Streetbeat News

FFNW

First Financial Northwest, Inc.

https://www.ffnwb.com

Industry

Banks - Regional

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. The company also provides wealth management services; and online banking platform, as well as debit cards and ATMs. As of December 31, 2021, it operated seven retail branches in King County, five retail branches in Snohomish County, and two retail branches in Pierce County, Washington. First Financial Northwest, Inc. was founded in 1923 and is headquartered in Renton, Washington.

Open

22.15

Mkt cap

206M

Volume

21K

High

22.30

P/E Ratio

185.67

52-wk high

23.50

Low

22.15

Div yield

0.02

52-wk low

10.95

TechTarget, Inc. (TTGT) shares rose by 14.4% after announcing a strategic combination with Informa Tech's digital businesses. Other stocks experienced significant movements in Thursday's mid-day session, with various companies reporting acquisitions, financial results, and other business updates. Notably, First Financial Northwest, Inc. (FFNW) surged 53% due to an acquisition announcement, and Transphorm, Inc. (TGAN) jumped 25.3% after a buyout offer. Crypto-related stocks like Canaan Inc. (CAN) and Stronghold Digital Mining, Inc. (SDIG) also rose after the SEC approved the listing and trading of spot Bitcoin ETFs. Conversely, several companies saw their shares fall, such as Clearmind Medicine Inc. (CMND), Office Properties Income Trust (OPI), and Plug Power Inc. (PLUG), which was downgraded by an analyst.

Portfolio Pulse from Avi Kapoor

January 11, 2024 | 6:32 pm

U.S. stocks traded lower, with the Dow Jones falling over 200 points. Energy shares rose by 0.5%, while utilities fell by 1.9%. U.S. consumer prices increased by 0.3% in December, with annual inflation at 3.4%. First Financial Northwest (FFNW) spiked 49% after Global Credit Union's acquisition plans. SEALSQ Corp (LAES) surged 29% on strong FY23 revenue. Transphorm (TGAN) gained 26% after Renesas Electronics' acquisition plans. Clearmind Medicine (CMND), YanGuFang International (YGF), and Office Properties Income Trust (OPI) saw significant share price drops.

Portfolio Pulse from Avi Kapoor

January 11, 2024 | 5:11 pm

First Financial Northwest Inc (NASDAQ:FFNW) stock surged 49% to $20.40 after announcing an all-cash acquisition agreement with Global Federal Credit Union for $231.2 million. Shareholders are expected to receive approximately $23.18 to $23.75 per share upon liquidation. The deal, approved by both boards, aims to expand Global's services and is set to complete in Q4 2024, pending regulatory and shareholder approvals.

Portfolio Pulse from Henry Khederian

January 11, 2024 | 3:58 pm

First Financial Northwest, Inc. (FFNW) shares have risen following the announcement that its subsidiary, First Financial Northwest Bank, will be acquired by Global Credit Union. This acquisition is expected to have a positive impact on FFNW's stock price in the short term as acquisitions often lead to increased investor confidence and potential synergies.