The Centric Financial Corporation (OTCMKTS:CFCX) stock had actually come into focus among investors last Thursday after the company’s banking subsidiary unit Centric Bank made a key announcement. While it is true that the Centric Financial Corporation stock remained within a range on Friday, Centric Bank made an announcement about a major resignation.
Trading Data
On Friday, CFCX stock moved down 1.31% to $9.82 with more than 600 shares, compared to its average volume of 1.7K shares. The stock moved within a range of $9.82 – 9.93 after opening trade at $9.93.
Centric Bank Announces Resignation of CIO and Director of Operations
It was announced that Clair Finkenbinder, was going to resign from her position as the CIO, Vice President and Director of Operations at the bank. The resignation would go into effect on April 1 this year. The resignation of such a key executive can often prove to be a major trigger for a stock but nothing of the sort happened.
However, a successor for the role has not been named yet, however, Centric Bank noted that it would make an announcement regards to the same at a subsequent date. Patricia A Husic, who is the Chief Executive Officer and President of the bank, noted that Finkenbinder had been a huge contributor with regards to the latest tech implementations at the bank. It is going to be interesting to see how the stock performs today following this announcement last week.
Key Quote
Patricia A. Husic, President and CEO of Centric Bank and Centric Financial Corporation stated, “On behalf of our Board of Directors and the management team, we are grateful for Clair’s leadership with new technology implementations, security enhancements and overall strengthening of the technology infrastructure over the past four years at the Bank. Clair has developed a strong team that will allow for an easy transition to his successor.”
Technical Data
CFCX stock is below the 10-Day and 20-Day Moving averages of $9.97 and $9.87 respectively. However, the stock is trading above the 200-Day moving average of $9.54.
