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

Key Points

• First Guaranty Bancshares shares fell below their 50-day moving average of $8.37, trading as low as $7.94, which raises concerns about the stock's performance.
• Analysts have provided mixed ratings for the stock, with some moving from a "hold" to a "sell" rating, resulting in a consensus rating of "Hold."
• The company reported a negative EPS of ($0.61) for the last quarter, significantly missing the consensus estimate of ($0.20).

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $8.37 and traded as low as $7.94. First Guaranty Bancshares shares last traded at $7.94, with a volume of 13,448 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on FGBI shares. Zacks Research upgraded shares of First Guaranty Bancshares to a "hold" rating in a research report on Tuesday, August 12th. Wall Street Zen cut shares of First Guaranty Bancshares from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

First Guaranty Bancshares Stock Performance

The stock has a market cap of $127.92 million, a PE ratio of -8.38 and a beta of 0.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day moving average price of $8.39 and a two-hundred day moving average price of $8.51.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last released its quarterly earnings data on Monday, August 18th. The bank reported ($0.61) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.41). The company had revenue of $54.32 million for the quarter, compared to analysts' expectations of $29.20 million. First Guaranty Bancshares had a negative net margin of 4.49% and a negative return on equity of 4.73%. As a group, equities research analysts forecast that First Guaranty Bancshares, Inc. will post 0.89 EPS for the current fiscal year.

First Guaranty Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be paid a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, September 23rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.5%. First Guaranty Bancshares's dividend payout ratio (DPR) is presently -3.96%.

Insider Buying and Selling

In other First Guaranty Bancshares news, Director Marshall T. Reynolds purchased 30,865 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average price of $8.10 per share, with a total value of $250,006.50. Following the completion of the purchase, the director directly owned 1,916,468 shares of the company's stock, valued at $15,523,390.80. The trade was a 1.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 47.20% of the stock is owned by insiders.

Institutional Trading of First Guaranty Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its position in First Guaranty Bancshares by 48.8% during the fourth quarter. Northern Trust Corp now owns 26,780 shares of the bank's stock valued at $304,000 after buying an additional 8,780 shares during the period. Ameriprise Financial Inc. purchased a new position in First Guaranty Bancshares during the fourth quarter valued at $149,000. Citadel Advisors LLC lifted its position in First Guaranty Bancshares by 26.9% during the fourth quarter. Citadel Advisors LLC now owns 13,661 shares of the bank's stock valued at $155,000 after buying an additional 2,894 shares during the period. Bridgeway Capital Management LLC lifted its position in First Guaranty Bancshares by 1.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 82,497 shares of the bank's stock valued at $937,000 after buying an additional 1,242 shares during the period. Finally, Millennium Management LLC purchased a new position in First Guaranty Bancshares during the fourth quarter valued at $172,000. Hedge funds and other institutional investors own 39.52% of the company's stock.

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.