First Financial Northwest Rating Downgraded to Sell

First Financial Northwest (NASDAQ:FFNW) recently experienced a downgrade from research analysts at StockNews.com, who have lowered the company's rating from "hold" to "sell" in a research report published on Tuesday.

In a separate development, Piper Sandler also adjusted their stance on First Financial Northwest, changing their rating from "overweight" to "neutral." Additionally, they set a price target of $23.50 for the stock in their report dated July 26th.

Market Performance of First Financial Northwest

During trading on Tuesday, First Financial Northwest shares saw a minor decline of 0.4%, dropping by $0.10 to reach $22.66. The trading volume was 15,913 shares, significantly lower than the average of 39,443 shares. Currently, the company has a market capitalization of $207.88 million and a price-to-earnings (PE) ratio of 68.67. Its beta stands at 0.53, indicating lower volatility compared to the market. The debt-to-equity ratio is recorded at 1.10, while both the current and quick ratio are also at 1.10. The company's stock has a 50-day moving average price of $22.60 and a 200-day moving average price of $21.66. Over the past year, First Financial Northwest has seen a low of $10.78 and a peak of $23.50.

Changes in Institutional Investment

Recently, several institutional investors and hedge funds have adjusted their holdings in First Financial Northwest. Rhumbline Advisers established a new position in the company during the second quarter, valued at approximately $188,000. Commonwealth Equity Services LLC increased its stake by 9.8%, now holding 11,986 shares valued at $253,000 after acquiring an additional 1,069 shares. B.O.S.S. Retirement Advisors LLC also made a new investment, amounting to $312,000 in the third quarter. Furthermore, Skandinaviska Enskilda Banken AB provided approximately $403,000 towards a new position in the stock during the second quarter. Clear Harbor Asset Management LLC also invested around $411,000 in First Financial Northwest in the same period. Overall, institutional investors now own 55.00% of the company's shares.

About First Financial Northwest

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

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