Share Buyback Plan Authorized by First Northwest Bancorp (FNWB)
First Northwest Bancorp (NASDAQ:FNWB) declared that its board has initiated a stock buyback program, which permits the company to buyback 1,170,000 outstanding shares on Friday, September 29th, EventVestor reports. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
First Northwest Bancorp (NASDAQ FNWB) opened at 17.10 on Friday. The firm has a market cap of $187.67 million, a price-to-earnings ratio of 37.17 and a beta of 0.45. The company’s 50-day moving average price is $15.83 and its 200 day moving average price is $15.83. First Northwest Bancorp has a 1-year low of $13.13 and a 1-year high of $17.28.
First Northwest Bancorp (NASDAQ:FNWB) last issued its quarterly earnings data on Friday, August 4th. The financial services provider reported $0.10 EPS for the quarter. The company had revenue of $9.72 million for the quarter. First Northwest Bancorp had a return on equity of 2.83% and a net margin of 11.91%.
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First Northwest Bancorp Company Profile
First Northwest Bancorp is the bank holding company for First Federal Savings and Loan Association of Port Angeles (the Bank). The Bank is a community-oriented financial institution primarily serving the North Olympic Peninsula region of Washington. The Bank offers a range of products and services focused on the lending and depository needs of the communities it serves.
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