First Financial Northwest (NASDAQ:FFNW) Stock Rating Lowered by Piper Sandler

Piper Sandler cut shares of First Financial Northwest (NASDAQ:FFNW) from an overweight rating to a neutral rating in a research note issued to investors on Friday, Marketbeat reports. Piper Sandler currently has $23.50 price target on the bank’s stock.

First Financial Northwest Stock Performance

Shares of NASDAQ:FFNW opened at $21.86 on Friday. First Financial Northwest has a 52 week low of $10.09 and a 52 week high of $22.48. The stock has a market capitalization of $200.46 million, a P/E ratio of 66.24 and a beta of 0.54. The firm has a fifty day simple moving average of $21.30 and a two-hundred day simple moving average of $20.89. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.72.

First Financial Northwest (NASDAQ:FFNW) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.13. First Financial Northwest had a net margin of 3.89% and a return on equity of 1.98%. The business had revenue of $19.99 million during the quarter, compared to analysts’ expectations of $9.60 million. On average, analysts expect that First Financial Northwest will post 0.25 earnings per share for the current fiscal year.

First Financial Northwest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.13 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.38%. First Financial Northwest’s payout ratio is currently 157.58%.

Institutional Investors Weigh In On First Financial Northwest

Several institutional investors have recently made changes to their positions in FFNW. Black Maple Capital Management LP lifted its holdings in shares of First Financial Northwest by 86.1% in the 4th quarter. Black Maple Capital Management LP now owns 97,183 shares of the bank’s stock worth $1,310,000 after acquiring an additional 44,952 shares during the last quarter. Strategic Value Bank Partners LLC lifted its holdings in shares of First Financial Northwest by 6.4% in the 4th quarter. Strategic Value Bank Partners LLC now owns 503,567 shares of the bank’s stock worth $6,788,000 after acquiring an additional 30,468 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of First Financial Northwest by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 368,446 shares of the bank’s stock worth $7,575,000 after acquiring an additional 21,447 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of First Financial Northwest by 45.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 63,223 shares of the bank’s stock worth $1,336,000 after acquiring an additional 19,670 shares during the last quarter. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of First Financial Northwest in the 2nd quarter worth about $411,000. Institutional investors own 55.00% of the company’s stock.

First Financial Northwest Company Profile

First Financial Northwest, Inc operates as the bank holding company for First Financial Northwest Bank that provides commercial banking services in Washington. The company offers a range of deposit products, including noninterest-bearing accounts, interest-bearing demand accounts, money market accounts, savings accounts, and certificates of deposit.