First Financial Northwest (NASDAQ:FFNW) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of First Financial Northwest (NASDAQ:FFNWGet Rating) from a hold rating to a strong-buy rating in a report published on Thursday morning, Zacks.com reports. The firm currently has $20.00 target price on the bank’s stock.

According to Zacks, “First Financial Northwest, Inc. is the parent company of First Financial Northwest Bank; an FDIC insured Washington State-chartered commercial bank headquartered in Renton, Washington, serving the Puget Sound Region through 14 full-service banking offices. “

First Financial Northwest stock traded down $0.08 during midday trading on Thursday, hitting $16.97. 2,653 shares of the company’s stock were exchanged, compared to its average volume of 6,047. First Financial Northwest has a 12 month low of $13.40 and a 12 month high of $17.95. The company has a market cap of $154.60 million, a PE ratio of 12.21 and a beta of 0.45. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a 50-day moving average of $17.00 and a two-hundred day moving average of $16.78.

First Financial Northwest (NASDAQ:FFNWGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The bank reported $0.36 EPS for the quarter, beating the consensus estimate of $0.27 by $0.09. First Financial Northwest had a net margin of 22.77% and a return on equity of 8.12%. As a group, equities analysts expect that First Financial Northwest will post 1.28 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.83%. This is a positive change from First Financial Northwest’s previous quarterly dividend of $0.11. The ex-dividend date was Thursday, March 10th. First Financial Northwest’s payout ratio is 34.53%.

A number of institutional investors and hedge funds have recently made changes to their positions in FFNW. River Oaks Capital LLC purchased a new position in shares of First Financial Northwest during the 4th quarter worth $31,000. Barclays PLC raised its holdings in shares of First Financial Northwest by 245.0% during the 3rd quarter. Barclays PLC now owns 2,332 shares of the bank’s stock worth $38,000 after acquiring an additional 1,656 shares during the period. Morgan Stanley raised its holdings in shares of First Financial Northwest by 55.2% during the 1st quarter. Morgan Stanley now owns 11,231 shares of the bank’s stock worth $160,000 after acquiring an additional 3,994 shares during the period. RSM US Wealth Management LLC raised its holdings in shares of First Financial Northwest by 16.2% during the 4th quarter. RSM US Wealth Management LLC now owns 14,458 shares of the bank’s stock worth $234,000 after acquiring an additional 2,016 shares during the period. Finally, Seizert Capital Partners LLC raised its holdings in shares of First Financial Northwest by 2.9% during the 1st quarter. Seizert Capital Partners LLC now owns 60,890 shares of the bank’s stock worth $1,042,000 after acquiring an additional 1,695 shares during the period. 49.13% of the stock is currently owned by institutional investors.

About First Financial Northwest (Get Rating)

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

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