First Northwest Bancorp (NASDAQ:FNWB) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

First Northwest Bancorp (NASDAQ:FNWBGet Free Report) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02, Zacks reports. First Northwest Bancorp had a net margin of 4.20% and a return on equity of 3.14%. The company had revenue of $16.18 million during the quarter, compared to analysts’ expectations of $16.95 million.

First Northwest Bancorp Price Performance

Shares of FNWB traded up $0.39 during midday trading on Wednesday, hitting $12.18. The company’s stock had a trading volume of 10,771 shares, compared to its average volume of 37,334. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.09. First Northwest Bancorp has a one year low of $6.90 and a one year high of $12.52. The stock has a market capitalization of $115.72 million, a price-to-earnings ratio of 22.15 and a beta of 0.64. The company’s fifty day simple moving average is $10.75 and its two-hundred day simple moving average is $10.08.

Institutional Trading of First Northwest Bancorp

A number of hedge funds have recently made changes to their positions in the company. Empowered Funds LLC grew its stake in shares of First Northwest Bancorp by 9.6% in the fourth quarter. Empowered Funds LLC now owns 20,971 shares of the financial services provider’s stock worth $197,000 after purchasing an additional 1,841 shares during the last quarter. Pinnacle Holdings LLC lifted its holdings in First Northwest Bancorp by 18.0% during the 4th quarter. Pinnacle Holdings LLC now owns 84,928 shares of the financial services provider’s stock worth $797,000 after buying an additional 12,928 shares during the period. Renaissance Technologies LLC grew its position in shares of First Northwest Bancorp by 5.6% in the 4th quarter. Renaissance Technologies LLC now owns 295,105 shares of the financial services provider’s stock valued at $2,768,000 after buying an additional 15,600 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of First Northwest Bancorp in the 4th quarter valued at about $199,000. Finally, Fourthstone LLC increased its stake in shares of First Northwest Bancorp by 8.1% in the fourth quarter. Fourthstone LLC now owns 939,429 shares of the financial services provider’s stock valued at $8,812,000 after buying an additional 70,337 shares during the period. 66.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FNWB has been the topic of several research reports. Weiss Ratings upgraded First Northwest Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded shares of First Northwest Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, First Northwest Bancorp has an average rating of “Hold” and a consensus target price of $13.50.

Read Our Latest Stock Report on FNWB

First Northwest Bancorp Company Profile

(Get Free Report)

First Northwest Bancorp is a bank holding company headquartered in Mountlake Terrace, Washington. Through its wholly owned subsidiary, First Northwest Bank, the company delivers a full spectrum of community banking services to individuals, families, and small to mid-sized businesses. Its operations are rooted in local decision-making and personalized client relationships, reflecting a community-oriented banking model.

On the retail side, First Northwest Bank offers a range of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.

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Earnings History for First Northwest Bancorp (NASDAQ:FNWB)

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