NasdaqCM:FNRNBanks
First Northern Community Bancorp (FNRN) Stock Faces Profit Squeeze Despite Steady Revenue
First Northern Community Bancorp stock barely budged after the latest report, ticking up less than 1% to about $18.40. The market reaction looked calm. The earnings headline was not. Quarterly net income came in at $4.73 million on $18.17 million of revenue, which left earnings per share at $0.29 and pointed to a clear profit squeeze compared with recent quarters.
For a community bank that trades on a 13.3x P/E, that pressure on profits is the real story for long term holders. The key...