DA Davidson Brokers Reduce Earnings Estimates for First Financial Northwest, Inc. (NASDAQ:FFNW)

Posted by Defense World Staff on Apr 7th, 2023

First Financial Northwest, Inc. (NASDAQ:FFNW – Get Rating) – DA Davidson reduced their Q1 2023 earnings per share (EPS) estimates for First Financial Northwest in a report released on Wednesday, April 5th. DA Davidson analyst J. Rulis now anticipates that the bank will post earnings of $0.29 per share for the quarter, down from their previous forecast of $0.30. The consensus estimate for First Financial Northwest’s current full-year earnings is $1.17 per share. DA Davidson also issued estimates for First Financial Northwest’s FY2023 earnings at $1.10 EPS and FY2024 earnings at $1.10 EPS.

First Financial Northwest Stock Performance

FFNW stock opened at $12.61 on Thursday. The business has a 50-day moving average price of $14.40 and a 200 day moving average price of $14.77. First Financial Northwest has a 1-year low of $11.99 and a 1-year high of $17.51. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $115.36 million, a P/E ratio of 8.70 and a beta of 0.39.

First Financial Northwest (NASDAQ:FFNW – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The bank reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). The firm had revenue of $13.16 million during the quarter, compared to the consensus estimate of $13.80 million. First Financial Northwest had a net margin of 21.19% and a return on equity of 8.37%.

Hedge Funds Weigh In On First Financial Northwest

Several institutional investors and hedge funds have recently added to or reduced their stakes in FFNW. Vanguard Group Inc. grew its stake in First Financial Northwest by 1.2% in the first quarter. Vanguard Group Inc. now owns 347,649 shares of the bank’s stock valued at $5,948,000 after purchasing an additional 4,255 shares during the last quarter. UBS Group AG grew its stake in First Financial Northwest by 213.0% in the second quarter. UBS Group AG now owns 1,800 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,225 shares during the last quarter. State Street Corp grew its stake in First Financial Northwest by 20.5% in the second quarter. State Street Corp now owns 28,815 shares of the bank’s stock valued at $448,000 after purchasing an additional 4,900 shares during the last quarter. Royal Bank of Canada grew its stake in shares of First Financial Northwest by 13.6% during the third quarter. Royal Bank of Canada now owns 10,000 shares of the bank’s stock worth $148,000 after acquiring an additional 1,200 shares during the last quarter. Finally, M3F Inc. purchased a new stake in shares of First Financial Northwest during the third quarter worth about $278,000. Hedge funds and other institutional investors own 40.45% of the company’s stock.

First Financial Northwest Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Tuesday, March 14th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Monday, March 13th. This is a positive change from First Financial Northwest’s previous quarterly dividend of $0.12. First Financial Northwest’s payout ratio is 35.86%.

First Financial Northwest Company Profile

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First Financial Northwest, Inc is a bank holding company, which engages in the provision of commercial banking services. It offers dynamic savings, stored savings, loaned savings, commercial savings, checking accounts, and money market accounts. The company was founded on June 1, 2007 and is headquartered in Renton, WA.