First Guaranty Bancshares (NASDAQ:FGBI) Share Price Crosses Below 50-Day Moving Average – Time to Sell?

First Guaranty Bancshares, Inc. (NASDAQ:FGBI)’s share 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.

First Guaranty Bancshares Stock Down 4.2 %

The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s fifty day simple moving average is $12.21 and its two-hundred day simple moving average is $10.83. The company has a market capitalization of $135.43 million, a price-to-earnings ratio of 12.89 and a beta of 0.42.

First Guaranty Bancshares Cuts Dividend

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

Hedge Funds Weigh In On First Guaranty Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of FGBI. Fourthstone LLC acquired a new position in First Guaranty Bancshares in the 3rd quarter worth about $366,000. Renaissance Technologies LLC acquired a new position in First Guaranty Bancshares in the 2nd quarter valued at $138,000. Geode Capital Management LLC grew its position 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 purchasing an additional 5,070 shares during the last quarter. Finally, Empowered Funds LLC increased 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 worth $430,000 after buying an additional 2,010 shares during the period. Institutional investors and hedge funds 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.