Janney Montgomery Scott upgraded shares of First Financial Northwest (NASDAQ:FFNW) from a neutral rating to a buy rating in a report released on Thursday, Benzinga reports.
Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of First Merchants from a hold rating to a sell rating in a research note on Monday, July 1st. ValuEngine raised shares of WPP from a sell rating to a hold rating in a research note on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. First Financial Northwest has a consensus rating of Hold and an average price target of $19.00.
NASDAQ:FFNW opened at $14.39 on Thursday. First Financial Northwest has a 1-year low of $13.26 and a 1-year high of $20.50. The business has a 50-day simple moving average of $14.41. The stock has a market capitalization of $149.30 million, a price-to-earnings ratio of 14.84, a PEG ratio of 2.16 and a beta of 0.23. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.08.
First Financial Northwest (NASDAQ:FFNW) last released its quarterly earnings data on Thursday, April 25th. The bank reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.05). First Financial Northwest had a return on equity of 6.53% and a net margin of 16.87%. The business had revenue of $10.55 million during the quarter, compared to analysts’ expectations of $11.28 million. As a group, sell-side analysts predict that First Financial Northwest will post 0.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a $0.09 dividend. The ex-dividend date was Thursday, June 6th. This is a positive change from First Financial Northwest’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 2.50%. First Financial Northwest’s dividend payout ratio is 25.17%.
In other news, Director Kevin D. Padrick bought 17,540 shares of First Financial Northwest stock in a transaction on Wednesday, June 12th. The stock was acquired at an average cost of $15.05 per share, for a total transaction of $263,977.00. Following the completion of the acquisition, the director now owns 66,934 shares of the company’s stock, valued at approximately $1,007,356.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin D. Padrick bought 6,489 shares of First Financial Northwest stock in a transaction on Friday, May 31st. The stock was purchased at an average price of $15.05 per share, with a total value of $97,659.45. Following the completion of the acquisition, the director now directly owns 52,231 shares of the company’s stock, valued at approximately $786,076.55. The disclosure for this purchase can be found here. 6.87% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA raised its holdings in First Financial Northwest by 732.4% in the first quarter. BNP Paribas Arbitrage SA now owns 1,748 shares of the bank’s stock worth $28,000 after purchasing an additional 1,538 shares in the last quarter. Rhumbline Advisers bought a new position in First Financial Northwest in the fourth quarter worth about $174,000. First Trust Advisors LP raised its holdings in First Financial Northwest by 18.7% in the fourth quarter. First Trust Advisors LP now owns 14,955 shares of the bank’s stock worth $231,000 after purchasing an additional 2,355 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in First Financial Northwest by 7.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 18,259 shares of the bank’s stock worth $288,000 after purchasing an additional 1,234 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in First Financial Northwest by 23.3% in the first quarter. Acadian Asset Management LLC now owns 60,308 shares of the bank’s stock worth $949,000 after purchasing an additional 11,400 shares in the last quarter. Institutional investors and hedge funds own 45.41% of the company’s stock.
About First Financial Northwest
First Financial Northwest, Inc operates as the 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 deposit accounts, statement savings accounts, and certificates of deposit.
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