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

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $8.35 and traded as low as $8.14. First Guaranty Bancshares shares last traded at $8.22, with a volume of 16,534 shares.

Analyst Ratings Changes

FGBI has been the subject of several recent research reports. Weiss Ratings lowered shares of First Guaranty Bancshares from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Wall Street Zen raised shares of 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 given a Sell rating to the stock. Based on data from MarketBeat.com, First Guaranty Bancshares presently has a consensus rating of “Reduce”.

First Guaranty Bancshares Stock Performance

The firm has a market cap of $147.87 million, a price-to-earnings ratio of -3.69 and a beta of 0.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.96. The company has a 50 day moving average of $8.36 and a 200 day moving average of $9.17.

First Guaranty Bancshares (NASDAQ:FGBI) last posted its quarterly earnings results on Monday, July 27th. The bank reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.08. The business 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%.

First Guaranty Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 25th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 25th. This represents a $0.04 annualized dividend and a yield of 0.4%. First Guaranty Bancshares’s dividend payout ratio (DPR) is currently -1.65%.

Insiders Place Their Bets

In other news, Director Edgar R. Smith III bought 99,277 shares of the business’s stock in a transaction on Wednesday, September 30th. The shares were bought at an average cost of $8.28 per share, with a total value of $822,013.56. Following the purchase, the director directly owned 958,523 shares in the company, valued at $7,936,570.44. This trade represents a 11.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Walker purchased 4,000 shares of First Guaranty Bancshares stock in a transaction dated Tuesday, September 15th. The stock was bought at an average cost of $17.74 per share, with a total value of $70,960.00. Following the completion of the transaction, the director directly owned 11,702 shares of the company’s stock, valued at $207,593.48. This represents a 51.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 117,908 shares of company stock worth $1,100,279 over the last ninety days. 49.40% of the stock is owned by insiders.

Hedge Funds Weigh In On First Guaranty Bancshares

An institutional investor recently raised its stake in First Guaranty Bancshares stock. NewEdge Advisors LLC increased its holdings in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) by 1,288.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,942 shares of the bank’s stock after purchasing an additional 6,442 shares during the period. NewEdge Advisors LLC’s holdings in First Guaranty Bancshares were worth $56,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 39.52% of the company’s stock.

About First Guaranty Bancshares

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.