First Northern Community Bancorp (OTCMKTS:FNRN) to Buyback $15.60 million in Outstanding Shares

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

First Northern Community Bancorp Stock Down 0.3%

FNRN opened at $15.70 on Friday. First Northern Community Bancorp has a 52 week low of $9.42 and a 52 week high of $15.94. The business has a fifty day simple moving average of $14.41 and a 200-day simple moving average of $13.58. The firm has a market cap of $246.18 million and a P/E ratio of 12.49.

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

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.