First Financial Northwest, Inc. (NASDAQ:FFNW) was the recipient of a significant increase in short interest in the month of April. As of April 28th, there was short interest totalling 63,207 shares, an increase of 6.2% from the April 13th total of 59,538 shares. Based on an average daily volume of 22,110 shares, the days-to-cover ratio is presently 2.9 days.
In other First Financial Northwest news, Director Gary F. Faull sold 18,340 shares of First Financial Northwest stock in a transaction on Friday, May 26th. The shares were sold at an average price of $15.95, for a total transaction of $292,523.00. Following the completion of the transaction, the director now directly owns 101,478 shares of the company’s stock, valued at $1,618,574.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 7.31% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of FFNW. Goldman Sachs Group Inc. boosted its position in First Financial Northwest by 118.4% in the first quarter. Goldman Sachs Group Inc. now owns 24,221 shares of the bank’s stock valued at $428,000 after buying an additional 13,131 shares in the last quarter. Renaissance Technologies LLC boosted its stake in First Financial Northwest by 11.9% in the first quarter. Renaissance Technologies LLC now owns 731,100 shares of the bank’s stock worth $12,919,000 after buying an additional 77,693 shares during the period. Geode Capital Management LLC boosted its stake in 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 period. Vanguard Group Inc. boosted its stake in First Financial Northwest by 4.8% in the first quarter. Vanguard Group Inc. now owns 345,256 shares of the bank’s stock worth $6,100,000 after buying an additional 15,700 shares during the period. Finally, Menta Capital LLC purchased a new stake in First Financial Northwest during the first quarter worth approximately $263,000. Hedge funds and other institutional investors own 44.46% of the company’s stock.
First Financial Northwest (FFNW) traded down 0.90% on Tuesday, reaching $16.47. The company had a trading volume of 19,936 shares. First Financial Northwest has a 12-month low of $12.58 and a 12-month high of $21.29. The stock has a market capitalization of $169.95 million, a P/E ratio of 20.01 and a beta of 0.36. The stock’s 50-day moving average price is $15.88 and its 200-day moving average price is $18.10.
First Financial Northwest (NASDAQ:FFNW) last posted its quarterly earnings results on Thursday, April 27th. The bank reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.01. First Financial Northwest had a return on equity of 6.27% and a net margin of 20.52%. The business had revenue of $9.40 million during the quarter, compared to analysts’ expectations of $9.89 million. On average, equities research analysts anticipate that First Financial Northwest will post $0.94 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Friday, June 9th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.70%. This is a boost from First Financial Northwest’s previous quarterly dividend of $0.06. First Financial Northwest’s payout ratio is currently 33.33%.
Separately, Zacks Investment Research cut shares of First Financial Northwest from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 2nd.
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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