First Guaranty Bancshares (NASDAQ:FGBI) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.15 and traded as high as $8.83. First Guaranty Bancshares shares last traded at $8.82, with a volume of 8,534 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Zacks Research raised First Guaranty Bancshares from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of First Guaranty Bancshares in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, First Guaranty Bancshares presently has a consensus rating of “Reduce”.

First Guaranty Bancshares Price Performance

The stock has a market capitalization of $135.39 million, a P/E ratio of -2.14 and a beta of 0.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a 50-day simple moving average of $8.15 and a 200 day simple moving average of $7.36.

Insider Transactions at First Guaranty Bancshares

In other First Guaranty Bancshares news, Director Robert W. Walker bought 7,500 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were bought at an average cost of $4.54 per share, for a total transaction of $34,050.00. Following the transaction, the director owned 45,376 shares in the company, valued at approximately $206,007.04. This trade represents a 19.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marshall T. Reynolds purchased 46,297 shares of the stock in a transaction dated Wednesday, December 31st. The shares were acquired at an average price of $5.40 per share, with a total value of $250,003.80. Following the transaction, the director owned 1,993,821 shares in the company, valued at $10,766,633.40. This trade represents a 2.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 361,138 shares of company stock worth $1,938,697 in the last ninety days. 47.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Guaranty Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of FGBI. Renaissance Technologies LLC grew its holdings in First Guaranty Bancshares by 60.1% during the 4th quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock worth $152,000 after acquiring an additional 10,641 shares during the period. Barclays PLC lifted its stake in shares of 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 purchasing an additional 6,606 shares during the period. Acadian Asset Management LLC boosted its position in shares of First Guaranty Bancshares by 11.1% in the 1st quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank’s stock worth $379,000 after purchasing an additional 4,956 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of 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 during the period. 39.52% of the stock is owned by institutional investors.

First Guaranty Bancshares Company Profile

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.