First Northern Community Bancorp (OTCMKTS:FNRN) Shares Cross Above 200-Day Moving Average - What's Next?

Key Points

• Shares crossed above its 200-day moving average of $13.86, trading as high as $15.21 and last at $15.16, signaling a potential technical breakout.
• The Board approved a stock buyback of $15.60 million, equal to up to 6.3% of outstanding shares, indicating management believes the stock may be undervalued.
• Recent quarter showed $0.36 EPS on $19.18 million revenue with a 23.9% net margin and 10.57% ROE; valuation metrics include a $237.71 million market cap and a PE ratio 12.06.

First Northern Community Bancorp (OTCMKTS:FNRN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.86 and traded as high as $15.21. First Northern Community Bancorp shares last traded at $15.16, with a volume of 1,899 shares trading hands.

First Northern Community Bancorp Stock Down 0.6%

The company has a market cap of $237.71 million and a PE ratio of 12.06. The stock's 50 day moving average is $14.81 and its 200-day moving average is $13.86.

First Northern Community Bancorp (OTCMKTS:FNRN - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The bank reported $0.36 earnings per share (EPS) for the quarter. First Northern Community Bancorp had a net margin of 23.90% and a return on equity of 10.57%. The company had revenue of $19.18 million for the quarter.

First Northern Community Bancorp announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 31st that permits the company to repurchase $15.60 million in outstanding shares. This repurchase authorization permits the bank to buy up to 6.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

About First Northern Community Bancorp

First Northern Community Bancorp is a bank holding company headquartered in Dixon, California, operating through its principal subsidiary, First Northern Bank. The company provides a full range of commercial, agricultural and consumer banking services tailored to the needs of individuals, small businesses and agricultural producers. Its product offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate loans, business lines of credit, equipment financing and agricultural lending.

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