First Financial Northwest, Inc. (FFNW) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of First Financial Northwest, Inc. (NASDAQ:FFNW) from a strong sell rating to a hold rating in a report issued on Friday.

According to Zacks, “FIRST FINANCIAL NORTHWEST, INC. is a Washington corporation headquartered in Renton, Washington. It is the parent company of First Savings Bank Northwest; a Washington chartered stock savings bank that was originally organized in 1923. The Company serves the Puget Sound Region of Washington that includes King, Snohomish and Pierce Counties, through its full-service banking office. The Company is part of the America’s Community Bankers NASDAQ Index. “

Shares of First Financial Northwest (NASDAQ:FFNW) opened at 15.19 on Friday. The stock has a market capitalization of $156.75 million, a PE ratio of 18.46 and a beta of 0.46. First Financial Northwest has a 52 week low of $12.58 and a 52 week high of $21.29. The company’s 50 day moving average is $16.29 and its 200-day moving average is $18.10.

First Financial Northwest (NASDAQ:FFNW) last announced its quarterly earnings results on Thursday, April 27th. The bank reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.01. First Financial Northwest had a return on equity of 5.45% and a net margin of 20.05%. The company had revenue of $9.40 million during the quarter, compared to the consensus estimate of $9.89 million. On average, equities analysts predict that First Financial Northwest will post $0.94 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, June 9th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.84%. This is a positive change from First Financial Northwest’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, June 7th. First Financial Northwest’s payout ratio is 31.58%.

A number of hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC raised its stake in shares of First Financial Northwest by 5.3% in the first quarter. Parametric Portfolio Associates LLC now owns 15,874 shares of the bank’s stock valued at $280,000 after buying an additional 804 shares during the period. Acrospire Investment Management LLC raised its stake in shares of First Financial Northwest by 12.8% in the first quarter. Acrospire Investment Management LLC now owns 7,214 shares of the bank’s stock valued at $127,000 after buying an additional 821 shares during the period. Bank of New York Mellon Corp raised its stake in shares of First Financial Northwest by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 71,978 shares of the bank’s stock valued at $1,272,000 after buying an additional 2,562 shares during the period. Algert Global LLC raised its stake in shares of First Financial Northwest by 10.9% in the first quarter. Algert Global LLC now owns 21,847 shares of the bank’s stock valued at $386,000 after buying an additional 2,156 shares during the period. Finally, Numeric Investors LLC raised its stake in shares of First Financial Northwest by 864.2% in the fourth quarter. Numeric Investors LLC now owns 143,704 shares of the bank’s stock valued at $2,837,000 after buying an additional 128,800 shares during the period. Institutional investors own 39.06% of the company’s stock.

First Financial Northwest Company Profile

First Financial Northwest, Inc (First Financial Northwest) is a holding company for First Financial Northwest Bank (the Bank). The Bank primarily serves the greater Puget Sound region of King and to a lesser extent, Pierce, Snohomish and Kitsap Counties, Washington through its full-service banking office located in Renton, Washington and branch office in Mill Creek, Washington.

5 Day Chart for NASDAQ:FFNW

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