First Guaranty Bancshares (NASDAQ:FGBI) Announces Earnings Results, Beats Expectations By $0.07 EPS

First Guaranty Bancshares (NASDAQ:FGBI) announced its earnings results on Monday. The bank reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07, FiscalAI reports. First Guaranty Bancshares had a negative return on equity of 16.79% and a negative net margin of 21.47%.The business had revenue of $22.90 million for the quarter, compared to analyst estimates of $22.15 million.

First Guaranty Bancshares Stock Down 1.0%

NASDAQ FGBI traded down $0.10 on Wednesday, hitting $9.03. 4,676 shares of the company were exchanged, compared to its average volume of 21,590. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.96. The company has a market cap of $142.50 million, a PE ratio of -2.82 and a beta of 0.44. The stock has a fifty day moving average of $8.96 and a 200-day moving average of $7.57. First Guaranty Bancshares has a 12 month low of $4.31 and a 12 month high of $10.07.

First Guaranty Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 27th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.4%. First Guaranty Bancshares’s dividend payout ratio is currently -1.25%.

Insider Transactions at First Guaranty Bancshares

In other news, Director Bruce Mcanally bought 109,051 shares of the stock in a transaction dated Thursday, April 30th. The shares were bought at an average cost of $9.17 per share, with a total value of $999,997.67. Following the completion of the transaction, the director directly owned 441,587 shares of the company’s stock, valued at $4,049,352.79. This trade represents a 32.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Marshall T. Reynolds purchased 32,176 shares of First Guaranty Bancshares stock in a transaction that occurred on Tuesday, March 31st. The stock was acquired at an average cost of $7.77 per share, with a total value of $250,007.52. Following the transaction, the director owned 2,025,997 shares in the company, valued at $15,741,996.69. This trade represents a 1.61% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 420,537 shares of company stock valued at $3,572,915 in the last 90 days. 47.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FGBI. Barclays PLC raised its holdings in shares of First Guaranty Bancshares by 135.6% in the 4th quarter. Barclays PLC now owns 11,478 shares of the bank’s stock worth $62,000 after acquiring an additional 6,606 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of First Guaranty Bancshares by 60.1% during the fourth quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock valued at $152,000 after buying an additional 10,641 shares during the last quarter. Empowered Funds LLC raised its position 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 last quarter. Finally, Acadian Asset Management LLC lifted its stake in First Guaranty Bancshares by 11.1% during the 1st quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank’s stock valued at $379,000 after acquiring an additional 4,956 shares in the last quarter. 39.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of First Guaranty Bancshares in a research note on Tuesday, April 21st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently 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.