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FFNW

First Financial Northwest NasdaqGS:FFNW Stock Report

Last Price

US$15.45

Market Cap

US$138.8m

7D

-0.6%

1Y

2.2%

Updated

01 Jul, 2022

Data

Company Financials +
FFNW fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance5/6
Financial Health6/6
Dividends3/6

FFNW Stock Overview

First Financial Northwest, Inc. operates as the bank holding company for First Financial Northwest Bank that provides commercial banking services in Washington.

First Financial Northwest Competitors

Price History & Performance

Summary of all time highs, changes and price drops for First Financial Northwest
Historical stock prices
Current Share PriceUS$15.45
52 Week HighUS$17.95
52 Week LowUS$14.29
Beta0.45
1 Month Change-7.71%
3 Month Change-10.12%
1 Year Change2.18%
3 Year Change10.99%
5 Year Change-11.66%
Change since IPO31.71%

Recent News & Updates

May 20
First Financial Northwest (NASDAQ:FFNW) Has Announced A Dividend Of US$0.12

First Financial Northwest (NASDAQ:FFNW) Has Announced A Dividend Of US$0.12

First Financial Northwest, Inc. ( NASDAQ:FFNW ) has announced that it will pay a dividend of US$0.12 per share on the...

Shareholder Returns

FFNWUS BanksUS Market
7D-0.6%-1.9%-2.5%
1Y2.2%-18.3%-21.2%

Return vs Industry: FFNW exceeded the US Banks industry which returned -20.1% over the past year.

Return vs Market: FFNW exceeded the US Market which returned -21.7% over the past year.

Price Volatility

Is FFNW's price volatile compared to industry and market?
FFNW volatility
FFNW Average Weekly Movement2.7%
Banks Industry Average Movement3.8%
Market Average Movement8.1%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market3.2%

Stable Share Price: FFNW is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: FFNW's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1923144Joe Kileyhttps://www.ffnwb.com

First Financial Northwest, Inc. operates as the bank holding company for First Financial Northwest Bank that provides commercial banking services in Washington. The company offers a range of deposit products, including noninterest bearing accounts, interest-bearing demand accounts, money market accounts, statement savings accounts, and certificates of deposit. Its loan products comprise one-to-four family residential loans; multifamily and commercial real estate loans; construction/land loans for the construction of single-family residences, condominiums, townhouses, multifamily properties, and residential developments; business loans; and consumer loans, such as home equity loans and savings account loans.

First Financial Northwest Fundamentals Summary

How do First Financial Northwest's earnings and revenue compare to its market cap?
FFNW fundamental statistics
Market CapUS$138.83m
Earnings (TTM)US$12.95m
Revenue (TTM)US$49.99m

10.7x

P/E Ratio

0.9x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FFNW income statement (TTM)
RevenueUS$49.99m
Cost of RevenueUS$0
Gross ProfitUS$49.99m
Other ExpensesUS$37.04m
EarningsUS$12.95m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.44
Gross Margin100.00%
Net Profit Margin25.91%
Debt/Equity Ratio60.2%

How did FFNW perform over the long term?

See historical performance and comparison

Dividends

3.1%

Current Dividend Yield

32%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is FFNW undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FFNW?

Other financial metrics that can be useful for relative valuation.

FFNW key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio-9.6x

Price to Earnings Ratio vs Peers

How does FFNW's PE Ratio compare to its peers?

FFNW PE Ratio vs Peers
The above table shows the PE ratio for FFNW vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average9.7x
ADKT Adirondack Trust
9.9xn/aUS$142.2m
CHBH Croghan Bancshares
9xn/aUS$133.9m
MBCN Middlefield Banc
8x18.1%US$147.1m
OVBC Ohio Valley Banc
12xn/aUS$147.9m
FFNW First Financial Northwest
10.7x-1.1%US$138.8m

Price-To-Earnings vs Peers: FFNW is expensive based on its Price-To-Earnings Ratio (10.7x) compared to the peer average (9.7x).


Price to Earnings Ratio vs Industry

How does FFNW's PE Ratio compare vs other companies in the US Banks Industry?

