Zacks: First Financial Northwest, Inc. (NASDAQ:FFNW) Receives Average Recommendation of “Hold” from Brokerages

Shares of First Financial Northwest, Inc. (NASDAQ:FFNW) have been assigned a consensus broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating.

Brokers have set a 12-month consensus price target of $18.50 for the company and are expecting that the company will post $0.25 EPS for the current quarter, according to Zacks. Zacks has also assigned First Financial Northwest an industry rank of 237 out of 256 based on the ratings given to its competitors.

FFNW has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of First Merchants from a “hold” rating to a “sell” rating in a research note on Monday, July 1st. ValuEngine raised shares of WPP from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th.

In related news, Director Kevin D. Padrick bought 6,489 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were bought at an average price of $15.05 per share, for a total transaction of $97,659.45. Following the transaction, the director now directly owns 52,231 shares of the company’s stock, valued at $786,076.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin D. Padrick bought 17,540 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were bought at an average price of $15.05 per share, for a total transaction of $263,977.00. Following the transaction, the director now directly owns 66,934 shares in the company, valued at $1,007,356.70. The disclosure for this purchase can be found here. 6.87% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in FFNW. BlackRock Inc. raised its holdings in First Financial Northwest by 1.8% during the fourth quarter. BlackRock Inc. now owns 910,159 shares of the bank’s stock worth $14,081,000 after buying an additional 16,426 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in First Financial Northwest by 1.6% during the fourth quarter. Bank of New York Mellon Corp now owns 96,182 shares of the bank’s stock worth $1,488,000 after buying an additional 1,531 shares during the last quarter. Geode Capital Management LLC raised its holdings in First Financial Northwest by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 83,040 shares of the bank’s stock worth $1,284,000 after buying an additional 3,501 shares during the last quarter. Northern Trust Corp raised its holdings in First Financial Northwest by 3.0% during the fourth quarter. Northern Trust Corp now owns 98,452 shares of the bank’s stock worth $1,523,000 after buying an additional 2,871 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in First Financial Northwest by 23.3% during the first quarter. Acadian Asset Management LLC now owns 60,308 shares of the bank’s stock worth $949,000 after buying an additional 11,400 shares during the last quarter. Institutional investors own 45.41% of the company’s stock.

FFNW traded up $0.34 during trading on Wednesday, reaching $14.29. 6,596 shares of the company’s stock were exchanged, compared to its average volume of 15,539. First Financial Northwest has a one year low of $13.26 and a one year high of $20.57. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $146.09 million, a PE ratio of 9.99, a PEG ratio of 2.12 and a beta of 0.23. The stock has a fifty day moving average price of $14.44.

First Financial Northwest (NASDAQ:FFNW) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.05). First Financial Northwest had a net margin of 16.87% and a return on equity of 6.53%. The firm had revenue of $10.55 million during the quarter, compared to the consensus estimate of $11.28 million. As a group, equities research analysts anticipate that First Financial Northwest will post 0.95 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, June 6th. This is an increase from First Financial Northwest’s previous quarterly dividend of $0.08. First Financial Northwest’s payout ratio is presently 25.17%.

About First Financial Northwest

First Financial Northwest, Inc operates as the 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 deposit accounts, statement savings accounts, and certificates of deposit.

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