First Guaranty Bancshares, Inc. (NASDAQ:FGBI – Get Free Report)’s stock price crossed 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.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a “sell (d)” rating on shares of First Guaranty Bancshares in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.
Read Our Latest Report on First Guaranty Bancshares
First Guaranty Bancshares Stock Performance
First Guaranty Bancshares (NASDAQ:FGBI – Get Free Report) last released its quarterly earnings results on Monday, April 27th. The bank reported $0.14 EPS for the quarter, beating the consensus estimate of $0.07 by $0.07. The firm had revenue of $22.90 million during the quarter, compared to the consensus estimate of $22.15 million. First Guaranty Bancshares had a negative net margin of 21.47% and a negative return on equity of 17.06%. As a group, research analysts anticipate that First Guaranty Bancshares, Inc. will post 0.4 EPS for the current year.
Insiders Place Their Bets
In other news, Director Edgar R. Smith III acquired 138,083 shares of the business’s stock in a transaction on Tuesday, March 31st. The stock was bought at an average price of $7.77 per share, for a total transaction of $1,072,904.91. Following the transaction, the director owned 675,349 shares in the company, valued at $5,247,461.73. This represents a 25.70% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce Mcanally acquired 109,051 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were purchased at an average price 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 $4,049,352.79. The trade was a 32.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 420,537 shares of company stock worth $3,572,915. 47.20% of the stock is owned by insiders.
Hedge Funds Weigh In On First Guaranty Bancshares
Large investors have recently bought and sold shares of the company. NewEdge Advisors LLC raised its position in First Guaranty Bancshares by 1,288.4% during the 1st quarter. NewEdge Advisors LLC now owns 6,942 shares of the bank’s stock worth $56,000 after buying an additional 6,442 shares during the last quarter. Barclays PLC raised its position in First Guaranty Bancshares by 135.6% during the 4th quarter. Barclays PLC now owns 11,478 shares of the bank’s stock worth $62,000 after buying an additional 6,606 shares during the last quarter. Renaissance Technologies LLC raised its position 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 buying an additional 10,641 shares during the last quarter. Empowered Funds LLC raised its position in First Guaranty Bancshares by 8.8% during the 1st quarter. Empowered Funds LLC now owns 46,048 shares of the bank’s stock worth $355,000 after buying an additional 3,742 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of First Guaranty Bancshares by 11.1% during 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 period. Hedge funds and other institutional investors own 39.52% of the company’s stock.
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.
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