First Northwest Bancorp (FNWB) Announces Earnings Results

First Northwest Bancorp (NASDAQ:FNWB) announced its quarterly earnings results on Thursday. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, Bloomberg Earnings reports. The company had revenue of $10.16 million for the quarter. First Northwest Bancorp had a net margin of 11.91% and a return on equity of 2.83%.

Shares of First Northwest Bancorp (NASDAQ FNWB) traded up 0.89% during mid-day trading on Friday, reaching $17.00. 15,890 shares of the company’s stock were exchanged. First Northwest Bancorp has a 1-year low of $13.45 and a 1-year high of $17.76. The company’s 50 day moving average is $16.74 and its 200 day moving average is $16.74. The stock has a market capitalization of $186.58 million, a PE ratio of 36.96 and a beta of 0.47.

Separately, TheStreet upgraded shares of First Northwest Bancorp from a “c+” rating to a “b+” rating in a report on Friday, October 13th.

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First Northwest Bancorp announced that its Board of Directors has initiated a share repurchase plan on Friday, September 29th that authorizes the company to repurchase 1,170,000 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

A hedge fund recently raised its stake in First Northwest Bancorp stock. The Manufacturers Life Insurance Company raised its stake in shares of First Northwest Bancorp (NASDAQ:FNWB) by 7.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,267 shares of the financial services provider’s stock after purchasing an additional 719 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of First Northwest Bancorp worth $161,000 at the end of the most recent quarter. 46.92% of the stock is owned by institutional investors and hedge funds.

About First Northwest Bancorp

First Northwest Bancorp is the bank holding company for First Federal Savings and Loan Association of Port Angeles (the Bank). The Bank is a community-oriented financial institution primarily serving the North Olympic Peninsula region of Washington. The Bank offers a range of products and services focused on the lending and depository needs of the communities it serves.

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