First Guaranty Bancshares (NASDAQ:FGBI) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

First Guaranty Bancshares, Inc. (NASDAQ:FGBI)’s stock price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.83 and traded as low as $9.23. First Guaranty Bancshares shares last traded at $9.31, with a volume of 26,283 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FGBI shares. Weiss Ratings restated a “sell (d)” rating on shares of First Guaranty Bancshares in a report on Friday. Wall Street Zen upgraded First Guaranty Bancshares to a “hold” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, First Guaranty Bancshares currently has an average rating of “Reduce”.

First Guaranty Bancshares Stock Down 1.1%

The business’s 50 day moving average is $9.83 and its 200-day moving average is $9.09. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $152.91 million, a price-to-earnings ratio of -2.90 and a beta of 0.43.

First Guaranty Bancshares (NASDAQ:FGBI) last released its earnings results on Monday, April 27th. The bank reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07. The firm had revenue of $22.90 million for the quarter, compared to analyst estimates of $22.15 million. First Guaranty Bancshares had a negative return on equity of 17.06% and a negative net margin of 21.47%. Equities analysts anticipate that First Guaranty Bancshares, Inc. will post 0.4 EPS for the current fiscal year.

First Guaranty Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 26th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. First Guaranty Bancshares’s payout ratio is currently -1.25%.

Insider Transactions at First Guaranty Bancshares

In other First Guaranty Bancshares news, Director Bruce Mcanally bought 109,051 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were bought at an average cost of $9.17 per share, for a total transaction of $999,997.67. Following the transaction, the director owned 441,587 shares in the company, valued at approximately $4,049,352.79. This trade represents a 32.79% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edgar R. Smith III bought 109,051 shares of First Guaranty Bancshares stock in a transaction dated Thursday, April 30th. The stock was acquired at an average cost of $9.17 per share, for a total transaction of $999,997.67. Following the purchase, the director directly owned 784,400 shares in the company, valued at approximately $7,192,948. The trade was a 16.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 49.40% of the company’s stock.

Institutional Investors Weigh In On First Guaranty Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC boosted its stake in First Guaranty Bancshares by 8.8% in the first quarter. Empowered Funds LLC now owns 46,048 shares of the bank’s stock valued at $355,000 after acquiring an additional 3,742 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of First Guaranty Bancshares by 11.1% during the 1st quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank’s stock valued at $379,000 after acquiring an additional 4,956 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of First Guaranty Bancshares by 60.1% during the 4th quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock valued at $152,000 after acquiring an additional 10,641 shares during the last quarter. Barclays PLC lifted its stake in shares of First Guaranty Bancshares by 135.6% in the 4th quarter. Barclays PLC now owns 11,478 shares of the bank’s stock valued at $62,000 after purchasing an additional 6,606 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of First Guaranty Bancshares by 1,288.4% in the 1st quarter. NewEdge Advisors LLC now owns 6,942 shares of the bank’s stock valued at $56,000 after purchasing an additional 6,442 shares during the period. 39.52% of the stock is owned by institutional investors.

First Guaranty Bancshares Company Profile

First Guaranty Bancshares, Inc is a financial holding company headquartered in Hammond, Louisiana. Through its principal subsidiary, First Guaranty Bank, the company provides a diversified range of commercial and retail banking services. Founded in 1932, First Guaranty Bancshares has grown from a community mutual bank into a publicly traded institution listed on the Nasdaq under the ticker FGBI.

The company’s core business activities encompass traditional deposit products and lending solutions.