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

Key Points

• First Guaranty Bancshares shares fell below the fifty-day moving average of $8.56, trading at $8.05 with a volume of 10,388 shares.
• Analysts have downgraded the stock from a "hold" to a "sell" rating following the company's recent quarter report, which revealed a significant earnings miss with an EPS of (0.54) compared to expected earnings of $0.17.
• The company declared a quarterly dividend of $0.01 per share, resulting in an annualized yield of 0.5% and a payout ratio of 30.77%.

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $8.56 and traded as low as $8.05. First Guaranty Bancshares shares last traded at $8.05, with a volume of 10,388 shares changing hands.

Analysts Set New Price Targets

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

First Guaranty Bancshares Price Performance

The firm has a market capitalization of $103.76 million, a price-to-earnings ratio of 61.93 and a beta of 0.43. The company's 50 day moving average is $8.52 and its 200-day moving average is $8.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.92.

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

First Guaranty Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 23rd were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $0.04 annualized dividend and a dividend yield of 0.5%. First Guaranty Bancshares's payout ratio is currently 30.77%.

Insider Buying and Selling

In other First Guaranty Bancshares news, Director Robert W. Walker acquired 3,000 shares of First Guaranty Bancshares stock in a transaction that occurred on Tuesday, May 20th. The shares were bought at an average price of $9.12 per share, with a total value of $27,360.00. Following the completion of the purchase, the director directly owned 10,000 shares in the company, valued at $91,200. This trade represents a 42.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Marshall T. Reynolds bought 30,865 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of $8.10 per share, for a total transaction of $250,006.50. Following the acquisition, the director owned 1,916,468 shares of the company's stock, valued at $15,523,390.80. This trade represents a 1.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 40,590 shares of company stock valued at $342,330 over the last 90 days. 47.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FGBI. Arkadios Wealth Advisors boosted its stake in shares of First Guaranty Bancshares by 14.0% during the 1st quarter. Arkadios Wealth Advisors now owns 12,236 shares of the bank's stock valued at $94,000 after purchasing an additional 1,502 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of First Guaranty Bancshares during the 4th quarter valued at about $149,000. Citadel Advisors LLC boosted its stake in shares of First Guaranty Bancshares by 26.9% during the 4th quarter. Citadel Advisors LLC now owns 13,661 shares of the bank's stock valued at $155,000 after purchasing an additional 2,894 shares in the last quarter. Millennium Management LLC bought a new stake in shares of First Guaranty Bancshares during the 4th quarter valued at about $172,000. Finally, 683 Capital Management LLC bought a new stake in shares of First Guaranty Bancshares during the 4th quarter valued at about $296,000. 39.52% of the stock is owned by institutional investors.

First Guaranty Bancshares Company Profile

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.