Short Interest in First Financial Northwest, Inc. (NASDAQ:FFNW) Declines By 6.4%

First Financial Northwest, Inc. (NASDAQ:FFNW) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 184,600 shares, a decline of 6.4% from the August 15th total of 197,300 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average trading volume of 54,900 shares, the days-to-cover ratio is currently 3.4 days.

First Financial Northwest Stock Performance

Shares of NASDAQ:FFNW opened at $22.58 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.10. First Financial Northwest has a 12 month low of $10.09 and a 12 month high of $22.88. The company has a market capitalization of $207.15 million, a price-to-earnings ratio of 68.42 and a beta of 0.53. The firm’s 50-day moving average is $22.10 and its 200 day moving average is $21.23.

First Financial Northwest (NASDAQ:FFNW) last released its earnings results on Thursday, July 25th. The bank reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.13. First Financial Northwest had a return on equity of 1.98% and a net margin of 3.89%. The firm had revenue of $19.99 million for the quarter, compared to analysts’ expectations of $9.60 million. Research analysts predict that First Financial Northwest will post 0.27 EPS for the current year.

Hedge Funds Weigh In On First Financial Northwest

Several hedge funds have recently bought and sold shares of FFNW. Rhumbline Advisers bought a new stake in shares of First Financial Northwest during the second quarter worth $188,000. Commonwealth Equity Services LLC increased its stake in First Financial Northwest by 9.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 11,986 shares of the bank’s stock worth $253,000 after buying an additional 1,069 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in First Financial Northwest during the 2nd quarter valued at about $403,000. Clear Harbor Asset Management LLC bought a new stake in First Financial Northwest during the 2nd quarter valued at about $411,000. Finally, Black Maple Capital Management LP boosted its position in First Financial Northwest by 86.1% in the 4th quarter. Black Maple Capital Management LP now owns 97,183 shares of the bank’s stock valued at $1,310,000 after buying an additional 44,952 shares during the period. Institutional investors own 55.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FFNW. Piper Sandler lowered First Financial Northwest from an “overweight” rating to a “neutral” rating and set a $23.50 price objective for the company. in a research note on Friday, July 26th. StockNews.com lowered First Financial Northwest from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th.

About First Financial Northwest

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, savings accounts, and certificates of deposit.