In a recent transaction, Lynn Terwoerds, a director at First Northwest Bancorp (NASDAQ:FNWB), acquired shares of the company's common stock, signaling confidence in the financial institution. The purchase, which took place on May 1, 2024, involved 2,417 shares at a weighted average price of $15.3399, totaling approximately $24,991.
Investors often monitor insider transactions as they can provide insights into how the company's leadership perceives the financial health and future prospects of the business. In this case, the acquisition of nearly $25k in stock by a director may be interpreted as a positive sign.
The shares were bought in multiple transactions at prices that resulted in the stated weighted average, as noted in the filing's footnotes. The specific details of each individual purchase can be provided by Terwoerds upon request to either the SEC staff or a security holder of First Northwest Bancorp.
Following the purchase, Terwoerds's total ownership in the company includes 8,841 shares. This figure encompasses 2,149 unvested shares of restricted stock granted under the company's 2020 Equity Incentive Plan, with vesting set to begin on March 7, 2025, and 1,476 shares of restricted stock that will vest in full on the same date.
First Northwest Bancorp, headquartered in Port Angeles, Washington, operates as a savings institution and is not federally chartered. The company's stock trades on the NASDAQ under the ticker symbol FNWB.
This transaction was publicly disclosed as required by SEC regulations, and the document was signed by Allison R. Mahaney, Attorney-in-Fact for Lynn Terwoerds.
InvestingPro Insights
First Northwest Bancorp (NASDAQ:FNWB) director Lynn Terwoerds's recent stock purchase aligns with a broader perspective on the company's financial outlook. According to real-time data from InvestingPro, First Northwest Bancorp has a market capitalization of $89.4 million and a Price to Book ratio over the last twelve months as of Q1 2024 standing at a modest 0.56. Despite a challenging environment reflected by a revenue decline of -24.74% over the same period, the company maintains a dividend yield of 2.73%, which could be appealing for income-focused investors.
Two InvestingPro Tips highlight essential aspects of the company's current situation. Firstly, the stock is currently trading near its 52-week low, which may catch the attention of value investors looking for potential upside. Secondly, analysts predict the company will be profitable this year, providing a positive outlook for those considering long-term investment.
For those interested in a deeper analysis, InvestingPro offers 9 additional tips on First Northwest Bancorp. To access these insights and make more informed investment decisions, visit https://www.investing.com/pro/FNWB. Plus, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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