Piper Sandler Forecasts Strong Price Appreciation for First Northwest Bancorp (NASDAQ:FNWB) Stock

First Northwest Bancorp (NASDAQ:FNWB) had its target price upped by stock analysts at Piper Sandler from $11.00 to $12.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target indicates a potential upside of 11.68% from the company’s current price.

Separately, Hovde Group initiated coverage on First Northwest Bancorp in a research note on Monday, January 13th. They issued an “outperform” rating and a $13.50 target price for the company.

First Northwest Bancorp Price Performance

Shares of NASDAQ:FNWB traded down $0.21 during midday trading on Monday, reaching $10.75. 21,187 shares of the company’s stock traded hands, compared to its average volume of 13,191. The company has a fifty day simple moving average of $10.61 and a two-hundred day simple moving average of $10.55. First Northwest Bancorp has a 1 year low of $8.91 and a 1 year high of $16.00. The company has a market cap of $100.57 million, a P/E ratio of -30.70 and a beta of 0.93. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.04 and a current ratio of 1.04.

First Northwest Bancorp (NASDAQ:FNWB) last released its earnings results on Wednesday, January 29th. The financial services provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.38). First Northwest Bancorp had a negative net margin of 2.38% and a negative return on equity of 1.86%. Equities analysts predict that First Northwest Bancorp will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings 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 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 third quarter valued at approximately $353,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of First Northwest Bancorp in the third quarter valued at approximately $350,000. FNY Investment Advisers LLC purchased a new position in shares of First Northwest Bancorp during the fourth quarter worth approximately $277,000. Finally, Fourthstone LLC increased its holdings 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 valued at $10,077,000 after acquiring an additional 3,239 shares during the period. 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.