First Northwest Bancorp price target lowered to $12 from $17 at Piper Sandler

Piper Sandler lowered the firm’s price target on First Northwest Bancorp to $12 from $17 and keeps a Neutral rating on the shares. While First Northwest Bancorp’s profitability was subdued Q1, the firm is encouraged by its ongoing balance sheet optimization initiatives to drive meaningful profitability improvement going forward. Piper remains positive on First Northwest Bancorp’s prospects to grow commercial market share across the Puget Sound, realize benefits from existing partnerships and its scarcity value in the region.