First Northern Community Bancorp (OTCMKTS:FNRN) Shares Cross Above Fifty Day Moving Average – Time to Sell?

First Northern Community Bancorp (OTCMKTS:FNRN) crossed above its fifty day moving average during trading on Monday . The stock has a fifty 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.

First Northern Community Bancorp Stock Performance

The company has a market cap of $294.18 million, a price-to-earnings ratio of 14.26 and a beta of 0.01. The firm’s 50-day moving average price is $17.11 and its 200 day moving average price is $15.18.

First Northern Community Bancorp announced that its board has initiated a stock buyback program on Tuesday, March 31st that permits the company to buyback $15.60 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 6.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management 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.