First Northern Community Bancorp (NASDAQ:FNRN) Stock Rating Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded First Northern Community Bancorp from “sell” to “hold,” while Weiss Ratings raised its rating from “buy (b)” to “buy (b+).” MarketBeat reports a consensus “Buy” rating from one analyst.
• The stock opened at $17.30 and has a market capitalization of about $281.8 million. In its latest reported quarter, the company posted earnings of $0.38 per share on $21 million in revenue.
• Insiders sold 8,500 shares worth about $144,315 over the past three months. Institutional investors and hedge funds own 17.86% of the company, with several increasing their holdings.

First Northern Community Bancorp (NASDAQ:FNRN - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded First Northern Community Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has a consensus rating of "Buy".

First Northern Community Bancorp Stock Up 1.8%

First Northern Community Bancorp stock opened at $17.30 on Friday. The company has a 50 day moving average of $17.11. First Northern Community Bancorp has a 1 year low of $13.05 and a 1 year high of $19.25. The stock has a market cap of $281.82 million, a P/E ratio of 12.60 and a beta of 0.04.

First Northern Community Bancorp (NASDAQ:FNRN - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.38 earnings per share for the quarter. First Northern Community Bancorp had a net margin of 24.39% and a return on equity of 10.73%. The firm had revenue of $21.00 million during the quarter.

Insider Buying and Selling

In related news, Director Mark Schulze sold 4,000 shares of the firm's stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $16.66, for a total transaction of $66,640.00. Following the completion of the transaction, the director directly owned 722,421 shares in the company, valued at $12,035,533.86. This trade represents a 0.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 8,500 shares of company stock worth $144,315. Company insiders own 11.92% of the company's stock.

Institutional Trading of First Northern Community Bancorp

Several hedge funds have recently made changes to their positions in FNRN. Fourthstone LLC grew its holdings in shares of First Northern Community Bancorp by 35.2% in the third quarter. Fourthstone LLC now owns 1,554,776 shares of the company's stock valued at $26,867,000 after purchasing an additional 404,716 shares in the last quarter. First Trust Advisors LP purchased a new stake in First Northern Community Bancorp during the 3rd quarter worth approximately $1,106,000. State Street Corp increased its stake in First Northern Community Bancorp by 48.7% during the 3rd quarter. State Street Corp now owns 269,185 shares of the company's stock worth $4,652,000 after buying an additional 88,211 shares during the period. Allworth Financial LP lifted its holdings in First Northern Community Bancorp by 99.6% during the 3rd quarter. Allworth Financial LP now owns 27,642 shares of the company's stock worth $496,000 after buying an additional 13,795 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in First Northern Community Bancorp during the 2nd quarter worth approximately $300,000. Institutional investors and hedge funds own 17.86% of the company's stock.

About First Northern Community Bancorp

First Northern Community Bancorp is the bank holding company for First Northern Bank, a community bank headquartered in Dixon, California. The bank traces its roots to 1910 and serves individuals, businesses and organizations in Northern California. Its services include checking and savings accounts, certificates of deposit, consumer and business loans, commercial real estate financing, and banking services for businesses. Customers can also access digital banking tools and cash-management services.

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