The First National Bank of Groton's (OTC:FIGR) Quiet Period Will Expire on October 21st

Key Points

• The quiet period for First National Bank of Groton will end on October 21st, after which research coverage from underwriters is expected to begin.
• Following its initial public offering, which raised $787,500,000, the bank's stock opened at $44.00, with a yearly range of $30.01 to $49.50.
• Insiders have sold 3,779,066 shares worth nearly $94.5 million over the past three months, including significant sales by directors on September 12th.

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 initial 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 underwriters that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company's quiet period, it's expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

First National Bank of Groton Stock Performance

OTC:FIGR opened at $44.00 on Tuesday. The company has a 50-day moving average of $288.69 and a 200-day moving average of $426.12. First National Bank of Groton has a twelve month low of $30.01 and a twelve month high of $49.50.

Insider Buying and Selling

In other news, Director June Ou sold 1,500,000 shares of First National Bank of Groton 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Adam Gilbert Boyden sold 468,860 shares of First National Bank of Groton 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 $11,721,500.00. Following the completion of the transaction, the director directly owned 6,651,158 shares in the company, valued at $166,278,950. This represents a 6.59% decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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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