First Northwest Bancorp Plans Quarterly Dividend of $0.07 (NASDAQ:FNWB)

First Northwest Bancorp (NASDAQ:FNWB – Get Rating) declared a quarterly dividend on Monday, May 2nd, Wall Street Journal reports. Stockholders of record on Friday, May 13th will be given a dividend of 0.07 per share by the financial services provider on Friday, May 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Thursday, May 12th.

First Northwest Bancorp has increased its dividend by an average of 102.7% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. First Northwest Bancorp has a dividend payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings.

Shares of NASDAQ:FNWB opened at $19.10 on Tuesday. The company has a market capitalization of $191 million, a PE ratio of 11.72 and a beta of 0.88. First Northwest Bancorp has a 1 year low of $16.21 and a 1 year high of $23.77. The stock has a fifty day simple moving average of $22.32. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.92 and a quick ratio of 0.92.

First Northwest Bancorp (NASDAQ:FNWB – Get Rating) last issued its quarterly earnings data on Friday, April 29th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.13). First Northwest Bancorp had a return on equity of 8.00% and a net margin of 18.58%.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in First Northwest Bancorp by 114.1% in the 4th quarter. BlackRock Inc. now owns 157,182 shares of the financial services provider’s stock worth $3,175,000 after purchasing an additional 83,770 shares during the period. Susquehanna International Group LLP boosted its stake in First Northwest Bancorp by 139.4% in the 4th quarter. Susquehanna International Group LLP now owns 25,309 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 14,739 shares during the period. Goldman Sachs Group Inc. acquired a new position in First Northwest Bancorp in the 4th quarter worth $202,000. The Manufacturers Life Insurance Company boosted its stake in First Northwest Bancorp by 2.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 221,478 shares of the financial services provider’s stock worth $4,480,000 after purchasing an additional 4,578 shares during the period. Finally, Morgan Stanley boosted its stake in First Northwest Bancorp by 52.5% in the 2nd quarter. Morgan Stanley now owns 8,158 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 2,807 shares during the period. 62.59% of the stock is owned by institutional investors.

A number of research analysts have recently issued reports on FNWB shares. Zacks Investment Research cut shares of First Northwest Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 30th. Piper Sandler raised shares of First Northwest Bancorp from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $19.50 to $24.00 in a report on Friday, January 28th. Finally, StockNews.com lowered shares of First Northwest Bancorp from a “buy” rating to a “hold” rating in a report on Monday.

About First Northwest Bancorp (Get Rating)

First Northwest Bancorp operates as a bank holding company for First Fed Bank that provides commercial and consumer banking services to individuals, businesses, and nonprofit organizations in western Washington, the United States. It accepts various deposit instruments, including checking, money market deposit, savings, and transaction accounts, as well as certificates of deposit.

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