First Financial Northwest (FFNW) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of First Financial Northwest (NASDAQ:FFNW) from a buy rating to a hold rating in a research report sent to investors on Monday.

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. “

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Several other research firms also recently commented on FFNW. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $19.00 target price on shares of First Financial Northwest in a research report on Friday, December 22nd. FIG Partners raised First Financial Northwest from a market perform rating to an outperform rating in a research report on Monday, February 12th.

First Financial Northwest stock opened at $16.90 on Monday. First Financial Northwest has a 12 month low of $13.13 and a 12 month high of $17.91. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $181.97, a PE ratio of 18.99, a PEG ratio of 1.50 and a beta of 0.27.

First Financial Northwest (NASDAQ:FFNW) last posted its earnings results on Thursday, January 25th. The bank reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. First Financial Northwest had a return on equity of 6.53% and a net margin of 17.01%. The company had revenue of $10.60 million for the quarter, compared to the consensus estimate of $10.60 million. analysts anticipate that First Financial Northwest will post 1.13 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Thursday, March 8th. First Financial Northwest’s dividend payout ratio is currently 31.46%.

A number of large investors have recently modified their holdings of FFNW. The Manufacturers Life Insurance Company grew its position in First Financial Northwest by 40.9% during the second quarter. The Manufacturers Life Insurance Company now owns 8,988 shares of the bank’s stock worth $146,000 after buying an additional 2,611 shares in the last quarter. SG Americas Securities LLC acquired a new stake in First Financial Northwest during the third quarter worth approximately $181,000. Wells Fargo & Company MN grew its position in First Financial Northwest by 35.9% during the third quarter. Wells Fargo & Company MN now owns 16,885 shares of the bank’s stock worth $288,000 after buying an additional 4,463 shares in the last quarter. Bank of New York Mellon Corp grew its position in First Financial Northwest by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 84,025 shares of the bank’s stock worth $1,303,000 after buying an additional 9,348 shares in the last quarter. Finally, BlackRock Inc. grew its position in First Financial Northwest by 2.1% during the fourth quarter. BlackRock Inc. now owns 474,103 shares of the bank’s stock worth $7,353,000 after buying an additional 9,929 shares in the last quarter. 42.37% of the stock is currently owned by institutional investors and hedge funds.

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First Financial Northwest Company Profile

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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