Northwestern Mutual Wealth Management Co. Makes New Investment in First Northern Community Bancorp $FNRN

Key Points

• Northwestern Mutual Wealth Management acquired 67,180 shares of First Northern Community Bancorp valued at approximately $1.2 million, while institutional investors collectively own 17.86% of the company.
• FNRN shares opened at $17.44, near the middle of their 12-month range of $11.86 to $19.25. The company has a market capitalization of about $286 million and a P/E ratio of 12.87.
• Insiders have sold 12,000 shares worth approximately $210,728 over the past 90 days, while analyst sentiment remains mixed: MarketBeat reports an average “Buy” rating despite one recent downgrade to “Sell.”

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of First Northern Community Bancorp (NASDAQ:FNRN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 67,180 shares of the company's stock, valued at approximately $1,205,000. Northwestern Mutual Wealth Management Co. owned about 0.41% of First Northern Community Bancorp as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FNRN. Allworth Financial LP bought a new position in shares of First Northern Community Bancorp in the second quarter valued at approximately $248,000. BlackRock Inc. bought a new stake in shares of First Northern Community Bancorp during the 2nd quarter worth $18,860,000. Deutsche Bank AG acquired a new position in First Northern Community Bancorp in the 2nd quarter valued at $263,000. Bank of New York Mellon Corp acquired a new position in First Northern Community Bancorp in the 2nd quarter valued at $654,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in First Northern Community Bancorp in the 2nd quarter worth $6,883,000. Institutional investors own 17.86% of the company's stock.

First Northern Community Bancorp Trading Down 0.1%

Shares of NASDAQ FNRN opened at $17.44 on Wednesday. First Northern Community Bancorp has a 12 month low of $11.86 and a 12 month high of $19.25. The company has a market cap of $286.02 million, a P/E ratio of 12.87 and a beta of 0.01. The stock has a 50 day simple moving average of $17.91.

Insider Buying and Selling at First Northern Community Bancorp

In other First Northern Community Bancorp news, Director Richard M. Martinez sold 2,000 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $17.51, for a total value of $35,020.00. Following the sale, the director directly owned 72,252 shares in the company, valued at $1,265,132.52. This trade represents a 2.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark C. Schulze sold 5,250 shares of the business's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $17.06, for a total transaction of $89,565.00. Following the transaction, the director owned 731,039 shares in the company, valued at approximately $12,471,525.34. The trade was a 0.71% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 12,000 shares of company stock worth $210,728. 11.92% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings lowered shares of First Northern Community Bancorp from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, July 17th. Wall Street Zen downgraded First Northern Community Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy".

First Northern Community Bancorp Profile

First Northern Community Bancorp is the bank holding company for First Northern Bank, a regionally focused community bank based in Dixon, California. The company provides a range of commercial and consumer banking services through its branch network and digital banking channels, positioning itself as a relationship-driven lender and deposit taker for local businesses, farms and households in Northern California.

First Northern's core activities include commercial and real estate lending, residential mortgage origination and servicing, small-business banking, and deposit products such as checking, savings and certificate accounts.

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