First Guaranty Bancshares (NASDAQ:FGBI) Shares Pass Below 50-Day Moving Average - Here's Why

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report)'s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $9.13 and traded as low as $8.01. First Guaranty Bancshares shares last traded at $8.08, with a volume of 46,751 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded First Guaranty Bancshares from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th.

First Guaranty Bancshares Trading Down 0.2%

The firm's 50 day simple moving average is $9.13 and its two-hundred day simple moving average is $9.46. The stock has a market capitalization of $105.18 million, a P/E ratio of 62.77 and a beta of 0.43. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.92.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The bank reported ($0.54) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.71). The business had revenue of $56.82 million for the quarter, compared to analyst estimates of $27.90 million. First Guaranty Bancshares had a return on equity of 1.78% and a net margin of 1.59%. As a group, analysts forecast that First Guaranty Bancshares, Inc. will post 0.89 earnings per share for the current fiscal year.

First Guaranty Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 23rd will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, June 23rd. First Guaranty Bancshares's payout ratio is currently 30.77%.

Insider Buying and Selling at First Guaranty Bancshares

In other First Guaranty Bancshares news, Director Edgar R. Smith III bought 98,460 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were bought at an average cost of $8.47 per share, for a total transaction of $833,956.20. Following the purchase, the director now directly owns 98,460 shares of the company's stock, valued at approximately $833,956.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Walker acquired 3,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was bought at an average cost of $9.12 per share, for a total transaction of $27,360.00. Following the transaction, the director now owns 10,000 shares of the company's stock, valued at approximately $91,200. This trade represents a 42.86% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 132,900 shares of company stock worth $1,135,616. Corporate insiders own 47.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Arkadios Wealth Advisors lifted its stake in First Guaranty Bancshares by 14.0% in the 1st quarter. Arkadios Wealth Advisors now owns 12,236 shares of the bank's stock worth $94,000 after purchasing an additional 1,502 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of First Guaranty Bancshares in the fourth quarter worth $149,000. Citadel Advisors LLC raised its position in shares of First Guaranty Bancshares by 26.9% in the fourth quarter. Citadel Advisors LLC now owns 13,661 shares of the bank's stock worth $155,000 after buying an additional 2,894 shares in the last quarter. Millennium Management LLC bought a new stake in First Guaranty Bancshares during the fourth quarter valued at $172,000. Finally, 683 Capital Management LLC purchased a new position in First Guaranty Bancshares during the fourth quarter worth about $296,000. 39.52% of the stock is owned by institutional investors.

About First Guaranty Bancshares

First Guaranty Bancshares, Inc operates as the holding company for First Guaranty Bank that provides commercial banking services in Louisiana and Texas. It offers various deposit products, including personal and business checking, savings, money market, and demand accounts, as well as time deposits to consumers, small businesses, and municipalities.