Insider Selling: First Northern Community Bancorp (NASDAQ:FNRN) Director Sells 1,000 Shares of Company Stock

Key Points

• Director Mark Schulze sold 1,000 shares for $16,680 at an average price of $16.68, reducing his stake by 0.14%; he still directly owns 726,421 shares.
• First Northern Community Bancorp reported quarterly EPS of $0.38 on $21 million in revenue, with a 24.39% net margin and 10.73% return on equity.
• The stock was trading at $17.30, within its 12-month range of $13.05 to $19.25; MarketBeat reported an average analyst rating of Buy.

First Northern Community Bancorp (NASDAQ:FNRN - Get Free Report) Director Mark Schulze sold 1,000 shares of the stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $16.68, for a total transaction of $16,680.00. Following the completion of the sale, the director directly owned 726,421 shares in the company, valued at approximately $12,116,702.28. The trade was a 0.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

First Northern Community Bancorp Stock Performance

NASDAQ:FNRN traded up $0.30 during mid-day trading on Friday, hitting $17.30. 156,412 shares of the stock traded hands, compared to its average volume of 96,310. The firm's 50-day moving average is $17.11. The company has a market cap of $281.82 million, a P/E ratio of 12.60 and a beta of 0.04. First Northern Community Bancorp has a 12-month low of $13.05 and a 12-month high of $19.25.

First Northern Community Bancorp (NASDAQ:FNRN - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.38 earnings per share (EPS) for the quarter. First Northern Community Bancorp had a net margin of 24.39% and a return on equity of 10.73%. The business had revenue of $21.00 million for the quarter.

Wall Street Analyst Weigh In

FNRN has been the topic of several research analyst reports. Wall Street Zen raised shares of First Northern Community Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, October 31st. Weiss Ratings upgraded First Northern Community Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday. One analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has an average rating of "Buy".

Hedge Funds Weigh In On First Northern Community Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of FNRN. BlackRock Inc. bought a new position in shares of First Northern Community Bancorp during the 2nd quarter valued at about $18,860,000. Focus Partners Advisor Solutions LLC bought a new stake in First Northern Community Bancorp in the 2nd quarter worth approximately $6,883,000. State Street Corp lifted its position in First Northern Community Bancorp by 48.7% in the 3rd quarter. State Street Corp now owns 269,185 shares of the company's stock worth $4,652,000 after buying an additional 88,211 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in First Northern Community Bancorp in the 2nd quarter worth approximately $1,205,000. Finally, First Trust Advisors LP purchased a new stake in First Northern Community Bancorp in the third quarter worth approximately $1,106,000. 17.86% of the stock is currently 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 bank headquartered in Dixon, California. The bank traces its roots to 1910 and serves individuals, businesses and organizations in Northern California. Its services include checking and savings accounts, certificates of deposit, consumer and business loans, commercial real estate financing, and banking services for businesses. Customers can also access digital banking tools and cash-management services.

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