Stock Mover of The Day: Is Buying 52-Week Stock Like First Northwest BanCorp a Winning Strategy?

Stock Mover of The Day: Is Buying 52 Week Stock Like First Northwest BanCorp a Winning Strategy?

The stock of First Northwest BanCorp (NASDAQ:FNWB) hit a new 52-week high and has $15.59 target or 3.00% above today’s $15.14 share price. The 7 months bullish chart indicates low risk for the $195.87M company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $15.59 price target is reached, the company will be worth $5.88M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 68,641 shares traded hands or 10.19% up from the average. First Northwest BanCorp (NASDAQ:FNWB) has risen 13.38% since April 28, 2016 and is uptrending. It has outperformed by 7.46% the S&P500.

Analysts await First Northwest BanCorp (NASDAQ:FNWB) to report earnings on January, 24.

According to Zacks Investment Research, “First Northwest Bancorp is the bank holding company for First Federal Savings and Loan Association of Port Angeles. It offers checking, savings, money market accounts; demand and NOW deposits, certificates of deposit, commercial lending products as well as electronic banking and online banking services. First Northwest Bancorp is based in Port Angeles, Washington.”

More important recent First Northwest BanCorp (NASDAQ:FNWB) news were published by: Globenewswire.com which released: “First Northwest Bancorp Announces Adoption of a Stock Repurchase Plan” on September 28, 2016, also Globenewswire.com published article titled: “First Northwest Bancorp Announces Retirement and Nomination of a Director”, Globenewswire.com published: “First Northwest Bancorp Announces Completion of Conversion and Stock Offering” on January 29, 2015. More interesting news about First Northwest BanCorp (NASDAQ:FNWB) was released by: Reuters.com and their article: “BRIEF-First northwest bancorp reports Q1 earnings per share $0.06” with publication date: October 25, 2016.

FNWB Company Profile

First Northwest Bancorp, incorporated on August 14, 2012, is the bank holding firm for First Federal Savings and Loan Association of Port Angeles (the Bank). The Bank is a community-oriented financial institution primarily serving the North Olympic Peninsula region of Washington. The Bank offers a range of services and products focused on the lending and depository needs of the communities it serves. The Bank provides commercial and consumer banking services to individuals and businesses located primarily on the Olympic Peninsula in the State of Washington. These services include deposit and lending transactions that are supplemented with borrowing and investing activities.

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