The First National Bank of Groton’s Quiet Period Set To End on October 21st (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 IPO 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 earnings forecasts or research reports for the company because of SEC regulations. Following the end 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 Price Performance

FIGR opened at $38.46 on Friday. First National Bank of Groton has a 12 month low of $30.01 and a 12 month high of $49.50. The stock has a fifty day moving average price of $252.05 and a 200-day moving average price of $414.50.

Insiders Place Their Bets

In related news, CEO Michael Benjamin Tannenbaum sold 297,171 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were 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 owned 4,092,576 shares in the company, valued at $102,314,400. The trade was a 6.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director June Ou sold 1,500,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $25.00, for a total transaction of $37,500,000.00. 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 three months.

About First National Bank of Groton

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.