$10.70 Million in Sales Expected for First Financial Northwest, Inc. (FFNW) This Quarter
Equities analysts expect that First Financial Northwest, Inc. (NASDAQ:FFNW) will report sales of $10.70 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for First Financial Northwest’s earnings, with the lowest sales estimate coming in at $10.59 million and the highest estimate coming in at $10.80 million. First Financial Northwest reported sales of $10.09 million during the same quarter last year, which would suggest a positive year over year growth rate of 6%. The firm is scheduled to report its next earnings results on Thursday, January 25th.
According to Zacks, analysts expect that First Financial Northwest will report full year sales of $10.70 million for the current year, with estimates ranging from $37.83 million to $40.10 million. For the next fiscal year, analysts expect that the firm will report sales of $43.94 million per share, with estimates ranging from $42.78 million to $45.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for First Financial Northwest.
First Financial Northwest (NASDAQ:FFNW) last announced its earnings results on Thursday, October 26th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.05). First Financial Northwest had a return on equity of 6.44% and a net margin of 18.74%. The firm had revenue of $10.11 million for the quarter, compared to analyst estimates of $10.15 million.
A number of research analysts recently commented on the stock. ValuEngine downgraded shares of First Financial Northwest from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of First Financial Northwest from a “hold” rating to a “strong sell” rating in a research report on Monday.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.65%. The ex-dividend date is Thursday, November 30th. First Financial Northwest’s dividend payout ratio is 32.18%.
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In other news, insider Gregg H. Deritis sold 4,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $16.03, for a total value of $64,120.00. Following the completion of the sale, the insider now directly owns 4,000 shares in the company, valued at $64,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph W. Kiley III sold 15,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $16.04, for a total transaction of $240,600.00. Following the completion of the sale, the insider now owns 44,250 shares of the company’s stock, valued at $709,770. The disclosure for this sale can be found here. Insiders sold 26,219 shares of company stock valued at $421,060 over the last 90 days. 7.31% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in FFNW. Renaissance Technologies LLC raised its stake in First Financial Northwest by 11.9% during the 1st quarter. Renaissance Technologies LLC now owns 731,100 shares of the bank’s stock valued at $12,919,000 after purchasing an additional 77,693 shares during the last quarter. LSV Asset Management acquired a new position in shares of First Financial Northwest in the 2nd quarter valued at $788,000. Brighton Jones LLC acquired a new position in shares of First Financial Northwest in the 2nd quarter valued at $270,000. Vanguard Group Inc. raised its stake in shares of First Financial Northwest by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 345,256 shares of the bank’s stock valued at $6,100,000 after buying an additional 15,700 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of First Financial Northwest by 64.8% in the 1st quarter. JPMorgan Chase & Co. now owns 35,309 shares of the bank’s stock valued at $624,000 after buying an additional 13,882 shares in the last quarter. Hedge funds and other institutional investors own 43.88% 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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