First Guaranty Bancshares (NASDAQ:FGBI) Stock Price Crosses Below 50 Day Moving Average - Here's Why

Key Points

• FGBI shares fell below their 50-day moving average, trading as low as $8.09 versus the $8.45 average, while remaining below the 200-day average of $9.19.
• Analyst sentiment is cautious: one analyst rates the stock Hold and another Sell, producing a consensus rating of “Reduce.” Despite beating quarterly earnings and revenue estimates, the company reported negative return on equity and net margin.
• Insiders bought 118,108 shares worth approximately $1.1 million over the past 90 days, while the company continues paying a small quarterly dividend of $0.01 per share, equating to a 0.5% yield.

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report)'s share price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $8.45 and traded as low as $8.09. First Guaranty Bancshares shares last traded at $8.09, with a volume of 61,845 shares changing hands.

Analyst Ratings Changes

Several research analysts have commented on FGBI shares. Wall Street Zen upgraded shares of First Guaranty Bancshares to a "hold" rating in a report on Saturday, June 27th. Weiss Ratings lowered shares of First Guaranty Bancshares from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce".

First Guaranty Bancshares Stock Performance

The company has a 50-day simple moving average of $8.45 and a two-hundred day simple moving average of $9.19. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market capitalization of $133.81 million, a P/E ratio of -3.34 and a beta of 0.47.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last posted its earnings results on Monday, July 27th. The bank reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.08. The firm had revenue of $24.18 million for the quarter, compared to the consensus estimate of $21.66 million. First Guaranty Bancshares had a negative return on equity of 12.25% and a negative net margin of 16.83%. As a group, equities analysts forecast that First Guaranty Bancshares, Inc. will post 0.40 EPS for the current year.

First Guaranty Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 25th were given a dividend of $0.01 per share. The ex-dividend date was Friday, September 25th. This represents a $0.04 annualized dividend and a dividend yield of 0.5%. First Guaranty Bancshares's payout ratio is currently -1.65%.

Insider Buying and Selling at First Guaranty Bancshares

In other news, Director Robert W. Walker acquired 4,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of $17.74 per share, with a total value of $70,960.00. Following the completion of the transaction, the director owned 11,702 shares of the company's stock, valued at $207,593.48. This represents a 51.93% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Edgar R. Smith III acquired 99,277 shares of the stock in a transaction on Wednesday, September 30th. The shares were purchased at an average cost of $8.28 per share, with a total value of $822,013.56. Following the transaction, the director directly owned 958,523 shares of the company's stock, valued at approximately $7,936,570.44. This trade represents a 11.55% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 118,108 shares of company stock worth $1,104,179. 49.40% of the stock is owned by insiders.

Institutional Trading of First Guaranty Bancshares

An institutional investor recently raised its position in First Guaranty Bancshares stock. NewEdge Advisors LLC increased its holdings in First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Free Report) by 1,288.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,942 shares of the bank's stock after acquiring an additional 6,442 shares during the quarter. NewEdge Advisors LLC's holdings in First Guaranty Bancshares were worth $56,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 39.52% of the stock is currently owned by hedge funds and other institutional investors.

About First Guaranty Bancshares

First Guaranty Bancshares, Inc is a bank holding company headquartered in Hammond, Louisiana. Its principal subsidiary, First Guaranty Bank, is a community bank that serves individuals, businesses and institutions through a network of banking offices in Louisiana and Texas.

First Guaranty Bank offers a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, consumer loans, residential and commercial real estate financing, and commercial and industrial loans.

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