First Northwest Bancorp (NASDAQ:FNWB) Announces $0.07 Quarterly Dividend

First Northwest Bancorp (NASDAQ:FNWB) announced a quarterly dividend on Tuesday, October 22nd, Wall Street Journal reports. Stockholders of record on Friday, November 8th will be paid a dividend of 0.07 per share by the financial services provider on Friday, November 22nd. This represents a $0.28 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, November 8th.

First Northwest Bancorp has raised its dividend by an average of 10.1% per year over the last three years. First Northwest Bancorp has a dividend payout ratio of 23.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Northwest Bancorp to earn $0.75 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 37.3%.

First Northwest Bancorp Stock Performance

NASDAQ FNWB opened at $10.22 on Thursday. First Northwest Bancorp has a 52-week low of $8.91 and a 52-week high of $16.12. The company has a 50-day simple moving average of $10.65 and a 200 day simple moving average of $10.39. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.01 and a current ratio of 1.01.

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

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their target price on shares of 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 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.