First Guaranty Bancshares (NASDAQ:FGBI) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) passed 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 research firms recently issued reports on FGBI. Weiss Ratings restated a “sell (d)” rating on shares of First Guaranty Bancshares in a report on Tuesday, April 21st. Wall Street Zen upgraded First Guaranty Bancshares to a “hold” rating in a report on Saturday, June 27th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, First Guaranty Bancshares has a consensus rating of “Reduce”.

First Guaranty Bancshares Price Performance

The firm has a market cap of $153.24 million, a price-to-earnings ratio of -2.91 and a beta of 0.43. 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 business has a 50 day simple moving average of $9.83 and a 200-day simple moving average of $9.06.

First Guaranty Bancshares (NASDAQ:FGBI) last issued its quarterly earnings data on Monday, April 27th. The bank reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. The firm had revenue of $22.90 million during 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 research analysts expect that First Guaranty Bancshares, Inc. will post 0.4 earnings per share for the current year.

First Guaranty Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 26th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. First Guaranty Bancshares’s payout ratio is presently -1.25%.

Insider Buying and Selling at First Guaranty Bancshares

In related news, Director Bruce Mcanally purchased 109,051 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average cost of $9.17 per share, with a total value of $999,997.67. Following the transaction, the director owned 441,587 shares of the company’s stock, valued at $4,049,352.79. This represents a 32.79% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edgar R. Smith III bought 109,051 shares of the stock in a transaction dated Thursday, April 30th. The stock was purchased at an average price of $9.17 per share, with a total value of $999,997.67. Following the acquisition, the director owned 784,400 shares of the company’s stock, valued at $7,192,948. The trade was a 16.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 49.40% of the company’s stock.

Hedge Funds Weigh In On First Guaranty Bancshares

Several institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its stake 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 worth $379,000 after purchasing an additional 4,956 shares during the last quarter. Empowered Funds LLC increased its position in shares of First Guaranty Bancshares by 8.8% during the first quarter. Empowered Funds LLC now owns 46,048 shares of the bank’s stock valued at $355,000 after buying an additional 3,742 shares during the period. Renaissance Technologies LLC boosted its holdings in First Guaranty Bancshares by 60.1% in the 4th 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. Barclays PLC raised its holdings 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 acquiring an additional 6,606 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of First Guaranty Bancshares by 1,288.4% during the 1st quarter. NewEdge Advisors LLC now owns 6,942 shares of the bank’s stock valued at $56,000 after buying an additional 6,442 shares in the last quarter. Institutional investors 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.