First Financial Northwest Inc. (NASDAQ:FFNW) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $16.00 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 10.73% 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. “

Several other analysts have also commented on the company. DA Davidson reaffirmed a “hold” rating and set a $15.00 target price on shares of First Financial Northwest in a report on Monday, August 15th. Sandler O’Neill started coverage on First Financial Northwest in a report on Wednesday, September 14th. They set a “buy” rating on the stock.

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Shares of First Financial Northwest (NASDAQ:FFNW) traded down 0.21% during mid-day trading on Tuesday, hitting $14.45. The stock had a trading volume of 29,822 shares. The firm has a 50 day moving average of $13.81 and a 200-day moving average of $13.56. First Financial Northwest has a one year low of $12.43 and a one year high of $14.63. The stock has a market cap of $179.04 million, a P/E ratio of 24.00 and a beta of 0.38.

First Financial Northwest (NASDAQ:FFNW) last posted its earnings results on Friday, July 22nd. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by $0.04. First Financial Northwest had a return on equity of 4.58% and a net margin of 19.42%. Equities research analysts expect that First Financial Northwest will post $0.61 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Wednesday, September 7th. First Financial Northwest’s payout ratio is currently 40.68%.

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management raised its stake in shares of First Financial Northwest by 22.6% in the fourth quarter. Acadian Asset Management now owns 64,917 shares of the company’s stock valued at $906,000 after buying an additional 11,948 shares during the last quarter. EJF Capital raised its stake in shares of First Financial Northwest by 6.0% in the third quarter. EJF Capital now owns 322,169 shares of the company’s stock valued at $3,895,000 after buying an additional 18,280 shares during the last quarter. Finally, Thomson Horstmann & Bryant acquired a new stake in shares of First Financial Northwest during the fourth quarter valued at approximately $4,153,000. 44.68% of the stock is currently owned by institutional investors.

About First Financial Northwest

First Financial Northwest, Inc (First Financial Northwest) is a holding company for First Financial Northwest Bank (the Bank). The Bank primarily serves the greater Puget Sound region of King and to a lesser extent, Pierce, Snohomish and Kitsap Counties, Washington through its full-service banking office located in Renton, Washington and branch office in Mill Creek, Washington.

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