First Guaranty Bancshares (NASDAQ:FGBI) Stock Passes Below 50-Day Moving Average – Here’s What Happened

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $12.19 and traded as low as $11.22. First Guaranty Bancshares shares last traded at $11.30, with a volume of 5,724 shares changing hands.

First Guaranty Bancshares Price Performance

The company has a market cap of $141.31 million, a price-to-earnings ratio of 13.45 and a beta of 0.38. The company’s 50 day moving average price is $12.19 and its 200 day moving average price is $10.82. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.91.

First Guaranty Bancshares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 27th were given a $0.01 dividend. The ex-dividend date was Friday, December 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.35%. First Guaranty Bancshares’s payout ratio is currently 4.76%.

Hedge Funds Weigh In On First Guaranty Bancshares

Large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of First Guaranty Bancshares by 8.0% in the third quarter. Geode Capital Management LLC now owns 68,788 shares of the bank’s stock valued at $733,000 after buying an additional 5,070 shares in the last quarter. Empowered Funds LLC boosted its position in shares of First Guaranty Bancshares by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 40,338 shares of the bank’s stock worth $430,000 after purchasing an additional 2,010 shares in the last quarter. Fourthstone LLC purchased a new stake in shares of First Guaranty Bancshares during the 3rd quarter worth $366,000. Finally, Renaissance Technologies LLC acquired a new position in shares of First Guaranty Bancshares during the 2nd quarter worth $138,000. 39.52% of the stock is owned by hedge funds and other institutional investors.

First Guaranty Bancshares Company Profile

First Guaranty Bancshares, Inc operates as the holding company for First Guaranty Bank that provides commercial banking services in Louisiana and Texas. It offers various deposit products, including personal and business checking, savings, money market, and demand accounts, as well as time deposits to consumers, small businesses, and municipalities.