First Northern Community Bancorp (OTCMKTS:FNRN) Stock Passes Above Fifty Day Moving Average – Here’s Why

Shares of First Northern Community Bancorp (OTCMKTS:FNRN) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $16.06 and traded as high as $17.52. First Northern Community Bancorp shares last traded at $17.29, with a volume of 131,350 shares trading hands.

First Northern Community Bancorp Stock Down 0.8%

The company has a 50 day moving average of $16.06 and a two-hundred day moving average of $14.53. The firm has a market cap of $283.68 million, a P/E ratio of 13.75 and a beta of 0.01.

First Northern Community Bancorp declared that its Board of Directors has authorized a stock buyback plan on Tuesday, March 31st that permits the company to buyback $15.60 million in shares. This buyback authorization permits the bank to reacquire up to 6.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership 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.