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

First Northern Community Bancorp (NASDAQ:FNRN) saw a large increase in short interest during the month of 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 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.

First Northern Community Bancorp Stock Up 0.6%

Shares of FNRN stock opened at $18.27 on Tuesday. First Northern Community Bancorp has a 12-month low of $10.07 and a 12-month high of $18.62. The stock has a market capitalization of $299.83 million, a PE ratio of 13.02 and a beta of 0.01. The stock has a 50 day moving average of $17.71.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FNRN shares. Wall Street Zen upgraded First Northern Community Bancorp to a “hold” rating in a 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 note on Monday, June 15th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, First Northern Community Bancorp currently has a consensus rating of “Buy”.

Insider Activity at First Northern Community Bancorp

In related 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 transaction, the chief financial officer directly owned 45,962 shares of the company’s stock, valued at approximately $783,192.48. This represents a 15.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeremiah Zachary Smith sold 6,783 shares of First Northern Community Bancorp stock in a transaction on Friday, May 15th. The stock was sold at an average price of $17.69, for a total value of $119,991.27. Following the completion of the sale, the chief executive officer directly owned 154,569 shares of the company’s stock, valued at approximately $2,734,325.61. The trade was a 4.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 20,054 shares of company stock valued at $349,849. 11.92% of the stock is owned by corporate insiders.

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.