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

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $9.55 and traded as high as $10.84. First Guaranty Bancshares shares last traded at $10.5390, with a volume of 28,255 shares traded.

Analyst Upgrades and Downgrades

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

First Guaranty Bancshares Trading Up 0.8%

The firm’s 50-day simple moving average is $9.55 and its 200 day simple moving average is $8.27. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $173.47 million, a price-to-earnings ratio of -3.29 and a beta of 0.44.

First Guaranty Bancshares (NASDAQ:FGBI) last issued its earnings results 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. First Guaranty Bancshares had a negative return on equity of 17.06% and a negative net margin of 21.47%.The firm had revenue of $22.90 million for the quarter, compared to the consensus estimate of $22.15 million. Equities analysts expect that First Guaranty Bancshares, Inc. will post 0.4 earnings per share for the current year.

First Guaranty Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 26th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.04 annualized dividend and a yield of 0.4%. First Guaranty Bancshares’s dividend payout ratio (DPR) is -1.25%.

Insider Buying and Selling at First Guaranty Bancshares

In other First Guaranty Bancshares news, Director Edgar R. Smith III bought 138,083 shares of the stock in a transaction on Tuesday, March 31st. The stock was purchased at an average price of $7.77 per share, with a total value of $1,072,904.91. Following the completion of the purchase, the director owned 675,349 shares in the company, valued at $5,247,461.73. The trade was a 25.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce Mcanally bought 109,051 shares of the stock in a transaction on Thursday, April 30th. The shares were acquired at an average cost of $9.17 per share, with a total value of $999,997.67. Following the purchase, the director owned 441,587 shares of the company’s stock, valued at approximately $4,049,352.79. This represents a 32.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 420,537 shares of company stock worth $3,572,915 over the last 90 days. Insiders own 47.20% of the company’s stock.

Institutional Trading of First Guaranty Bancshares

A number of hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its stake 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 worth $355,000 after buying an additional 3,742 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of First Guaranty Bancshares by 11.1% in 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. NewEdge Advisors LLC boosted its holdings 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 acquiring an additional 6,442 shares in the last quarter. Barclays PLC boosted its holdings 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 in the last quarter. Finally, Renaissance Technologies LLC grew its position in First Guaranty Bancshares by 60.1% during the 4th quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock worth $152,000 after acquiring an additional 10,641 shares during the last quarter. 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.