Northwestern Mutual Wealth Management Co. Acquires New Holdings in First Northern Community Bancorp $FNRN

Northwestern Mutual Wealth Management Co. acquired a new position in First Northern Community Bancorp (NASDAQ:FNRN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 67,180 shares of the company’s stock, valued at approximately $1,205,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FNRN. Legal & General Group Plc bought a new position in First Northern Community Bancorp in the 2nd quarter valued at about $26,000. Allworth Financial LP acquired a new stake in shares of First Northern Community Bancorp in the 2nd quarter worth approximately $248,000. Deutsche Bank AG acquired a new position in shares of First Northern Community Bancorp during the second quarter valued at approximately $263,000. Bank of New York Mellon Corp bought a new position in First Northern Community Bancorp during the 2nd quarter valued at $654,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of First Northern Community Bancorp during the 2nd quarter valued at $6,883,000. Institutional investors own 17.86% of the company’s stock.

Wall Street Analysts Forecast Growth

FNRN has been the topic of several research reports. Wall Street Zen cut shares of First Northern Community Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings lowered shares of First Northern Community Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Insiders Place Their Bets

In related news, Director Mark C. Schulze sold 5,250 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $17.06, for a total value of $89,565.00. Following the completion of the sale, the director owned 731,039 shares of the company’s stock, valued at approximately $12,471,525.34. The trade was a 0.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard M. Martinez sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $17.51, for a total transaction of $35,020.00. Following the completion of the sale, the director directly owned 72,252 shares of the company’s stock, valued at $1,265,132.52. This represents a 2.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 12,000 shares of company stock valued at $210,728. Insiders own 11.92% of the company’s stock.

First Northern Community Bancorp Price Performance

Shares of NASDAQ FNRN opened at $17.35 on Friday. First Northern Community Bancorp has a one year low of $11.97 and a one year high of $19.25. The business’s 50-day simple moving average is $17.75. The firm has a market cap of $284.45 million and a price-to-earnings ratio of 12.81.

First Northern Community Bancorp 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.