Wall Street Zen Upgrades First Northern Community Bancorp (NASDAQ:FNRN) to Hold

Key Points

• Wall Street Zen upgraded First Northern Community Bancorp from “sell” to “hold,” while Weiss Ratings slightly downgraded its rating from “buy (b+)” to “buy (b).” MarketBeat reports a consensus “Buy” rating.
• FNRN shares opened at $17.11, with a $280.6 million market capitalization, a 12.63 price-to-earnings ratio, and a 12-month trading range of $12.76 to $19.25.
• Institutional ownership rose through new positions from firms including BlackRock and State Street, with institutions holding 17.86% of the stock. Insiders sold 12,000 shares worth approximately $210,728 over the past 90 days.

First Northern Community Bancorp (NASDAQ:FNRN - Get Free Report) was upgraded by research analysts at 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 lowered shares of First Northern Community Bancorp from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, October 9th. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, First Northern Community Bancorp has a consensus rating of "Buy".

First Northern Community Bancorp Price Performance

Shares of FNRN opened at $17.11 on Friday. The company's fifty day moving average is $17.08. The stock has a market capitalization of $280.60 million and a price-to-earnings ratio of 12.63. First Northern Community Bancorp has a 12-month low of $12.76 and a 12-month high of $19.25.

Insider Activity

In related news, Director Mark Schulze sold 5,250 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $17.06, for a total value of $89,565.00. Following the completion of the sale, the director directly owned 731,039 shares of the company's stock, valued at $12,471,525.34. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Martinez sold 2,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $17.51, for a total transaction of $35,020.00. Following the transaction, the director owned 72,252 shares in the company, valued at approximately $1,265,132.52. The trade was a 2.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 12,000 shares of company stock valued at $210,728 over the last 90 days. 11.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Northern Community Bancorp

Institutional investors have recently bought and sold shares of the business. State Street Corp bought a new stake in First Northern Community Bancorp during the 2nd quarter valued at $3,247,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of First Northern Community Bancorp in the 2nd quarter worth $1,205,000. BlackRock Inc. bought a new position in shares of First Northern Community Bancorp in the 2nd quarter worth $18,860,000. Focus Partners Advisor Solutions LLC bought a new position in shares of First Northern Community Bancorp in the 2nd quarter worth $6,883,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of First Northern Community Bancorp during the 2nd quarter worth $654,000. 17.86% of the stock is owned by hedge funds and other institutional investors.

About First Northern Community Bancorp

First Northern Community Bancorp is the bank holding company for First Northern Bank, a community banking institution headquartered in Dixon, California. Through its banking subsidiary, the company serves individuals, families, businesses and agricultural customers in Northern California.

First Northern Bank provides a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, consumer loans, residential and commercial real estate financing, business loans and agricultural lending.

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