First Northwest Bancorp price target lowered to $11 from $12.50 at Piper Sandler

Piper Sandler lowered the firm’s price target on First Northwest Bancorp (FNWB) to $11 from $12.50 and keeps a Neutral rating on the shares. The firm notes that after the close Friday, First Northwest Bancorp released an 8-K announcing the identification of a material weakness in its Q2 financial results and the subsequent determination to recognize an additional $6.6M in NCOs.