Zacks Investment Research upgraded shares of First Financial Northwest, Inc. (NASDAQ:FFNW) from a strong sell rating to a hold rating in a research report report published on Friday, May 12th.
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) traded down 2.44% during mid-day trading on Friday, hitting $16.80. The stock had a trading volume of 58,183 shares. The firm has a market cap of $173.36 million, a PE ratio of 20.41 and a beta of 0.36. First Financial Northwest has a 52-week low of $12.58 and a 52-week high of $21.29. The firm has a 50 day moving average price of $15.86 and a 200 day moving average price of $18.08.
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 the consensus estimate of $0.23 by $0.01. First Financial Northwest had a net margin of 20.52% and a return on equity of 6.27%. The firm had revenue of $9.40 million during the quarter, compared to analyst estimates of $9.89 million. Equities analysts predict that First Financial Northwest will post $0.94 EPS 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 issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.67%. This is a boost from First Financial Northwest’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, June 7th. First Financial Northwest’s dividend payout ratio (DPR) is presently 33.33%.
In related news, Director Gary F. Faull sold 18,340 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $15.95, for a total value of $292,523.00. Following the completion of the transaction, the director now owns 101,478 shares of the company’s stock, valued at approximately $1,618,574.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.31% of the company’s stock.
Large investors have recently modified their holdings of 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 worth $280,000 after buying an additional 804 shares during the period. Acrospire Investment Management LLC increased its position in First Financial Northwest by 12.8% in the first quarter. Acrospire Investment Management LLC now owns 7,214 shares of the bank’s stock worth $127,000 after buying an additional 821 shares in the last quarter. Bank of New York Mellon Corp increased its position in 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 worth $1,272,000 after buying an additional 2,562 shares in the last quarter. Algert Global LLC increased its position in First Financial Northwest by 10.9% in the first quarter. Algert Global LLC now owns 21,847 shares of the bank’s stock worth $386,000 after buying an additional 2,156 shares in the last quarter. Finally, Numeric Investors LLC increased its position in First Financial Northwest by 864.2% in the fourth quarter. Numeric Investors LLC now owns 143,704 shares of the bank’s stock worth $2,837,000 after buying an additional 128,800 shares in the last quarter. 44.46% of the stock is owned by institutional investors.
About First Financial Northwest
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.
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