First Financial Northwest (NASDAQ:FFNW) Share Price Crosses Above Two Hundred Day Moving Average of $21.22

First Financial Northwest, Inc. (NASDAQ:FFNW)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.22 and traded as high as $22.74. First Financial Northwest shares last traded at $22.61, with a volume of 22,129 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler downgraded First Financial Northwest from an “overweight” rating to a “neutral” rating and set a $23.50 target price for the company. in a research note on Friday, July 26th. StockNews.com downgraded First Financial Northwest from a “hold” rating to a “sell” rating in a research note on Tuesday, September 10th.

First Financial Northwest Stock Performance

The firm has a fifty day simple moving average of $22.07 and a 200 day simple moving average of $21.22. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.10. The stock has a market cap of $207.42 million, a price-to-earnings ratio of 68.52 and a beta of 0.53.

First Financial Northwest (NASDAQ:FFNW) last issued its earnings results on Thursday, July 25th. The bank reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.13. First Financial Northwest had a return on equity of 1.98% and a net margin of 3.89%. The business had revenue of $19.99 million during the quarter, compared to analysts’ expectations of $9.60 million. As a group, sell-side analysts expect that First Financial Northwest, Inc. will post 0.27 earnings per share for the current year.

Hedge Funds Weigh In On First Financial Northwest

A number of hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC raised its holdings in shares of First Financial Northwest by 9.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 11,986 shares of the bank’s stock worth $253,000 after buying an additional 1,069 shares in the last quarter. Rhumbline Advisers acquired a new stake in First Financial Northwest during the 2nd quarter valued at $188,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in First Financial Northwest during the 2nd quarter valued at $403,000. Clear Harbor Asset Management LLC acquired a new stake in First Financial Northwest during the 2nd quarter valued at $411,000. Finally, Bank of New York Mellon Corp increased its holdings in First Financial Northwest by 45.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 63,223 shares of the bank’s stock valued at $1,336,000 after purchasing an additional 19,670 shares in the last quarter. 55.00% of the stock is owned by institutional investors and hedge funds.

About First Financial Northwest

First Financial Northwest, Inc operates as the bank holding company for First Financial Northwest Bank that provides commercial banking services in Washington. The company offers a range of deposit products, including noninterest-bearing accounts, interest-bearing demand accounts, money market accounts, savings accounts, and certificates of deposit.