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

Research analysts at Hovde Group started coverage on shares of First Northwest Bancorp (NASDAQ:FNWB) in a report released on Monday. The firm set an “outperform” rating and a $13.50 price target on the financial services provider’s stock. Hovde Group’s target price indicates a potential upside of 35.27% from the stock’s current price.

Separately, Piper Sandler cut their price objective on shares of First Northwest Bancorp from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Monday, October 28th.

First Northwest Bancorp Stock Down 1.5 %

Shares of First Northwest Bancorp stock opened at $9.98 on Monday. The company has a market cap of $93.42 million, a P/E ratio of -15.35 and a beta of 0.94. 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 has a one year low of $8.91 and a one year high of $16.00. The firm has a fifty day moving average of $10.55 and a two-hundred day moving average of $10.43.

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

Institutional Investors Weigh In On First Northwest Bancorp

Large investors have recently added to or reduced their stakes in the business. Barclays PLC grew its stake in 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 acquiring an additional 2,568 shares during the last quarter. Pure Portfolios Holdings LLC acquired a new stake in First Northwest Bancorp in the 3rd quarter valued at about $353,000. Jacobs Levy Equity Management Inc. acquired a new stake in First Northwest Bancorp in the 3rd quarter valued at about $350,000. Finally, Fourthstone LLC grew its stake in 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 last quarter. 66.11% of the stock is owned by institutional investors and hedge funds.

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.