First Northern Community Bancorp (OTCMKTS:FNRN) Stock Passes Above Fifty Day Moving Average – Here’s Why

First Northern Community Bancorp (OTCMKTS:FNRN) shares passed 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 traded.

First Northern Community Bancorp Trading Down 3.1%

The stock has a market capitalization of $292.54 million, a PE ratio of 14.18 and a beta of 0.01. The firm has a 50 day moving average of $17.01 and a two-hundred day moving average of $15.11.

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