First Northwest Bancorp (NASDAQ:FNWB) Posts Quarterly Earnings Results, Misses Estimates By $0.10 EPS

First Northwest Bancorp (NASDAQ:FNWB) issued its earnings results on Thursday. The financial services provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.10), FiscalAI reports. The company had revenue of $16.49 million for the quarter, compared to analyst estimates of $16.55 million. First Northwest Bancorp had a return on equity of 0.96% and a net margin of 1.32%.

First Northwest Bancorp Trading Up 0.6%

Shares of FNWB stock traded up $0.06 during trading on Thursday, hitting $10.38. 20,010 shares of the stock traded hands, compared to its average volume of 34,704. The firm has a market capitalization of $98.61 million, a P/E ratio of 64.89 and a beta of 0.63. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s fifty day moving average price is $10.27 and its 200-day moving average price is $10.23. First Northwest Bancorp has a 52-week low of $8.44 and a 52-week high of $12.52.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FNWB. Weiss Ratings cut First Northwest Bancorp from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, September 3rd. 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 research note on Friday, July 31st. Finally, Wall Street Zen upgraded First Northwest Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $15.00.

Insider Buying and Selling

In related news, Director Dana Behar sold 25,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $11.51, for a total value of $287,750.00. Following the completion of the transaction, the director directly owned 115,219 shares in the company, valued at approximately $1,326,170.69. This represents a 17.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.14% of the company’s stock.

First Northwest Bancorp Company Profile

First Northwest Bancorp is the bank holding company for First Fed Bank, a community-focused financial institution headquartered in Port Angeles, Washington. First Fed Bank provides banking services to individuals, families, businesses and nonprofit organizations in communities across the Olympic Peninsula and the broader Puget Sound region.

The bank offers deposit products such as checking and savings accounts, certificates of deposit and business accounts. Its lending activities include residential mortgages, home-equity loans, consumer loans and commercial financing for businesses and real estate projects.