First National Bank of Groton (OTC:FIGR) Stock Price Down 2.4% - Here's Why

Key Points

• First National Bank of Groton's stock price fell 2.4%, trading as low as $39.55 and last at $40.30, with a significant drop in trading volume of 52% from its average.
• Two directors, Michael Scott Cagney and June Ou, sold a combined total of 3,000,000 shares for $37,500,000 each in recent insider transactions.
• The company operates various banking services, including personal and business accounts and loans, primarily in New York.

Shares of The First National Bank of Groton (OTC:FIGR - ) dropped 2.4% during mid-day trading on Friday . The company traded as low as $39.55 and last traded at $40.30. Approximately 2,591,980 shares were traded during trading, a decline of 52% from the average daily volume of 5,444,528 shares. The stock had previously closed at $41.28.

First National Bank of Groton Stock Performance

The company has a 50 day simple moving average of $343.26 and a 200 day simple moving average of $445.95.

Insider Activity

In related news, Director Michael Scott Cagney sold 1,500,000 shares of the firm'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 value of $37,500,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. In the last 90 days, insiders have sold 3,779,066 shares of company stock worth $94,476,650.

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.

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