First Northern Community Bancorp (NASDAQ:FNRN) Short Interest Up 340.8% in June

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FNRN shares. 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. Wall Street Zen upgraded shares of First Northern Community Bancorp to a “hold” rating in a research report on Saturday, May 30th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Insider Activity

In related news, Director Mark C. Schulze sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $17.79, for a total value of $35,580.00. Following the sale, the director owned 739,921 shares of the company’s stock, valued at $13,163,194.59. The trade was a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin Spink sold 8,271 shares of First Northern Community Bancorp stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $17.04, for a total value of $140,937.84. Following the sale, the chief financial officer directly owned 45,962 shares in the company, valued at $783,192.48. The trade was a 15.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 20,054 shares of company stock worth $349,849. Corporate insiders own 11.92% of the company’s stock.

First Northern Community Bancorp Trading Up 0.1%

Shares of FNRN stock traded up $0.01 during trading hours on Monday, hitting $18.18. 177,173 shares of the company’s stock were exchanged, compared to its average volume of 363,108. First Northern Community Bancorp has a 52 week low of $10.07 and a 52 week high of $18.62. The firm has a market cap of $298.33 million, a PE ratio of 13.00 and a beta of 0.01. The company has a 50-day moving average price of $17.71.

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.