First Northwest Bancorp (FNWB)
NASDAQ:FNWB
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First Northwest Bancorp
(NASDAQ:FNWB)
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Rating:48Neutral
Price Target:
$9.50
▼(-5.85% Downside)
Action:Reiterated
Date:05/22/26
The score is held down mainly by weak valuation (extremely high P/E) and an only partial financial recovery (improving TTM profitability and cash flow, but with revenue softness, high leverage, and historically volatile results). Technicals are neutral-to-slightly constructive, and the recent equity-plan approval is a modest, mixed corporate-event factor.
Positive Factors
Improved cash generation
TTM operating and free cash flow (~$19.9M) now comfortably cover net income, providing a durable buffer for loan loss absorption, funding operations, and discretionary uses. Sustained positive cash conversion improves liquidity and gives management scope to rebuild capital or invest, strengthening resilience over the next several quarters.
Negative Factors
Elevated leverage
Debt exceeding roughly 2x equity compresses capital cushions and heightens sensitivity to loan losses or funding shocks. For a regional bank, higher leverage constrains flexibility for lending growth, dividend policy, or stress absorption, increasing downside risk if credit conditions or rates deteriorate in the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
TTM operating and free cash flow (~$19.9M) now comfortably cover net income, providing a durable buffer for loan loss absorption, funding operations, and discretionary uses. Sustained positive cash conversion improves liquidity and gives management scope to rebuild capital or invest, strengthening resilience over the next several quarters.
Read all positive factors
First Northwest Bancorp (FNWB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$91.19M
Dividend Yield2.88%
Average Volume (3M)21.84K
Price to Earnings (P/E)3217.0
Beta (1Y)0.21
Revenue Growth-3.63%
EPS GrowthN/A
CountryUS
Employees227
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.55
Shares Outstanding9,499,300
10 Day Avg. Volume10,691
30 Day Avg. Volume21,836
Financial Highlights & Ratios
PEG Ratio0.59
Price to Book (P/B)0.57
Price to Sales (P/S)0.84
P/FCF Ratio62.73
Enterprise Value/Market Cap3.63
Enterprise Value/Revenue3.19
Enterprise Value/Gross Profit5.80
Enterprise Value/Ebitda76.34
Forecast
1Y Price Target
$13.50Price Target Upside33.80% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.38
Revenue Forecast (FY)$70.10M
First Northwest Bancorp Business Overview & Revenue Model
Company Description
First Northwest Bancorp operates as a bank holding company for First Fed Bank that provides commercial and consumer banking services to individuals, businesses, and nonprofit organizations in western Washington, the United States. It accepts vario...
How the Company Makes Money
FNWB makes money primarily through its banking subsidiary by earning interest income on loans and investments and by collecting fees for financial services. The core revenue engine is net interest income: the bank originates and holds loans (e.g.,...
First Northwest Bancorp Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
44
Neutral
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 103.94M | 107.19M | 117.03M | 104.92M | 90.70M | 79.31M |
| Gross Profit | 57.20M | 50.67M | 44.52M | 64.13M | 78.66M | 72.59M |
| EBITDA | 4.34M | -5.17M | -6.14M | 4.29M | 18.40M | 19.72M |
| Net Income | 4.85M | -4.19M | -6.61M | 2.29M | 15.64M | 15.42M |
Balance Sheet | ||||||
| Total Assets | 2.13B | 2.11B | 2.23B | 2.20B | 2.04B | 1.92B |
| Cash, Cash Equivalents and Short-Term Investments | 111.69M | 90.68M | 412.79M | 418.79M | 372.17M | 470.23M |
| Total Debt | 344.41M | 324.58M | 353.55M | 327.36M | 285.36M | 119.28M |
| Total Liabilities | 1.98B | 1.95B | 2.08B | 2.04B | 1.88B | 1.73B |
| Stockholders Equity | 156.97M | 157.26M | 153.88M | 163.34M | 161.57M | 190.96M |
Cash Flow | ||||||
| Free Cash Flow | 19.50M | 1.43M | 16.88M | 16.30M | 12.99M | 9.14M |
| Operating Cash Flow | 19.87M | 1.43M | 16.88M | 17.88M | 15.90M | 15.15M |
| Investing Cash Flow | 58.04M | 4.23M | -87.07M | -84.19M | -237.65M | -136.86M |
| Financing Cash Flow | -44.10M | 1.48M | 19.47M | 143.89M | 141.32M | 182.57M |
First Northwest Bancorp Technical Analysis
Positive
10.09
Price Trends
9.50
Positive
9.70
Positive
9.12
Positive
Market Momentum
-0.02
Positive
53.23
Neutral
74.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FNWB, the sentiment is Positive. The current price of 10.09 is above the 20-day moving average (MA) of 9.71, above the 50-day MA of 9.50, and above the 200-day MA of 9.12, indicating a bullish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 53.23 is Neutral, neither overbought nor oversold. The STOCH value of 74.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FNWB.
First Northwest Bancorp Risk Analysis
First Northwest Bancorp disclosed 33 risk factors in its most recent earnings report. First Northwest Bancorp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
First Northwest Bancorp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $103.36M | 8.43 | 14.13% | 2.18% | 5.49% | 66.01% | |
72 Outperform | $88.52M | 11.25 | 5.92% | 2.08% | 3.98% | -20.75% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $90.53M | 13.45 | 5.95% | ― | -5.51% | ― | |
63 Neutral | $84.23M | 10.94 | 11.80% | 6.51% | 7.19% | 9.14% | |
54 Neutral | $89.91M | 10.02 | -7.66% | ― | 2.16% | -1083.24% | |
48 Neutral | $91.19M | 3,217.02 | 3.14% | 2.88% | -3.63% | ― |
* Financial Sector Average
FNWB
First Northwest Bancorp
9.77
0.86
9.65%
BOTJ
Bank Of The Jame Financial
22.84
8.89
63.69%
BYFC
Broadway Financial
9.40
3.24
52.60%
SSBI
Summit State Bank
13.61
3.82
39.02%
UBCP
United Bancorp
14.55
1.73
13.51%
FUSB
First US Bancshares
16.00
3.51
28.08%
First Northwest Bancorp Corporate Events
Business Operations and StrategyShareholder Meetings
First Northwest Bancorp Shareholders Approve Amended Equity Plan
Positive
May 22, 2026
At its May 19, 2026 annual meeting, First Northwest Bancorp shareholders approved an amended and restated 2020 Equity Incentive Plan that increases the share pool for equity awards from 520,000 to 820,000 and modernizes plan terms, including gover...
Financial DisclosuresRegulatory Filings and Compliance
First Northwest Bancorp Provides First-Quarter 2026 Investor Update
Neutral
May 4, 2026
On May 4, 2026, First Northwest Bancorp released an investor slide presentation reviewing its financial results and trends for the quarter and three months ended March 31, 2026. The materials were made available as an exhibit to a current report, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.