First Financial Northwest, Inc. (NASDAQ:FFNW) Sees Large Decline in Short Interest

First Financial Northwest, Inc. (NASDAQ:FFNWGet Rating) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 25,100 shares, a decrease of 7.4% from the October 15th total of 27,100 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily volume of 5,900 shares, the short-interest ratio is currently 4.3 days.

Insider Activity at First Financial Northwest

In other First Financial Northwest news, VP Simon Soh sold 18,844 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $15.31, for a total value of $288,501.64. Following the sale, the vice president now owns 34,813 shares in the company, valued at approximately $532,987.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Financial Northwest

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG grew its stake in shares of First Financial Northwest by 213.0% in the 2nd quarter. UBS Group AG now owns 1,800 shares of the bank’s stock valued at $27,000 after buying an additional 1,225 shares during the period. Strategic Value Bank Partners LLC acquired a new stake in First Financial Northwest in the first quarter valued at approximately $127,000. Royal Bank of Canada raised its position 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 purchasing an additional 1,200 shares during the period. M3F Inc. bought a new position in shares of First Financial Northwest in the 3rd quarter worth $278,000. Finally, State Street Corp grew its position in First Financial Northwest by 20.5% in the 2nd 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 period. 39.45% of the stock is owned by institutional investors.

First Financial Northwest Trading Down 0.5 %

Shares of FFNW stock opened at $15.23 on Thursday. The company has a market cap of $139.02 million, a P/E ratio of 10.96 and a beta of 0.41. First Financial Northwest has a fifty-two week low of $14.62 and a fifty-two week high of $17.95. The stock has a 50 day simple moving average of $15.03 and a two-hundred day simple moving average of $15.56. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.02 and a current ratio of 1.02.

First Financial Northwest Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Thursday, December 1st. First Financial Northwest’s dividend payout ratio is presently 34.53%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FFNW shares. DA Davidson upped their price objective on shares of First Financial Northwest to $19.00 in a research note on Tuesday, November 1st. Piper Sandler cut their price target on shares of First Financial Northwest to $17.00 in a research report on Friday, September 30th.

About First Financial Northwest

(Get Rating)

First Financial Northwest, Inc operates as the bank holding company for First Financial Northwest Bank that provides commercial banking services in Washington. The company offers a range of deposit products, including noninterest bearing accounts, interest-bearing demand accounts, money market accounts, statement savings accounts, and certificates of deposit.

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