth quarter. State Street Corp now owns 136,953 shares of the bank’s stock worth $2,706,000 after buying an additional 38,497 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of First Financial Northwest by 2.1% in the second quarter. Northern Trust Corp now owns 94,063 shares of the bank’s stock worth $1,518,000 after buying an additional 1,893 shares in the last quarter. 44.39% of the stock is currently owned by institutional investors and hedge funds.
About First Financial Northwest
First Financial Northwest, Inc (First Financial Northwest) is a holding company for First Financial Northwest Bank (the Bank). The Bank primarily serves the greater Puget Sound region of King and to a lesser extent, Pierce, Snohomish and Kitsap Counties, Washington through its full-service banking office located in Renton, Washington and branch office in Mill Creek, Washington.
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