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Ledyard Financial Group (OTCMKTS:LFGP) Stock Continues to Trade in a Range

Ash K , , , ,

The Ledyard Financial Group (OTCMKTS:LFGP) stock may have been trading in a range on Friday but at the same time it ought to be noted that on March 4 the company had made a key announcement.

Market Stats

On Friday, PCLI stock fell 10% to $0.0018 with more than 16.67 million shares, compared to its average volume of 11.42 million shares. The stock moved within a range of $0.0018 – 0.0023 after opening trading at $0.0021.

Ledyard Welcomes Josephine Moran as President and Chief Banking Officer

Ledyard Financial Group is best known for being the parent company of the Ledyard National Bank. Last week the company announced it welcomed a new Chief Banking Officer and President in the form of Josephine Moran. It goes without saying that it was a major announcement from the company and one that could have far reaching ramifications on its business.

However, the news did not actually lead to any move in the stock but it is something that investors could do well to keep in mind this week. It was further announced that Moran is going to report to Kathy Underwood, the Chief Executive Officer of Ledyard Financial Group.

At the time the company also announced that the appointment of Moran is going to bring in far more depth at the executive levels at Ledyard Financial Group. At this point in time, it remains to be seen if the stock can actually manage to break out or not.

Key Quote

Kathy Underwood, CEO of Ledyard Financial Group, said, “I’m looking forward to working closely with Josephine, as her knowledge, expertise and experience will add a strong, new dimension to our organization and its ability to grow. Josephine’s decision to join us is testimony to Ledyard’s past performance and future prospects. Her extensive experience across all aspects of the banking space will complement the exceptional executive team already in place.”

Traders Corner

LFGP stock is trading below the 20-Day and 50-Day Moving averages of $24.89 and $25 respectively. Moreover, the stock is trading below the 200-Day moving average of $25.22.