First Northern Community Bancorp (NASDAQ:FNRN) Short Interest Up 358.5% in May

First Northern Community Bancorp (NASDAQ:FNRN) was the target of a significant increase in short interest during the month of 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 company are sold short. Based on an average daily trading volume, of 68,522 shares, the short-interest ratio is currently 1.1 days.

First Northern Community Bancorp Stock Performance

FNRN stock traded up $0.04 during midday trading on Thursday, hitting $17.87. 171,979 shares of the stock traded hands, compared to its average volume of 82,432. The firm has a market cap of $293.25 million, a PE ratio of 12.75 and a beta of 0.01. First Northern Community Bancorp has a 1-year low of $9.70 and a 1-year high of $18.05.

Insider Transactions at First Northern Community Bancorp

In other news, CFO Kevin Spink sold 8,271 shares of the stock in a transaction 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 owned 45,962 shares in the company, valued at $783,192.48. This represents a 15.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremiah Zachary Smith sold 6,783 shares of the 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 completion of the sale, the chief executive officer owned 154,569 shares in the company, valued at $2,734,325.61. The trade was a 4.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,054 shares of company stock worth $349,849 over the last 90 days. 11.92% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings upgraded shares of 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 shares of First Northern Community Bancorp to a “hold” rating in a research report on Saturday, May 30th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, First Northern Community Bancorp presently has an average rating of “Buy”.

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.