State Street Corp Acquires 180,974 Shares of First Northern Community Bancorp $FNRN

Key Points

• State Street Corp acquired 180,974 shares of First Northern Community Bancorp during the second quarter, worth approximately $3.25 million and representing about 1.10% of the company. Other major investors, including BlackRock, also initiated positions, while institutional investors collectively own 17.86% of the stock.
• Company insiders have been net sellers recently, with directors Mark Schulze and Richard Martinez selling shares; insiders sold 12,000 shares worth $210,728 in the last quarter.
• FNRN recently traded at $17.17, with a market capitalization of roughly $281.6 million and a P/E ratio of 12.67. Despite mixed analyst actions, including a downgrade to “sell,” the stock retains a consensus “Buy” rating.

State Street Corp bought a new stake in First Northern Community Bancorp (NASDAQ:FNRN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 180,974 shares of the company's stock, valued at approximately $3,247,000. State Street Corp owned approximately 1.10% of First Northern Community Bancorp as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of FNRN. BlackRock Inc. bought a new stake in First Northern Community Bancorp in the second quarter valued at about $18,860,000. Focus Partners Advisor Solutions LLC bought a new position in First Northern Community Bancorp during the second quarter worth $6,883,000. Northwestern Mutual Wealth Management Co. acquired a new position in First Northern Community Bancorp in the second quarter worth $1,205,000. Bank of New York Mellon Corp acquired a new position in First Northern Community Bancorp in the second quarter worth $654,000. Finally, Squarepoint Ops LLC bought a new stake in First Northern Community Bancorp during the second quarter valued at $300,000. Institutional investors own 17.86% of the company's stock.

Insiders Place Their Bets

In related news, Director Mark Schulze sold 5,250 shares of the stock in a transaction dated Monday, August 10th. The stock was 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 approximately $12,471,525.34. This represents a 0.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Martinez sold 2,000 shares of First Northern Community Bancorp stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $17.51, for a total value of $35,020.00. Following the transaction, the director directly owned 72,252 shares in the company, valued at approximately $1,265,132.52. This trade represents a 2.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 12,000 shares of company stock worth $210,728 in the last quarter. 11.92% of the stock is currently owned by corporate insiders.

First Northern Community Bancorp Trading Up 0.5%

NASDAQ FNRN opened at $17.17 on Friday. The business's 50-day moving average is $17.52. The firm has a market cap of $281.59 million and a P/E ratio of 12.67. First Northern Community Bancorp has a 1 year low of $12.31 and a 1 year high of $19.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of First Northern Community Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Weiss Ratings lowered First Northern Community Bancorp from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, First Northern Community Bancorp currently has a consensus rating of "Buy".

About First Northern Community Bancorp

First Northern Community Bancorp NASDAQ: FNRN is the bank holding company for First Northern Bank, a community-focused financial institution headquartered in Dixon, California. Founded in 1910, First Northern Bank has a longstanding history of serving individuals, families, farmers, and businesses in Northern California.

The bank provides a range of traditional financial products and services, including business and consumer checking and savings accounts, certificates of deposit, commercial and agricultural lending, residential and commercial real estate loans, construction financing, and personal loans.

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