First Guaranty Bancshares (NASDAQ:FGBI) Stock Crosses 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)'s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty 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 traded.

Wall Street Analyst Weigh In

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

First Guaranty Bancshares Price Performance

The company's fifty day moving average is $8.54 and its 200 day moving average is $8.83. The firm has a market cap of $104.92 million, a price-to-earnings ratio of 62.62 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 posted its quarterly 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). First Guaranty Bancshares had a return on equity of 1.78% and a net margin of 1.59%. The firm had revenue of $56.82 million for the quarter, compared to the consensus estimate of $27.90 million. On average, equities research analysts predict that First Guaranty Bancshares, Inc. will post 0.89 EPS for the current year.

First Guaranty Bancshares Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Edgar R. Smith III purchased 6,725 shares of the company's stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $9.66 per share, with a total value of $64,963.50. Following the completion of the transaction, the director owned 19,407 shares of the company's stock, valued at $187,471.62. The trade was a 53.03% increase in their position. The transaction 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 company's stock in a transaction dated 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 completion of the transaction, the director directly owned 10,000 shares of the company's stock, valued at approximately $91,200. This trade represents a 42.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 40,590 shares of company stock valued at $342,330. 47.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Guaranty Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. LPL Financial LLC bought a new stake in shares of First Guaranty Bancshares in the 4th quarter valued at $400,000. 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 purchasing an additional 8,780 shares during the last quarter. 683 Capital Management LLC purchased a new stake in First Guaranty Bancshares in the fourth quarter worth $296,000. Ameriprise Financial Inc. bought a new position in shares of First Guaranty Bancshares during the fourth quarter valued at $149,000. Finally, Citadel Advisors LLC lifted its position 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 buying an additional 2,894 shares in the last quarter. 39.52% of the stock is currently owned by institutional investors and hedge funds.

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.