Hovde Group Initiates Coverage on First Northwest Bancorp (NASDAQ:FNWB)

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

Separately, Piper Sandler lowered their target price on shares of First Northwest Bancorp from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Monday, October 28th.

First Northwest Bancorp Price Performance

FNWB stock opened at $10.75 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.08. First Northwest Bancorp has a fifty-two week low of $8.91 and a fifty-two week high of $16.00. The stock’s 50 day simple moving average is $10.58 and its 200 day simple moving average is $10.45.

First Northwest Bancorp (NASDAQ:FNWB) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported ($0.23) EPS 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 for the quarter, compared to the consensus estimate of $17.20 million. Equities research analysts forecast that First Northwest Bancorp will post -0.8 EPS for the current fiscal year.

First Northwest Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.28 annualized dividend and a yield of 2.60%. First Northwest Bancorp’s dividend payout ratio (DPR) is currently -43.08%.

Hedge Funds Weigh In On First Northwest Bancorp

Large investors have recently bought and sold shares of the stock. Barclays PLC grew its stake in shares of First Northwest Bancorp by 60.5% in the 3rd quarter. Barclays PLC now owns 6,815 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 2,568 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in First Northwest Bancorp in the 4th quarter worth about $277,000. Jacobs Levy Equity Management Inc. purchased a new stake in First Northwest Bancorp in the 3rd quarter valued at about $350,000. Pure Portfolios Holdings LLC bought a new position in shares of First Northwest Bancorp during the 3rd quarter worth approximately $353,000. Finally, Fourthstone LLC boosted its stake in shares of First Northwest Bancorp by 0.3% in the 3rd quarter. Fourthstone LLC now owns 941,768 shares of the financial services provider’s stock worth $10,077,000 after buying an additional 3,239 shares during the last quarter. 66.11% of the stock is currently owned by institutional investors.

First Northwest Bancorp Company Profile

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.