First Northern Community Bancorp (NASDAQ:FNRN) Sees Significant Increase in Short Interest

First Northern Community Bancorp (NASDAQ:FNRN) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 514,620 shares, an increase of 340.8% from the June 15th total of 116,751 shares. Based on an average daily trading volume, of 579,052 shares, the short-interest ratio is currently 0.9 days. Approximately 3.6% of the company’s stock are sold short.

Insider Activity at First Northern Community Bancorp

In other news, Director Mark C. Schulze sold 3,000 shares of First Northern Community Bancorp stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.78, for a total value of $53,340.00. Following the transaction, the director directly owned 741,921 shares of the company’s stock, valued at $13,191,355.38. The trade was a 0.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeremiah Zachary Smith sold 6,783 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $17.69, for a total transaction of $119,991.27. Following the transaction, the chief executive officer directly owned 154,569 shares in the company, valued at $2,734,325.61. The trade was a 4.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 20,054 shares of company stock valued at $349,849 in the last ninety days. Insiders own 11.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of First Northern Community Bancorp to a “hold” rating in a research report on Saturday, May 30th. Weiss Ratings upgraded shares of First Northern Community Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

First Northern Community Bancorp Price Performance

First Northern Community Bancorp stock traded up $0.20 during mid-day trading on Friday, reaching $18.17. The company had a trading volume of 289,054 shares, compared to its average volume of 356,515. First Northern Community Bancorp has a 1 year low of $10.07 and a 1 year high of $18.62. The company has a market cap of $298.17 million, a P/E ratio of 13.00 and a beta of 0.01. The business’s 50-day simple moving average is $17.70.

First Northern Community Bancorp Company Profile

First Northern Community Bancorp is the bank holding company for First Northern Bank, a regionally focused community bank based in Dixon, California. The company provides a range of commercial and consumer banking services through its branch network and digital banking channels, positioning itself as a relationship-driven lender and deposit taker for local businesses, farms and households in Northern California.

First Northern’s core activities include commercial and real estate lending, residential mortgage origination and servicing, small-business banking, and deposit products such as checking, savings and certificate accounts.