First Guaranty Bancshares (NASDAQ:FGBI) Releases Earnings Results, Beats Estimates By $0.41 EPS

First Guaranty Bancshares (NASDAQ:FGBI) announced its quarterly earnings data on Wednesday. The bank reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.41, FiscalAI reports. The business had revenue of $22.35 million for the quarter. First Guaranty Bancshares had a negative net margin of 25.11% and a negative return on equity of 20.76%.

First Guaranty Bancshares Stock Performance

Shares of NASDAQ FGBI traded up $0.05 during midday trading on Wednesday, hitting $8.44. 4,766 shares of the company’s stock were exchanged, compared to its average volume of 24,676. First Guaranty Bancshares has a twelve month low of $4.31 and a twelve month high of $10.55. The firm has a market cap of $129.55 million, a P/E ratio of -2.04 and a beta of 0.33. The stock’s 50 day moving average price is $5.93 and its 200-day moving average price is $7.23. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.88 and a quick ratio of 0.88.

First Guaranty Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 26th were given a dividend of $0.01 per share. The ex-dividend date was Friday, December 26th. This represents a $0.04 annualized dividend and a dividend yield of 0.5%. First Guaranty Bancshares’s payout ratio is currently -0.97%.

Insiders Place Their Bets

In related news, Director Robert W. Walker purchased 7,500 shares of the company’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 of the company’s stock, valued at $206,007.04. This represents a 19.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Edgar R. Smith III bought 208,996 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were purchased at an average cost of $5.40 per share, with a total value of $1,128,578.40. Following the purchase, the director directly owned 537,266 shares of the company’s stock, valued at approximately $2,901,236.40. This represents a 63.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 382,438 shares of company stock worth $2,045,197. 47.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in First Guaranty Bancshares stock. Acadian Asset Management LLC raised its position in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) by 11.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,565 shares of the bank’s stock after buying an additional 4,956 shares during the quarter. Acadian Asset Management LLC owned 0.38% of First Guaranty Bancshares worth $379,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 39.52% of the company’s stock.

Analyst Upgrades and Downgrades

FGBI has been the topic of several recent analyst reports. Zacks Research upgraded First Guaranty Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of First Guaranty Bancshares in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

About First Guaranty Bancshares

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.