Stock Buybacks
By The Online Investor Staff, updated Thu., Aug. 18, 6:48 AM
| This Slide: #24 of 25 |
Slide #24. First Financial Northwest, Inc.
Company:
First Financial Northwest, Inc. (NASDAQ:FFNW)
Share Amount Authorized:
455,000
Buyback Details:
First Financial Northwest, Inc. (the "Company") (NASDAQ GS: FFNW), the holding company for First Financial Northwest Bank (the "Bank"), today announced that its Board of Directors has declared a quarterly cash dividend of $0.12 per share on the Company's outstanding common stock. The cash dividend will be payable on September 16, 2022, to shareholders of record on September 2, 2022. The Company also announced today that its Board of Directors approved an extension to the Company's existing stock repurchase plan to change the expiration date to September 16, 2022. There were no further changes to the plan. The previously announced plan authorizes the repurchase of up to 5.0% of the Company's outstanding common stock, or approximately 455,000 shares, on the open market or in privately negotiated transactions, in accordance with Rule 10b-18 of the Securities Exchange Act of 1934. The plan commenced on February 18, 2022, and was originally set to expire no later than August 17, 2022. At June 30, 2022, the Company had repurchased 34,643 shares at an average price of $16.83 per share and 420,357 shares remained available for purchase under the plan. The extent to which the Company repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations. As a result, there can be no assurance as to the exact number of shares, if any, that will be repurchased under the plan.
First Financial Northwest is a bank holding company. Through its subsidiary, First Financial Northwest Bank, Co. is a commercial bank that focuses on accepting deposits from the public and utilizing these funds to originate one-to-four family residential, multifamily, commercial real estate, construction/land, business and consumer loans. Co. considers its primary market area to be the Puget Sound Region that consists of King, Snohomish, Pierce and, to a lesser extent, Kitsap counties. Co. provides deposit products within its market area, including noninterest bearing accounts, interest-bearing demand accounts, money market accounts, statement savings accounts, and certificates of deposit. 
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Avg. Broker Rec.
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Strong Buy (4.00 out of 4) 89th percentile
(ranked higher than approx. 89% of all stocks covered)
Analysts' Target Price: FFNW Stock Forecast Based on Zacks ABR data; powered by Xignite |
