First Financial Northwest, Inc. (FFNW) Downgraded by Zacks Investment Research to “Strong Sell”

Zacks Investment Research downgraded shares of First Financial Northwest, Inc. (NASDAQ:FFNW) from a hold rating to a strong sell rating in a report published on Monday.

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. “

Separately, ValuEngine lowered First Financial Northwest from a buy rating to a hold rating in a research report on Friday, September 1st.

First Financial Northwest (NASDAQ FFNW) traded up $0.16 on Monday, reaching $16.78. The company’s stock had a trading volume of 14,392 shares, compared to its average volume of 15,057. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.33. The company has a market cap of $182.23 million, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 2.00 and a beta of 0.33.

First Financial Northwest (NASDAQ:FFNW) last issued its quarterly earnings results on Thursday, October 26th. The bank reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $10.11 million during the quarter, compared to analyst estimates of $10.15 million. research analysts expect that First Financial Northwest will post 0.85 EPS for the current year.

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The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.28 annualized dividend and a yield of 1.67%. First Financial Northwest’s dividend payout ratio is presently 32.18%.

In other First Financial Northwest news, insider Joseph W. Kiley III sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $16.04, for a total value of $240,600.00. Following the sale, the insider now owns 44,250 shares in the company, valued at approximately $709,770. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gregg H. Deritis sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 4,000 shares in the company, valued at approximately $64,120. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,219 shares of company stock worth $421,060. Insiders own 7.31% of the company’s stock.

Several large investors have recently made changes to their positions in FFNW. The Manufacturers Life Insurance Company lifted its position in shares of First Financial Northwest by 40.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,988 shares of the bank’s stock valued at $146,000 after buying an additional 2,611 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of First Financial Northwest by 8.9% during the 2nd quarter. Teachers Advisors LLC now owns 15,244 shares of the bank’s stock valued at $246,000 after buying an additional 1,240 shares in the last quarter. Brighton Jones LLC purchased a new position in shares of First Financial Northwest during the 2nd quarter valued at approximately $270,000. Parametric Portfolio Associates LLC lifted its position in shares of First Financial Northwest by 5.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 15,874 shares of the bank’s stock valued at $280,000 after buying an additional 804 shares in the last quarter. Finally, Cigna Investments Inc. New lifted its position in shares of First Financial Northwest by 60.9% during the 2nd quarter. Cigna Investments Inc. New now owns 18,592 shares of the bank’s stock valued at $300,000 after buying an additional 7,038 shares in the last quarter. Hedge funds and other institutional investors own 43.88% of the company’s stock.

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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