Pinnacle Holdings LLC Makes New $863,000 Investment in First Northwest Bancorp $FNWB

Pinnacle Holdings LLC purchased a new stake in First Northwest Bancorp (NASDAQ:FNWB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 79,872 shares of the financial services provider’s stock, valued at approximately $863,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Empowered Funds LLC boosted its stake in shares of First Northwest Bancorp by 9.6% during the 4th quarter. Empowered Funds LLC now owns 20,971 shares of the financial services provider’s stock worth $197,000 after acquiring an additional 1,841 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of First Northwest Bancorp in the 4th quarter worth $199,000. Bridgeway Capital Management LLC raised its position in shares of First Northwest Bancorp by 13.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 44,608 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 5,441 shares during the period. Arcus Capital Partners LLC raised its position in shares of First Northwest Bancorp by 115.5% during the first quarter. Arcus Capital Partners LLC now owns 56,987 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 30,543 shares during the period. Finally, BlackRock Inc. purchased a new stake in shares of First Northwest Bancorp during the second quarter valued at $1,394,000. Institutional investors and hedge funds own 66.11% of the company’s stock.

First Northwest Bancorp Stock Performance

NASDAQ FNWB opened at $11.09 on Monday. The firm’s 50 day moving average price is $11.18 and its two-hundred day moving average price is $10.21. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.04 and a current ratio of 1.04. First Northwest Bancorp has a twelve month low of $6.90 and a twelve month high of $12.52. The stock has a market cap of $105.36 million, a price-to-earnings ratio of 69.32 and a beta of 0.63.

First Northwest Bancorp (NASDAQ:FNWB) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $16.18 million during the quarter, compared to analyst estimates of $16.95 million. First Northwest Bancorp had a return on equity of 0.96% and a net margin of 1.32%. Equities analysts anticipate that First Northwest Bancorp will post 0.06 EPS for the current year.

Insider Buying and Selling at First Northwest Bancorp

In related news, Director Dana D. Behar sold 25,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $11.51, for a total transaction of $287,750.00. Following the transaction, the director directly owned 115,219 shares of the company’s stock, valued at approximately $1,326,170.69. The trade was a 17.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wall Street Zen upgraded First Northwest Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Piper Sandler boosted their price objective on First Northwest Bancorp from $13.50 to $15.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, Weiss Ratings raised shares of First Northwest Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.00.

About First Northwest Bancorp

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.