First Northern Community Bancorp (NASDAQ:FNRN) Shares Climb 0.8% - Here's What Happened

Key Points

• First Northern Community Bancorp shares rose 0.8% to $17.11, with trading volume 10% above its average. The company has a $280.5 million market capitalization and a price-to-earnings ratio of 12.63.
• Analyst sentiment remains positive overall: MarketBeat reports a consensus “Buy” rating, despite Weiss Ratings downgrading its buy grade and Wall Street Zen moving its view from sell to hold.
• Insiders sold 12,000 shares worth approximately $210,728 during the last quarter, while institutional ownership stands at 17.86% following several new positions initiated by investment firms.

First Northern Community Bancorp (NASDAQ:FNRN - Get Free Report)'s share price traded up 0.8% on Friday. The stock traded as high as $17.37 and last traded at $17.11. 67,535 shares were traded during mid-day trading, an increase of 10% from the average daily volume of 61,157 shares. The stock had previously closed at $16.98.

Analyst Upgrades and Downgrades

FNRN has been the subject of several research analyst reports. Weiss Ratings lowered First Northern Community Bancorp from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, October 9th. Wall Street Zen upgraded First Northern Community Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday. One investment 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's fifty day moving average is $17.08. The firm has a market cap of $280.52 million and a PE ratio of 12.63.

Insider Buying and Selling

In other First Northern Community Bancorp news, Director Mark C. Schulze sold 5,250 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $17.06, for a total transaction of $89,565.00. Following the sale, the director directly owned 731,039 shares in the company, valued at approximately $12,471,525.34. This trade represents a 0.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard M. Martinez sold 2,000 shares of First Northern Community Bancorp stock in a transaction 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 sale, the director directly owned 72,252 shares of the company's stock, valued at approximately $1,265,132.52. The trade was a 2.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 12,000 shares of company stock worth $210,728. Corporate insiders own 11.92% of the company's stock.

Institutional Investors Weigh In On First Northern Community Bancorp

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

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.

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