First Guaranty Bancshares (NASDAQ:FGBI) Shares Pass Below Fifty Day Moving Average - Here's What Happened

Key Points

• First Guaranty Bancshares' stock price fell below its fifty-day moving average of $8.29, closing at $8.25 on a trading volume of 6,704 shares.
• The company was downgraded to a "strong sell" rating by Zacks Research, and currently holds a consensus rating of "Sell" from analysts.
• First Guaranty Bancshares announced a quarterly dividend of $0.01 per share, with an ex-dividend date set for September 23rd, representing a dividend yield of 0.5%.

Shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $8.29 and traded as low as $8.18. First Guaranty Bancshares shares last traded at $8.25, with a volume of 6,704 shares traded.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of First Guaranty Bancshares from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 10th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of "Sell".

First Guaranty Bancshares Stock Down 0.8%

The business's 50 day moving average is $8.28 and its 200-day moving average is $8.48. 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 company has a market cap of $124.00 million, a PE ratio of -8.12 and a beta of 0.40.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last issued its quarterly earnings data on Monday, August 18th. The bank reported ($0.61) earnings per share for the quarter, missing the consensus estimate 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 return on equity of 4.73% and a negative net margin of 4.49%. As a group, analysts predict that First Guaranty Bancshares, Inc. will post 0.89 EPS for the current year.

First Guaranty Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 23rd. First Guaranty Bancshares's payout ratio is currently -3.96%.

Insider Buying and Selling at First Guaranty Bancshares

In related news, Director Marshall T. Reynolds bought 30,865 shares of the firm's stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $8.10 per share, for a total transaction of $250,006.50. Following the transaction, the director owned 1,916,468 shares of the company's stock, valued at approximately $15,523,390.80. This trade represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 47.20% of the company's stock.

Institutional Investors Weigh In On First Guaranty Bancshares

Several institutional investors have recently made changes to their positions in the stock. Northern Trust Corp lifted its holdings in First Guaranty Bancshares by 48.8% in the 4th 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 in the last quarter. Ameriprise Financial Inc. purchased a new position in First Guaranty Bancshares in the 4th quarter valued at about $149,000. Citadel Advisors LLC lifted its holdings in First Guaranty Bancshares by 26.9% in 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 purchased a new position in First Guaranty Bancshares in the 4th quarter valued at about $172,000. Finally, Arkadios Wealth Advisors lifted its holdings in First Guaranty Bancshares by 14.0% in 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. 39.52% of the stock is currently owned by hedge funds and other 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.