First Financial Northwest, Inc. (NASDAQ:FFNW) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Friday.

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 First Financial Northwest (NASDAQ:FFNW) traded up 0.18% on Friday, reaching $16.40. 15,136 shares of the company traded hands. The company has a market capitalization of $169.23 million, a P/E ratio of 19.93 and a beta of 0.33. The firm’s 50 day moving average is $16.65 and its 200 day moving average is $17.67. First Financial Northwest has a one year low of $13.10 and a one year high of $21.29.

First Financial Northwest (NASDAQ:FFNW) last released its earnings results on Wednesday, July 26th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.04. First Financial Northwest had a net margin of 20.52% and a return on equity of 6.27%. The business had revenue of $9.73 million during the quarter, compared to the consensus estimate of $9.75 million. Analysts expect that First Financial Northwest will post $0.91 earnings per share for the current fiscal year.

First Financial Northwest declared that its board has initiated a share buyback plan on Monday, May 22nd that allows the company to repurchase 1,100,000 outstanding shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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In other First Financial Northwest news, Director Gary F. Faull sold 18,340 shares of First Financial Northwest stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $15.95, for a total value of $292,523.00. Following the transaction, the director now owns 101,478 shares in the company, valued at $1,618,574.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its position in First Financial Northwest by 1.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,635 shares of the bank’s stock worth $188,000 after buying an additional 112 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of First Financial Northwest by 5.3% in the first quarter. Parametric Portfolio Associates LLC now owns 15,874 shares of the bank’s stock worth $280,000 after buying an additional 804 shares during the last quarter. Acrospire Investment Management LLC raised its stake in shares of First Financial Northwest by 12.8% in the first quarter. Acrospire Investment Management LLC now owns 7,214 shares of the bank’s stock worth $127,000 after buying an additional 821 shares during the last quarter. Algert Global LLC raised its stake in shares of First Financial Northwest by 10.9% in the first quarter. Algert Global LLC now owns 21,847 shares of the bank’s stock worth $386,000 after buying an additional 2,156 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of First Financial Northwest by 3.9% in the first quarter. Geode Capital Management LLC now owns 62,518 shares of the bank’s stock worth $1,104,000 after buying an additional 2,350 shares during the last quarter. Hedge funds and other institutional investors own 44.46% of the company’s stock.

First Financial Northwest Company Profile

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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