First Guaranty Bancshares (NASDAQ:FGBI) Share Price Crosses Above 50-Day Moving Average – What’s Next?

Shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $9.17 and traded as high as $9.69. First Guaranty Bancshares shares last traded at $9.38, with a volume of 12,221 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of First Guaranty Bancshares in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce”.

First Guaranty Bancshares Stock Performance

The firm has a market capitalization of $154.39 million, a P/E ratio of -2.93 and a beta of 0.44. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. The business’s 50 day simple moving average is $9.17 and its two-hundred day simple moving average is $7.82.

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

Insider Transactions at First Guaranty Bancshares

In other First Guaranty Bancshares news, Director Bruce Mcanally acquired 109,051 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average price of $9.17 per share, with a total value of $999,997.67. Following the completion of the acquisition, the director owned 441,587 shares in the company, valued at $4,049,352.79. This represents a 32.79% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marshall T. Reynolds bought 32,176 shares of the firm’s stock in a transaction on Tuesday, March 31st. The shares were purchased at an average price of $7.77 per share, for a total transaction of $250,007.52. Following the purchase, the director owned 2,025,997 shares in the company, valued at $15,741,996.69. This trade represents a 1.61% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 420,537 shares of company stock worth $3,572,915 over the last three months. 47.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Guaranty Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its holdings in First Guaranty Bancshares by 8.8% during the 1st 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 in the last quarter. Acadian Asset Management LLC boosted 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. Barclays PLC boosted its position in shares of First Guaranty Bancshares by 135.6% during 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 during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in 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 buying an additional 10,641 shares during the period. 39.52% of the stock is owned by hedge funds and other institutional investors.

About First Guaranty Bancshares

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.