First Northern Community Bancorp (NASDAQ:FNRN) Announces Quarterly Earnings Results

Key Points

• First Northern Community Bancorp reported quarterly EPS of $0.38 on revenue of $21.0 million, with a 10.68% return on equity and a 24.97% net margin.
• Shares rose 0.8% to $17.11, placing the stock near its 50-day moving average; FNRN has traded between $12.76 and $19.25 over the past year and carries a 12.63 price-to-earnings ratio.
• Analyst sentiment remains positive, with a consensus “Buy” rating, although insiders sold 12,000 shares worth approximately $210,728 over the past 90 days.

First Northern Community Bancorp (NASDAQ:FNRN - Get Free Report) announced its earnings results on Thursday. The company reported $0.38 earnings per share (EPS) for the quarter, Zacks reports. First Northern Community Bancorp had a return on equity of 10.68% and a net margin of 24.97%. The business had revenue of $21.00 million for the quarter.

First Northern Community Bancorp Trading Up 0.8%

FNRN stock traded up $0.13 on Friday, hitting $17.11. 67,535 shares of the company's stock were exchanged, compared to its average volume of 61,157. The stock's 50 day simple moving average is $17.08. First Northern Community Bancorp has a 12-month low of $12.76 and a 12-month high of $19.25. The firm has a market capitalization of $280.52 million and a PE ratio of 12.63.

Wall Street Analyst Weigh In

FNRN has been the topic of a number of recent research reports. Weiss Ratings downgraded First Northern Community Bancorp from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, October 9th. Wall Street Zen upgraded shares of First Northern Community Bancorp from a "sell" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, First Northern Community Bancorp has an average rating of "Buy".

Insider Activity

In related news, Director Mark Schulze sold 5,250 shares of First Northern Community Bancorp stock in a transaction that occurred on 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 in the company, valued at $12,471,525.34. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Martinez sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $17.51, for a total transaction of $35,020.00. Following the sale, the director directly owned 72,252 shares in the company, valued at approximately $1,265,132.52. This represents a 2.69% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 12,000 shares of company stock worth $210,728. Corporate insiders own 11.92% of the company's stock.

First Northern Community Bancorp Company Profile

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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