First Guaranty Bancshares (NASDAQ:FGBI) Shares Pass Below Fifty Day Moving Average of $23.70

First Guaranty Bancshares, Inc. (NASDAQ:FGBIGet Rating) shares crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $23.70 and traded as low as $22.70. First Guaranty Bancshares shares last traded at $22.93, with a volume of 14,464 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their price objective on shares of First Guaranty Bancshares to $24.00 in a research report on Thursday, September 29th.

First Guaranty Bancshares Price Performance

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.22. The stock has a market cap of $245.74 million, a price-to-earnings ratio of 8.34 and a beta of 0.48. The company’s 50-day moving average is $23.70 and its 200-day moving average is $23.48.

First Guaranty Bancshares (NASDAQ:FGBIGet Rating) last posted its quarterly earnings results on Friday, October 28th. The bank reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.01). First Guaranty Bancshares had a return on equity of 16.50% and a net margin of 22.77%. The business had revenue of $29.47 million during the quarter, compared to analyst estimates of $29.99 million. Equities research analysts expect that First Guaranty Bancshares, Inc. will post 2.59 earnings per share for the current fiscal year.

First Guaranty Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 23rd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, December 22nd. First Guaranty Bancshares’s dividend payout ratio (DPR) is presently 23.27%.

Insider Buying and Selling

In related news, Chairman Marshall T. Reynolds sold 7,833 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $23.98, for a total value of $187,835.34. Following the completion of the transaction, the chairman now owns 1,663,033 shares of the company’s stock, valued at $39,879,531.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 42.50% of the company’s stock.

Institutional Trading of First Guaranty Bancshares

Several hedge funds have recently modified their holdings of FGBI. Morgan Dempsey Capital Management LLC acquired a new stake in shares of First Guaranty Bancshares during the first quarter worth approximately $3,375,000. State Street Corp increased its holdings in shares of First Guaranty Bancshares by 335.2% during the second quarter. State Street Corp now owns 60,764 shares of the bank’s stock worth $1,477,000 after buying an additional 46,802 shares in the last quarter. Northern Trust Corp increased its holdings in shares of First Guaranty Bancshares by 352.8% during the second quarter. Northern Trust Corp now owns 50,512 shares of the bank’s stock worth $1,228,000 after buying an additional 39,357 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of First Guaranty Bancshares during the third quarter worth approximately $404,000. Finally, Citadel Advisors LLC acquired a new stake in shares of First Guaranty Bancshares during the second quarter worth approximately $308,000. Institutional investors and hedge funds own 12.33% of the company’s stock.

About First Guaranty Bancshares

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First Guaranty Bancshares, Inc engages in the provision of personalized commercial banking services to businesses, professionals, and individuals. Its services include personal checking, money market, loans, courtesy sweep, business checking, cash management, courtesy pay, and digital. The company was founded on July 27, 2007 and is headquartered in Hammond, LA.

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