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

Hovde Group began coverage on shares of First Northwest Bancorp (NASDAQ:FNWB) in a research note issued to investors on Monday, Marketbeat reports. The firm 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 30.18% from the stock’s previous close.

Separately, Piper Sandler lowered 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 Trading Up 2.6 %

NASDAQ FNWB opened at $10.37 on Monday. The firm has a market capitalization of $97.07 million, a PE ratio of -15.95 and a beta of 0.94. The business’s 50-day moving average price is $10.57 and its two-hundred day moving average price is $10.45. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.08. First Northwest Bancorp has a 12 month low of $8.91 and a 12 month high of $16.00.

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

Institutional Investors Weigh In On First Northwest Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new stake in shares of First Northwest Bancorp in the 4th quarter valued at about $277,000. Barclays PLC grew its stake in First Northwest Bancorp by 60.5% in the third quarter. Barclays PLC now owns 6,815 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 2,568 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of First Northwest Bancorp during the third quarter valued at approximately $350,000. Fourthstone LLC increased its holdings in shares of First Northwest Bancorp by 0.3% during the third 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 in the last quarter. Finally, Pure Portfolios Holdings LLC acquired a new position in shares of First Northwest Bancorp during the third quarter worth approximately $353,000. 66.11% of the stock is owned by institutional investors.

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.