First Guaranty Bancshares (NASDAQ:FGBI) Shares Break Below 50-Day Moving Average – Here’s What Happened

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $8.45 and traded as low as $8.09. First Guaranty Bancshares shares last traded at $8.09, with a volume of 61,845 shares changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on FGBI. Weiss Ratings lowered shares of First Guaranty Bancshares from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, August 14th. Wall Street Zen raised First Guaranty Bancshares to a “hold” rating in a research report on Saturday, June 27th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

First Guaranty Bancshares Stock Performance

The stock has a market capitalization of $133.81 million, a PE ratio of -3.34 and a beta of 0.47. The business has a 50 day moving average price of $8.45 and a 200 day moving average price of $9.19. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.73 and a quick ratio of 0.73.

First Guaranty Bancshares (NASDAQ:FGBI) last issued its quarterly earnings results on Monday, July 27th. The bank reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.08. The firm had revenue of $24.18 million during the quarter, compared to the consensus estimate of $21.66 million. First Guaranty Bancshares had a negative return on equity of 12.25% and a negative net margin of 16.83%. As a group, equities research analysts expect that First Guaranty Bancshares, Inc. will post 0.40 earnings per share for the current year.

First Guaranty Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 25th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, September 25th. First Guaranty Bancshares’s dividend payout ratio is -1.65%.

Insider Activity

In other news, Director Robert W. Walker bought 4,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was acquired at an average cost of $17.74 per share, with a total value of $70,960.00. Following the completion of the acquisition, the director owned 11,702 shares of the company’s stock, valued at approximately $207,593.48. This represents a 51.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edgar R. Smith III bought 99,277 shares of the company’s stock in a transaction dated Wednesday, September 30th. The stock was purchased at an average price of $8.28 per share, for a total transaction of $822,013.56. Following the purchase, the director owned 958,523 shares of the company’s stock, valued at approximately $7,936,570.44. This represents a 11.55% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 118,108 shares of company stock worth $1,104,179 over the last three months. 49.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Guaranty Bancshares

A hedge fund recently raised its position in First Guaranty Bancshares stock. NewEdge Advisors LLC lifted its position in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) by 1,288.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,942 shares of the bank’s stock after acquiring an additional 6,442 shares during the period. NewEdge Advisors LLC’s holdings in First Guaranty Bancshares were worth $56,000 as of its most recent filing with the Securities & Exchange Commission. 39.52% of the stock is currently owned by institutional investors and hedge funds.

First Guaranty Bancshares Company Profile

First Guaranty Bancshares, Inc is a bank holding company headquartered in Hammond, Louisiana. Its principal subsidiary, First Guaranty Bank, is a community bank that serves individuals, businesses and institutions through a network of banking offices in Louisiana and Texas.

First Guaranty Bank offers a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, consumer loans, residential and commercial real estate financing, and commercial and industrial loans.