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 $8.14 and last changing hands at $8.22, below the $8.35 average. The stock’s 200-day moving average was $9.18.
• Analysts remain cautious, with one Hold and one Sell rating producing a consensus “Reduce” rating. Despite beating quarterly earnings and revenue estimates, the company reported a negative 12.25% return on equity and a negative 16.83% net margin.
• Insiders purchased 118,107 shares worth approximately $1.1 million over the past 90 days, while insiders own 49.4% of the company. First Guaranty also maintains a quarterly dividend of $0.01 per share, equivalent to a 0.5% annual yield.

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report)'s stock price passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $8.35 and traded as low as $8.14. First Guaranty Bancshares shares last traded at $8.22, with a volume of 16,534 shares changing hands.

Analyst Upgrades and Downgrades

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

First Guaranty Bancshares Trading Down 0.8%

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 company has a 50 day moving average of $8.35 and a two-hundred day moving average of $9.18. The stock has a market cap of $135.96 million, a PE ratio of -3.40 and a beta of 0.47.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last released its quarterly 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 company had revenue of $24.18 million during the quarter, compared to analysts' expectations of $21.66 million. First Guaranty Bancshares had a negative return on equity of 12.25% and a negative net margin of 16.83%.

First Guaranty Bancshares Announces Dividend

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

Insider Activity at First Guaranty Bancshares

In other First Guaranty Bancshares news, Director Robert W. Walker bought 8,500 shares of the firm's stock in a transaction dated Thursday, September 10th. The shares were purchased at an average price of $10.91 per share, for a total transaction of $92,735.00. Following the transaction, the director directly owned 62,621 shares of the company's stock, valued at approximately $683,195.11. This represents a 15.71% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edgar Smith, III bought 99,277 shares of the firm's stock in a transaction dated Wednesday, September 30th. The shares were acquired at an average price of $8.28 per share, for a total transaction of $822,013.56. Following the transaction, the director directly owned 958,523 shares in the company, valued at approximately $7,936,570.44. This represents a 11.55% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 118,107 shares of company stock valued at $1,104,160. Corporate insiders own 49.40% of the company's stock.

Hedge Funds Weigh In On First Guaranty Bancshares

A hedge fund recently raised its position in First Guaranty Bancshares stock. NewEdge Advisors LLC increased its stake in shares of 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 & Exchange Commission. The fund owned 6,942 shares of the bank's stock after purchasing an additional 6,442 shares during the period. NewEdge Advisors LLC's holdings in First Guaranty Bancshares were worth $56,000 as of its most recent filing with the Securities & Exchange Commission. 39.52% of the stock is 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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