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

First Northern Community Bancorp (NASDAQ:FNRN) was the recipient 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 short-interest ratio is currently 1.1 days.

First Northern Community Bancorp Price Performance

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FNRN shares. Wall Street Zen raised shares of First Northern Community Bancorp to a “hold” rating in a research note on Saturday, May 30th. Weiss Ratings raised shares of First Northern Community Bancorp from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

Insider Transactions at First Northern Community Bancorp

In other news, CEO Jeremiah Zachary Smith sold 6,783 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $17.69, for a total value of $119,991.27. Following the transaction, the chief executive officer directly owned 154,569 shares of the company’s stock, valued at approximately $2,734,325.61. This trade represents a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark C. Schulze sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $17.78, for a total transaction of $53,340.00. Following the completion of the transaction, the director directly owned 741,921 shares in the company, valued at approximately $13,191,355.38. This represents a 0.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 20,054 shares of company stock valued at $349,849. Corporate insiders own 11.92% of the company’s stock.

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.