First Guaranty Bancshares (NASDAQ:FGBI) Stock Price Crosses Above Fifty Day Moving Average - Here's What Happened

Key Points

• Shares of First Guaranty Bancshares crossed above their 50-day moving average (50-day MA $8.15), trading as high as $8.83 and last at $8.82 on light volume of 8,534 shares.
• Company insiders have been buying heavily — directors bought shares at $5.40 (total insiders purchased 361,138 shares worth about $1.94M in the last 90 days) and insiders now own 47.20% of the company.
• Analyst sentiment is mixed-to-negative: one Hold and one Sell rating, Weiss Ratings reiterated a "sell (d)", Zacks moved to Hold, and the stock's current average rating is "Reduce".

Shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.15 and traded as high as $8.83. First Guaranty Bancshares shares last traded at $8.82, with a volume of 8,534 shares.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings restated a "sell (d)" rating on shares of First Guaranty Bancshares in a research report on Thursday, January 22nd. Zacks Research raised First Guaranty Bancshares from a "strong sell" rating to a "hold" rating in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce".

First Guaranty Bancshares Trading Down 0.6%

The business's 50 day moving average price is $8.15 and its 200-day moving average price is $7.36. The company has a market cap of $135.39 million, a price-to-earnings ratio of -2.14 and a beta of 0.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.88 and a current ratio of 0.88.

Insider Buying and Selling

In related news, Director Marshall T. Reynolds bought 46,297 shares of the business's stock in a transaction that occurred on Wednesday, December 31st. The stock was acquired at an average price of $5.40 per share, for a total transaction of $250,003.80. Following the transaction, the director directly owned 1,993,821 shares of the company's stock, valued at $10,766,633.40. This represents a 2.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bruce Mcanally purchased 92,600 shares of the stock in a transaction on Wednesday, December 31st. The stock was bought at an average price of $5.40 per share, for a total transaction of $500,040.00. Following the completion of the transaction, the director directly owned 300,360 shares of the company's stock, valued at approximately $1,621,944. This trade represents a 44.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 361,138 shares of company stock valued at $1,938,697 over the last ninety days. Company insiders own 47.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its holdings in shares of First Guaranty Bancshares by 135.6% in the 4th quarter. Barclays PLC now owns 11,478 shares of the bank's stock worth $62,000 after purchasing an additional 6,606 shares during the last quarter. Renaissance Technologies LLC boosted its position in First Guaranty Bancshares by 60.1% in the fourth quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank's stock valued at $152,000 after buying an additional 10,641 shares in the last quarter. Empowered Funds LLC grew its stake in 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. Finally, Acadian Asset Management LLC increased its holdings in shares of First Guaranty Bancshares by 11.1% during the first quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank's stock worth $379,000 after buying an additional 4,956 shares in the last quarter. 39.52% of the stock is owned by institutional investors.

About First Guaranty Bancshares

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.

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