Barbara A. Hayes, a director at First Northern Community Bancorp (OTC:FNRN), recently purchased 284 shares of common stock, according to a filing with the Securities and Exchange Commission. The shares were acquired at a price of $10 each, totaling $2,840. Following this transaction, Hayes owns a total of 12,102 shares directly. This move reflects her continued investment in the Dixon, California-based financial institution.
InvestingPro Insights
Barbara A. Hayes's recent purchase of First Northern Community Bancorp (OTC:FNRN) shares aligns with several attractive valuation metrics for the company. According to InvestingPro data, FNRN is currently trading at a low P/E ratio of 7.3, which is particularly noteworthy given its revenue growth of 6.1% over the last twelve months. This suggests the stock may be undervalued relative to its earnings potential.
An InvestingPro Tip highlights that FNRN is trading at a low earnings multiple, further supporting the notion of potential undervaluation. This could explain why an insider like Hayes sees an opportunity to increase her stake in the company.
Despite these positive indicators, it's worth noting that FNRN suffers from weak gross profit margins, as pointed out by another InvestingPro Tip. This factor may be influencing the stock's current valuation and could be an area for investors to monitor.
For those interested in a deeper analysis, InvestingPro offers 5 additional tips for FNRN, providing a more comprehensive view of the company's financial health and market position.
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