The First National Bank of Groton’s Quiet Period To End Tomorrow (OTC:FIGR)

First National Bank of Groton’s (OTC:FIGR) quiet period is set to expire on Tuesday, October 21st. First National Bank of Groton had issued 31,500,000 shares in its public offering on September 11th. The total size of the offering was $787,500,000 based on an initial share price of $25.00. During First National Bank of Groton’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

First National Bank of Groton Stock Down 4.9%

Shares of FIGR opened at $38.46 on Monday. First National Bank of Groton has a fifty-two week low of $30.01 and a fifty-two week high of $49.50. The firm’s 50 day moving average price is $252.05 and its 200 day moving average price is $413.30.

Insider Transactions at First National Bank of Groton

In related news, CEO Michael Benjamin Tannenbaum sold 297,171 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $25.00, for a total transaction of $7,429,275.00. Following the completion of the transaction, the chief executive officer directly owned 4,092,576 shares of the company’s stock, valued at $102,314,400. The trade was a 6.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David Todd Stevens sold 13,035 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $25.00, for a total value of $325,875.00. Following the sale, the insider owned 612,500 shares in the company, valued at approximately $15,312,500. This trade represents a 2.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,779,066 shares of company stock valued at $94,476,650 in the last 90 days.

First National Bank of Groton Company Profile

The First National Bank of Groton offers various banking products and services in New York. The company provides personal checking accounts and personal saving accounts; and business checking, savings, and money market accounts. It also offers personal loans, which includes home mortgage and equity, auto, recreational vehicle, mobile home, and personal home loans.