Share Buyback Plan Announced by First Northern Community Bancorp (OTCMKTS:FNRN) Board of Directors

First Northern Community Bancorp (OTCMKTS:FNRN) announced that its board has authorized a share buyback program on Tuesday, March 31st, RTT News reports. The company plans to buyback $15.60 million in shares. This buyback authorization permits the bank to repurchase up to 6.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

First Northern Community Bancorp Price Performance

Shares of First Northern Community Bancorp stock opened at $15.89 on Wednesday. The firm has a market cap of $249.16 million, a price-to-earnings ratio of 12.64 and a beta of 0.07. The stock has a 50-day simple moving average of $14.33 and a 200-day simple moving average of $13.55. First Northern Community Bancorp has a 52-week low of $9.42 and a 52-week high of $15.93.

First Northern Community Bancorp (OTCMKTS:FNRN) last released its quarterly earnings data on Thursday, January 29th. The bank reported $0.36 EPS for the quarter. The firm had revenue of $19.18 million for the quarter. First Northern Community Bancorp had a return on equity of 10.57% and a net margin of 23.90%.

First Northern Community Bancorp Company Profile

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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.