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

First Northern Community Bancorp (OTCMKTS:FNRN) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $17.01 and traded as high as $18.49. First Northern Community Bancorp shares last traded at $17.83, with a volume of 486,970 shares changing hands.

First Northern Community Bancorp Price Performance

The firm’s 50-day moving average price is $17.01 and its 200 day moving average price is $15.11. The firm has a market capitalization of $292.54 million, a price-to-earnings ratio of 14.18 and a beta of 0.01.

First Northern Community Bancorp announced that its board has initiated a share repurchase plan on Tuesday, March 31st that authorizes the company to repurchase $15.60 million in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 6.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

First Northern Community Bancorp Company Profile

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.