Bruce Mcanally Purchases 31,056 Shares of First Guaranty Bancshares (NASDAQ:FGBI) Stock

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Director Bruce Mcanally bought 31,056 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was bought at an average price of $8.05 per share, for a total transaction of $250,000.80. Following the transaction, the director owned 207,760 shares of the company’s stock, valued at approximately $1,672,468. This trade represents a 17.58% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

First Guaranty Bancshares Stock Up 12.2%

FGBI opened at $8.82 on Friday. The company has a market cap of $133.36 million, a PE ratio of -8.73 and a beta of 0.37. First Guaranty Bancshares, Inc. has a twelve month low of $6.55 and a twelve month high of $15.25. The company has a 50-day moving average price of $8.20 and a 200 day moving average price of $8.54. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.81.

First Guaranty Bancshares (NASDAQ:FGBI) last posted its quarterly earnings data on Monday, August 18th. The bank reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.41). The firm had revenue of $54.32 million for the quarter, compared to analysts’ expectations of $29.20 million. First Guaranty Bancshares had a negative return on equity of 4.73% and a negative net margin of 4.49%. Sell-side analysts expect that First Guaranty Bancshares, Inc. will post 0.89 earnings per share for the current fiscal year.

First Guaranty Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were issued a $0.01 dividend. The ex-dividend date was Tuesday, September 23rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.5%. First Guaranty Bancshares’s dividend payout ratio (DPR) is presently -3.96%.

Institutional Trading of First Guaranty Bancshares

Several institutional investors have recently made changes to their positions in FGBI. Arkadios Wealth Advisors lifted its holdings in First Guaranty Bancshares by 14.0% in the first quarter. Arkadios Wealth Advisors now owns 12,236 shares of the bank’s stock valued at $94,000 after acquiring an additional 1,502 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of First Guaranty Bancshares in the 4th quarter valued at $149,000. Citadel Advisors LLC grew its holdings in shares of First Guaranty Bancshares by 26.9% during the 4th quarter. Citadel Advisors LLC now owns 13,661 shares of the bank’s stock worth $155,000 after purchasing an additional 2,894 shares during the period. Millennium Management LLC purchased a new stake in First Guaranty Bancshares in the 4th quarter valued at about $172,000. Finally, Empowered Funds LLC raised its holdings in First Guaranty Bancshares by 8.8% in the 1st quarter. Empowered Funds LLC now owns 46,048 shares of the bank’s stock valued at $355,000 after buying an additional 3,742 shares during the period. Hedge funds and other institutional investors own 39.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of First Guaranty Bancshares from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of First Guaranty Bancshares in a report on Saturday, September 27th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat.com, First Guaranty Bancshares currently has an average rating of “Sell”.

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.