Price-To-Earnings vs Industry: FFNW is expensive based on its Price-To-Earnings Ratio (10.7x) compared to the US Banks industry average (9.5x)


Price to Earnings Ratio vs Fair Ratio

What is FFNW's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FFNW PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.7x
Fair PE Ratio10x

Price-To-Earnings vs Fair Ratio: FFNW is expensive based on its Price-To-Earnings Ratio (10.7x) compared to the estimated Fair Price-To-Earnings Ratio (10x).


Share Price vs Fair Value

What is the Fair Price of FFNW when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FFNW ($15.45) is trading below our estimate of fair value ($21.07)

Significantly Below Fair Value: FFNW is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: FFNW's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Discover undervalued companies

Future Growth

How is First Financial Northwest forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-1.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FFNW's earnings are forecast to decline over the next 3 years (-1.1% per year).

Earnings vs Market: FFNW's earnings are forecast to decline over the next 3 years (-1.1% per year).

High Growth Earnings: FFNW's earnings are forecast to decline over the next 3 years.

Revenue vs Market: FFNW's revenue (2.4% per year) is forecast to grow slower than the US market (8.2% per year).

High Growth Revenue: FFNW's revenue (2.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FFNW's Return on Equity is forecast to be low in 3 years time (7.2%).


Discover growth companies

Past Performance

How has First Financial Northwest performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


0.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FFNW has high quality earnings.

Growing Profit Margin: FFNW's current net profit margins (25.9%) are higher than last year (21.3%).


Past Earnings Growth Analysis

Earnings Trend: FFNW's earnings have grown by 0.2% per year over the past 5 years.

Accelerating Growth: FFNW's earnings growth over the past year (38.6%) exceeds its 5-year average (0.2% per year).

Earnings vs Industry: FFNW earnings growth over the past year (38.6%) exceeded the Banks industry 20.7%.


Return on Equity

High ROE: FFNW's Return on Equity (8.2%) is considered low.


Discover strong past performing companies

Financial Health

How is First Financial Northwest's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: FFNW's Assets to Equity ratio (9x) is low.

Allowance for Bad Loans: FFNW has a sufficient allowance for bad loans (8469%).

Low Risk Liabilities: 91% of FFNW's liabilities are made up of primarily low risk sources of funding.

Loan Level: FFNW has an appropriate level of Loans to Assets ratio (79%).

Low Risk Deposits: FFNW's Loans to Deposits ratio (98%) is appropriate.

Level of Bad Loans: FFNW has an appropriate level of bad loans (0%).


Discover healthy companies

Dividend

What is First Financial Northwest current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.11%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: FFNW's dividend (3.11%) is higher than the bottom 25% of dividend payers in the US market (1.61%).

High Dividend: FFNW's dividend (3.11%) is low compared to the top 25% of dividend payers in the US market (4.3%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, FFNW has been paying a dividend for less than 10 years.

Growing Dividend: FFNW's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (32%), FFNW's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FFNW's dividends in 3 years are forecast to be well covered by earnings (37.5% payout ratio).


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

9.3yrs

Average management tenure


CEO

Joe Kiley (66 yo)

8.75yrs

Tenure

US$935,794

Compensation

Mr. Joseph W. Kiley, III, also known as Joe, has been the Chief Executive Officer and President of First Financial Northwest, Inc. since September 1, 2013. Mr. Kiley has been the Chief Executive Officer an...


CEO Compensation Analysis

Compensation vs Market: Joe's total compensation ($USD935.79K) is about average for companies of similar size in the US market ($USD765.69K).

Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: FFNW's management team is seasoned and experienced (9.3 years average tenure).


Board Members

Experienced Board: FFNW's board of directors are considered experienced (6.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

First Financial Northwest, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: First Financial Northwest, Inc.
  • Ticker: FFNW
  • Exchange: NasdaqGS
  • Founded: 1923
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$138.831m
  • Shares outstanding: 8.99m
  • Website: https://www.ffnwb.com

Number of Employees


Location

  • First Financial Northwest, Inc.
  • 201 Wells Avenue South
  • Renton
  • Washington
  • 98057
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/01 00:00
End of Day Share Price2022/07/01 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.