First Northern Community Bancorp (NASDAQ:FNRN) Share Price Breaks Above 50-Day Moving Average - Time to Sell?

Key Points

• First Northern Community Bancorp shares rose 0.8%, briefly reaching $17.37 and closing at $17.11, above the 50-day moving average of $17.08. The company has a $280.5 million market capitalization and a price-to-earnings ratio of 12.63.
• Analyst sentiment remains positive overall, with one analyst rating the stock Buy and MarketBeat reporting a consensus Buy rating, despite Wall Street Zen upgrading its view from Sell to Hold and Weiss Ratings slightly downgrading its Buy rating.
• Insiders sold 12,000 shares worth approximately $210,728 over the past 90 days, while institutional investors and hedge funds own 17.86% of the stock. Several major investment firms also initiated positions during the second quarter.

First Northern Community Bancorp (NASDAQ:FNRN - Get Free Report)'s share price crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $17.08 and traded as high as $17.37. First Northern Community Bancorp shares last traded at $17.11, with a volume of 67,535 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FNRN shares. Wall Street Zen raised shares of First Northern Community Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday. Weiss Ratings downgraded shares of First Northern Community Bancorp from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, October 9th. One analyst has rated the stock with a Buy rating. Based on data from MarketBeat, First Northern Community Bancorp presently has a consensus rating of "Buy".

First Northern Community Bancorp Stock Up 0.8%

The company has a 50 day moving average price of $17.08. The firm has a market cap of $280.52 million and a price-to-earnings ratio of 12.63.

Insider Buying and Selling

In other First Northern Community Bancorp news, Director Mark Schulze sold 5,250 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $17.06, for a total value of $89,565.00. Following the sale, the director owned 731,039 shares of the company's stock, valued at $12,471,525.34. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard Martinez sold 2,000 shares of First Northern Community Bancorp stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $17.51, for a total value of $35,020.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,000 shares of company stock worth $210,728 in the last ninety days. Insiders own 11.92% of the company's stock.

Hedge Funds Weigh In On First Northern Community Bancorp

Large investors have recently bought and sold shares of the stock. Legal & General Group Plc bought a new position in shares of First Northern Community Bancorp during the 2nd quarter worth about $26,000. Allworth Financial LP bought a new stake in shares of First Northern Community Bancorp in the second quarter valued at about $248,000. Citadel Advisors LLC bought a new stake in shares of First Northern Community Bancorp in the second quarter valued at about $253,000. Deutsche Bank AG acquired a new stake in First Northern Community Bancorp during the second quarter worth about $263,000. Finally, Arcus Capital Partners LLC acquired a new stake in First Northern Community Bancorp during the second quarter worth about $269,000. 17.86% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.