Zacks Investment Research Upgrades First Financial Northwest (NASDAQ:FFNW) to Buy

First Financial Northwest (NASDAQ:FFNW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Zacks.com reports. The firm presently has a $17.00 price objective on the bank’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.68% from the company’s current price.

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 NASDAQ:FFNW opened at $15.36 on Monday. The firm has a fifty day moving average price of $14.92 and a two-hundred day moving average price of $14.47. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.08 and a quick ratio of 1.08. First Financial Northwest has a one year low of $13.20 and a one year high of $17.24. The company has a market cap of $152.90 million, a price-to-earnings ratio of 14.91 and a beta of 0.21.

First Financial Northwest (NASDAQ:FFNW) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. First Financial Northwest had a net margin of 16.26% and a return on equity of 6.75%. The firm had revenue of $11.22 million during the quarter, compared to the consensus estimate of $10.80 million. Equities research analysts expect that First Financial Northwest will post 1 EPS for the current fiscal year.

In other First Financial Northwest news, CEO Joseph W. Kiley III sold 3,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.07, for a total value of $45,210.00. Following the completion of the transaction, the chief executive officer now directly owns 24,365 shares of the company’s stock, valued at approximately $367,180.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.87% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in First Financial Northwest by 4.6% in the second quarter. BlackRock Inc. now owns 907,160 shares of the bank’s stock worth $12,836,000 after purchasing an additional 39,495 shares during the last quarter. Northern Trust Corp lifted its stake in First Financial Northwest by 3.1% in the second quarter. Northern Trust Corp now owns 100,960 shares of the bank’s stock worth $1,428,000 after purchasing an additional 2,992 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in First Financial Northwest by 2,387.8% in the third quarter. Russell Investments Group Ltd. now owns 19,902 shares of the bank’s stock worth $294,000 after purchasing an additional 19,102 shares during the last quarter. First Trust Advisors LP lifted its stake in First Financial Northwest by 13.7% in the third quarter. First Trust Advisors LP now owns 16,234 shares of the bank’s stock worth $240,000 after purchasing an additional 1,957 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in First Financial Northwest by 11.3% in the third quarter. Rhumbline Advisers now owns 12,302 shares of the bank’s stock worth $182,000 after purchasing an additional 1,252 shares during the last quarter. 44.01% of the stock is owned by institutional investors.

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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