First Guaranty Bancshares (NASDAQ:FGBI) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

First Guaranty Bancshares, Inc. (NASDAQ:FGBI)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $8.15 and traded as high as $8.83. First Guaranty Bancshares shares last traded at $8.82, with a volume of 8,534 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FGBI. Weiss Ratings reaffirmed a “sell (d)” rating on shares of First Guaranty Bancshares in a research report on Thursday, January 22nd. Zacks Research upgraded shares of First Guaranty Bancshares from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

First Guaranty Bancshares Stock Performance

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.99. The stock has a fifty day simple moving average of $8.22 and a 200-day simple moving average of $7.36. The company has a market capitalization of $132.16 million, a P/E ratio of -2.08 and a beta of 0.31.

Insiders Place Their Bets

In other First Guaranty Bancshares news, Director Marshall T. Reynolds acquired 46,297 shares of First Guaranty Bancshares stock in a transaction on Wednesday, December 31st. The shares were bought at an average price of $5.40 per share, with a total value of $250,003.80. Following the completion of the purchase, the director owned 1,993,821 shares in the company, valued at $10,766,633.40. This trade represents a 2.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert W. Walker purchased 7,500 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was bought at an average cost of $4.54 per share, with a total value of $34,050.00. Following the acquisition, the director owned 45,376 shares of the company’s stock, valued at $206,007.04. This represents a 19.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 361,138 shares of company stock worth $1,938,697. 47.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Guaranty Bancshares

Several hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its position in shares of First Guaranty Bancshares by 8.8% during the 1st quarter. Empowered Funds LLC now owns 46,048 shares of the bank’s stock worth $355,000 after buying an additional 3,742 shares during the period. Acadian Asset Management LLC boosted its stake in First Guaranty Bancshares by 11.1% during the 1st quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank’s stock worth $379,000 after acquiring an additional 4,956 shares during the last quarter. Barclays PLC grew its holdings in First Guaranty Bancshares by 135.6% during the fourth 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, Renaissance Technologies LLC grew its holdings in First Guaranty Bancshares by 60.1% during the fourth quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock valued at $152,000 after purchasing an additional 10,641 shares during the period. Institutional investors and hedge funds own 39.52% of the company’s stock.

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.