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

First Guaranty Bancshares, Inc. (NASDAQ:FGBI)’s stock price 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 traded.

First Guaranty Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.91. The company has a fifty day moving average of $12.21 and a two-hundred day moving average of $10.83. The stock has a market capitalization of $135.43 million, a P/E ratio of 12.89 and a beta of 0.42.

First Guaranty Bancshares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 27th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Friday, December 27th. First Guaranty Bancshares’s payout ratio is 4.76%.

Hedge Funds Weigh In On First Guaranty Bancshares

Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in shares of First Guaranty Bancshares during the second quarter valued at approximately $138,000. Empowered Funds LLC grew its position in First Guaranty Bancshares by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 40,338 shares of the bank’s stock valued at $430,000 after buying an additional 2,010 shares in the last quarter. Fourthstone LLC acquired a new position in First Guaranty Bancshares during the 3rd quarter valued at about $366,000. Finally, Geode Capital Management LLC lifted its stake in shares of First Guaranty Bancshares by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 68,788 shares of the bank’s stock worth $733,000 after acquiring an additional 5,070 shares during the period. Institutional investors own 39.52% of the company’s stock.

About First Guaranty Bancshares

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.