First Northwest Bancorp (NASDAQ:FNWB) Sees Large Decrease in Short Interest

First Northwest Bancorp (NASDAQ:FNWB) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 40,272 shares, a drop of 45.1% from the August 31st total of 73,358 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 31,120 shares, the short-interest ratio is presently 1.3 days.

Insider Buying and Selling

In other First Northwest Bancorp news, Director Dana Behar sold 25,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were 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 of the company’s stock, valued at $1,326,170.69. The trade was a 17.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Northwest Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its holdings in First Northwest Bancorp by 8.7% in the first quarter. Empowered Funds LLC now owns 22,793 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 1,822 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of First Northwest Bancorp during the 2nd quarter worth approximately $345,000. Bank of America Corp DE bought a new position in shares of First Northwest Bancorp during the 2nd quarter worth approximately $533,000. Arcus Capital Partners LLC lifted its position in First Northwest Bancorp by 115.5% during 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. Finally, Pinnacle Holdings LLC acquired a new stake in First Northwest Bancorp in the second quarter valued at approximately $863,000. Institutional investors own 66.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of First Northwest Bancorp from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, September 3rd. Wall Street Zen upgraded First Northwest Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Piper Sandler lifted their target price on First Northwest Bancorp from $13.50 to $15.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. One research 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, the stock presently has an average rating of “Hold” and an average price target of $15.00.

First Northwest Bancorp Stock Down 1.3%

Shares of FNWB traded down $0.13 during mid-day trading on Thursday, hitting $9.88. The company’s stock had a trading volume of 12,762 shares, compared to its average volume of 34,506. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.98. The company’s 50-day moving average is $10.94 and its 200-day moving average is $10.36. First Northwest Bancorp has a 52-week low of $7.65 and a 52-week high of $12.52. The firm has a market capitalization of $93.85 million, a price-to-earnings ratio of 61.75 and a beta of 0.63.

First Northwest Bancorp (NASDAQ:FNWB) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $16.18 million during the quarter, compared to the consensus estimate of $16.95 million. First Northwest Bancorp had a net margin of 1.32% and a return on equity of 0.96%. On average, equities research analysts forecast that First Northwest Bancorp will post 0.06 EPS for the current fiscal year.

First Northwest Bancorp Company Profile

First Northwest Bancorp is the bank holding company for First Fed Bank, a community bank headquartered in Port Angeles, Washington. Through its subsidiary, the company provides banking and financial services to individuals, families, small businesses and commercial customers in communities across the Pacific Northwest.

First Fed Bank offers deposit products such as checking, savings, money market and certificate accounts, along with residential mortgage, home equity, commercial real estate, business and consumer lending.