Insider Selling: First Northern Community Bancorp (NASDAQ:FNRN) Director Sells $35,000.00 in Stock

First Northern Community Bancorp (NASDAQ:FNRN) Director Mark Schulze sold 2,000 shares of the stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $17.50, for a total transaction of $35,000.00. Following the transaction, the director directly owned 727,921 shares in the company, valued at approximately $12,738,617.50. The trade was a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Northern Community Bancorp Stock Down 4.9%

FNRN stock opened at $17.01 on Friday. The stock has a market capitalization of $278.96 million, a PE ratio of 12.39 and a beta of 0.04. The stock’s 50-day moving average is $17.12. First Northern Community Bancorp has a 52 week low of $13.02 and a 52 week high of $19.25.

First Northern Community Bancorp (NASDAQ:FNRN) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.38 earnings per share for the quarter. First Northern Community Bancorp had a net margin of 24.97% and a return on equity of 10.65%. The firm had revenue of $21.00 million for the quarter.

Institutional Investors Weigh In On First Northern Community Bancorp

A number of hedge funds have recently modified their holdings of the business. Legal & General Group Plc acquired a new stake in First Northern Community Bancorp in the 2nd quarter valued at about $26,000. Allworth Financial LP boosted its holdings in First Northern Community Bancorp by 99.6% in the 3rd quarter. Allworth Financial LP now owns 27,642 shares of the company’s stock valued at $496,000 after purchasing an additional 13,795 shares during the last quarter. Citadel Advisors LLC acquired a new position in First Northern Community Bancorp in the second quarter valued at about $253,000. Deutsche Bank AG purchased a new position in shares of First Northern Community Bancorp during the 2nd quarter worth approximately $263,000. Finally, Arcus Capital Partners LLC purchased a new position in shares of First Northern Community Bancorp during the second quarter worth $269,000. 17.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on FNRN. Weiss Ratings downgraded First Northern Community Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Wall Street Zen upgraded First Northern Community Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

About First Northern Community Bancorp

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.