First Northern Community Bancorp (NASDAQ:FNRN – Get Free Report) was the target of a significant increase in short interest in May. As of May 29th, there was short interest totaling 72,049 shares, an increase of 358.5% from the May 14th total of 15,714 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 68,522 shares, the days-to-cover ratio is currently 1.1 days.
Insiders Place Their Bets
In other First Northern Community Bancorp news, CFO Kevin Spink sold 8,271 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $17.04, for a total value of $140,937.84. Following the completion of the sale, the chief financial officer owned 45,962 shares of the company’s stock, valued at $783,192.48. This represents a 15.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark C. Schulze sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $17.79, for a total value of $35,580.00. Following the completion of the sale, the director directly owned 739,921 shares of the company’s stock, valued at approximately $13,163,194.59. This represents a 0.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,054 shares of company stock valued at $349,849 over the last quarter. 11.92% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several analysts have weighed in on FNRN shares. Weiss Ratings upgraded First Northern Community Bancorp from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded First Northern Community Bancorp to a “hold” rating in a research report on Saturday, May 30th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.
First Northern Community Bancorp Stock Performance
Shares of FNRN stock opened at $18.10 on Friday. The firm has a market capitalization of $297.02 million, a P/E ratio of 12.95 and a beta of 0.01. First Northern Community Bancorp has a twelve month low of $9.70 and a twelve month high of $18.24.
About First Northern Community Bancorp
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.
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