First Guaranty Bancshares (NASDAQ:FGBI) Share Price Crosses Above 50-Day Moving Average – What’s Next?

First Guaranty Bancshares, Inc. (NASDAQ:FGBI)’s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $9.17 and traded as high as $9.69. First Guaranty Bancshares shares last traded at $9.38, with a volume of 12,221 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of First Guaranty Bancshares in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

First Guaranty Bancshares Stock Down 2.4%

The firm has a market capitalization of $154.39 million, a PE ratio of -2.93 and a beta of 0.44. The company has a fifty day simple moving average of $9.17 and a two-hundred day simple moving average of $7.82. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.75.

First Guaranty Bancshares (NASDAQ:FGBI) last issued its earnings results on Monday, April 27th. The bank reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.07. The business had revenue of $22.90 million during the quarter, compared to analysts’ expectations of $22.15 million. First Guaranty Bancshares had a negative return on equity of 17.06% and a negative net margin of 21.47%. Analysts forecast that First Guaranty Bancshares, Inc. will post 0.4 EPS for the current fiscal year.

Insider Transactions at First Guaranty Bancshares

In related news, Director Bruce Mcanally purchased 109,051 shares of First Guaranty Bancshares stock in a transaction dated Thursday, April 30th. The stock was purchased at an average cost of $9.17 per share, with a total value of $999,997.67. Following the transaction, the director owned 441,587 shares in the company, valued at approximately $4,049,352.79. The trade was a 32.79% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edgar R. Smith III bought 138,083 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The shares were acquired at an average price of $7.77 per share, for a total transaction of $1,072,904.91. Following the completion of the purchase, the director owned 675,349 shares in the company, valued at $5,247,461.73. The trade was a 25.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 420,537 shares of company stock valued at $3,572,915. Corporate insiders own 47.20% of the company’s stock.

Hedge Funds Weigh In On First Guaranty Bancshares

Institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC boosted its position 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 purchasing an additional 3,742 shares in the last quarter. Acadian Asset Management LLC raised its holdings in First Guaranty Bancshares by 11.1% in the 1st quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank’s stock valued at $379,000 after acquiring an additional 4,956 shares during the last quarter. Renaissance Technologies LLC raised its holdings in First Guaranty Bancshares by 60.1% in the 4th quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock valued at $152,000 after acquiring an additional 10,641 shares during the last quarter. Finally, Barclays PLC raised its holdings in First Guaranty Bancshares by 135.6% in the 4th quarter. Barclays PLC now owns 11,478 shares of the bank’s stock valued at $62,000 after acquiring an additional 6,606 shares during the last quarter. Institutional investors and hedge funds own 39.52% of the company’s stock.

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.