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

Equities research analysts at Hovde Group initiated coverage on shares of First Northwest Bancorp (NASDAQ:FNWB) in a report released on Monday. The brokerage set an “outperform” rating and a $13.50 price target on the financial services provider’s stock. Hovde Group’s target price suggests a potential upside of 35.27% from the stock’s previous close.

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

First Northwest Bancorp Stock Down 1.5 %

Shares of NASDAQ FNWB opened at $9.98 on Monday. The company’s 50-day simple moving average is $10.55 and its 200-day simple moving average is $10.43. First Northwest Bancorp has a 52-week low of $8.91 and a 52-week high of $16.00. The firm has a market cap of $93.42 million, a price-to-earnings ratio of -15.35 and a beta of 0.94. 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 (NASDAQ:FNWB) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.33). The business had revenue of $29.99 million during 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%. Equities analysts predict that First Northwest Bancorp will post -0.8 EPS for the current fiscal year.

Institutional Trading of First Northwest Bancorp

Several institutional investors have recently modified their holdings of the stock. Barclays PLC raised its position in First Northwest Bancorp by 60.5% in the 3rd quarter. Barclays PLC now owns 6,815 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 2,568 shares during the last quarter. Pure Portfolios Holdings LLC purchased a new stake in First Northwest Bancorp in the 3rd quarter valued at $353,000. Jacobs Levy Equity Management Inc. purchased a new stake in First Northwest Bancorp in the 3rd quarter valued at $350,000. Finally, Fourthstone LLC raised its position in First Northwest Bancorp by 0.3% in the 3rd quarter. Fourthstone LLC now owns 941,768 shares of the financial services provider’s stock valued at $10,077,000 after purchasing an additional 3,239 shares during the last quarter. Hedge funds and other 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.