State Street Corp trimmed its stake in shares of First Northwest Bancorp (NASDAQ:FNWB) by 87.8% during the second quarter, Holdings Channel reports. The firm owned 21,003 shares of the financial services provider’s stock after selling 150,740 shares during the period. State Street Corp’s holdings in First Northwest Bancorp were worth $369,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FNWB. HoldCo Asset Management L.P. acquired a new stake in First Northwest Bancorp during the second quarter valued at approximately $4,271,000. The Manufacturers Life Insurance Company acquired a new stake in First Northwest Bancorp during the second quarter valued at approximately $2,611,000. JCSD Capital LLC acquired a new stake in First Northwest Bancorp during the second quarter valued at approximately $1,840,000. Renaissance Technologies LLC boosted its holdings in First Northwest Bancorp by 7.7% during the second quarter. Renaissance Technologies LLC now owns 470,005 shares of the financial services provider’s stock valued at $8,249,000 after purchasing an additional 33,800 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC boosted its holdings in First Northwest Bancorp by 9.8% during the second quarter. Pacific Ridge Capital Partners LLC now owns 324,949 shares of the financial services provider’s stock valued at $5,703,000 after purchasing an additional 29,091 shares in the last quarter. 51.70% of the stock is currently owned by institutional investors.
Shares of FNWB opened at $18.66 on Wednesday. The firm has a market cap of $187.09 million, a P/E ratio of 12.28 and a beta of 1.00. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.53. First Northwest Bancorp has a one year low of $13.70 and a one year high of $19.25. The stock has a 50 day simple moving average of $18.21.
First Northwest Bancorp (NASDAQ:FNWB) last announced its earnings results on Tuesday, October 26th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.25 by $0.20. First Northwest Bancorp had a return on equity of 7.58% and a net margin of 18.58%. Sell-side analysts anticipate that First Northwest Bancorp will post 1.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 26th. Stockholders of record on Friday, November 12th were issued a $0.07 dividend. This is an increase from First Northwest Bancorp’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Wednesday, November 10th. First Northwest Bancorp’s payout ratio is presently 18.42%.
In related news, Director Norman J. Jr. Tonina acquired 1,670 shares of the company’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was purchased at an average price of $18.28 per share, for a total transaction of $30,527.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.60% of the stock is owned by insiders.
Separately, Piper Sandler started coverage on First Northwest Bancorp in a report on Wednesday, September 1st. They issued a “neutral” rating and a $20.00 target price on the stock.
About First Northwest Bancorp
First Northwest Bancorp (Washington) is a bank holding company. It engages in the provision of commercial, mortgage, and lending activities and investment. Its offerings include saving account, certificate of deposits, money market, credit card, fixed rate loans, mortgages, mutual funds, insurances and education savings account.
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