First Northwest Bancorp (NASDAQ:FNWB) Coverage Initiated at Hovde Group

Hovde Group assumed coverage on shares of First Northwest Bancorp (NASDAQ:FNWB) in a report released on Monday morning. The firm issued an outperform rating and a $13.50 target price on the financial services provider’s stock.

Separately, Piper Sandler lowered their target price on First Northwest Bancorp from $12.50 to $11.00 and set a “neutral” rating for the company in a research note on Monday, October 28th.

First Northwest Bancorp Stock Performance

First Northwest Bancorp stock opened at $10.11 on Monday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a fifty day moving average price of $10.55 and a two-hundred day moving average price of $10.44. First Northwest Bancorp has a 52-week low of $8.91 and a 52-week high of $16.00. The firm has a market capitalization of $94.64 million, a P/E ratio of -15.55 and a beta of 0.94.

First Northwest Bancorp (NASDAQ:FNWB) last announced its earnings results on Tuesday, October 29th. The financial services provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.33). First Northwest Bancorp had a negative net margin of 4.79% and a negative return on equity of 0.18%. The business had revenue of $29.99 million during the quarter, compared to analyst estimates of $17.20 million. As a group, analysts anticipate that First Northwest Bancorp will post -0.8 EPS for the current fiscal year.

First Northwest Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.07 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.77%. First Northwest Bancorp’s dividend payout ratio (DPR) is presently -43.08%.

Hedge Funds Weigh In On First Northwest Bancorp

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in First Northwest Bancorp by 60.5% in the third quarter. Barclays PLC now owns 6,815 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 2,568 shares during the last quarter. Pure Portfolios Holdings LLC bought a new position in First Northwest Bancorp in the third quarter valued at about $353,000. Jacobs Levy Equity Management Inc. bought a new position in First Northwest Bancorp in the third quarter valued at about $350,000. Fourthstone LLC boosted its holdings in First Northwest Bancorp by 0.3% in the third quarter. Fourthstone LLC now owns 941,768 shares of the financial services provider’s stock valued at $10,077,000 after acquiring an additional 3,239 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in First Northwest Bancorp in the fourth quarter valued at about $277,000. Institutional investors own 66.11% of the company’s stock.

About First Northwest Bancorp

First Northwest Bancorp operates as a bank holding company for First Fed Bank that provides commercial and consumer banking services to individuals, businesses, and nonprofit organizations in western Washington, the United States. The company accepts various deposit instruments, including checking, money market deposit, savings, and transaction accounts, as well as certificates of deposit.