First Northwest Bancorp (NASDAQ:FNWB) has reported a significant purchase of shares by director Dana D. Behar. According to the latest SEC filing, Behar acquired 80,000 shares of common stock at a price of $10.50 per share, totaling an investment of $840,000.
This transaction, which took place on May 10, 2024, has increased Behar's direct holdings in the company to 135,467 shares. The filing also notes that this total includes 19,852 shares owned jointly with Behar's spouse, 20,000 shares held in an IRA account, and 1,476 unvested shares of restricted stock. These restricted shares are part of the issuer's 2020 Equity Incentive Plan and are set to vest fully on March 7, 2025.
The purchase by Behar reflects a notable addition to their stake in First Northwest Bancorp, a savings institution not federally chartered, based in Port Angeles, Washington. For investors keeping track of insider transactions, such significant buys can often provide insights into the confidence levels that company executives and directors have in the firm's future prospects.
The filing was signed by Allison R. Mahaney, Attorney-in-Fact for Dana D. Behar, and was dated May 14, 2024.
InvestingPro Insights
Following the substantial share purchase by director Dana D. Behar at First Northwest Bancorp (NASDAQ:FNWB), the company's financial health and future profitability are of keen interest to investors. An analysis of recent data and metrics from InvestingPro provides a clearer picture of the company's current standing.
The company's market capitalization stands at $95.19 million, reflecting its valuation in the market. Despite the company's challenges, including weak gross profit margins and not being profitable over the last twelve months, there's a silver lining as analysts predict FNWB will turn profitable this year. This aligns with Behar's recent investment, potentially indicating an expectation of improved financial performance.
InvestingPro Tips highlight that FNWB has a high shareholder yield, which is an encouraging sign for investors looking for returns. However, it's worth noting that the stock price has experienced a significant decline over the last three months, with a 23.39% drop in total return. The company's P/E ratio is currently negative at -111.25, which is adjusted to -108.41 for the last twelve months as of Q1 2024, suggesting that earnings are not keeping pace with the stock price, a factor that investors should consider.
Yet, the company's dividend yield stands at an attractive 2.58%, with the last dividend having an ex-date of May 9, 2024. This could be a draw for income-focused investors, especially in light of the director's recent share purchase. Additionally, the company's fair value, as assessed by InvestingPro, is set at $10.23, slightly below the recent closing price of $10.6, indicating that the stock might be fairly valued at its current level.
InvestingPro offers even more insights and tips for FNWB, which could be invaluable for investors looking to make informed decisions. To explore these additional tips, visit https://www.investing.com/pro/FNWB and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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