First Guaranty Bancshares (NASDAQ:FGBI) Issues Earnings Results, Misses Expectations By $0.41 EPS

First Guaranty Bancshares (NASDAQ:FGBI) issued its quarterly earnings results on Monday. The bank reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.41), Zacks reports. The business had revenue of $54.32 million during the quarter, compared to analyst estimates of $29.20 million. First Guaranty Bancshares had a return on equity of 1.78% and a net margin of 1.59%.

First Guaranty Bancshares Price Performance

Shares of NASDAQ FGBI opened at $8.01 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $103.23 million, a PE ratio of 61.62 and a beta of 0.43. The business has a 50-day simple moving average of $8.39 and a two-hundred day simple moving average of $8.67. First Guaranty Bancshares has a fifty-two week low of $6.55 and a fifty-two week high of $15.25.

Insider Buying and Selling at First Guaranty Bancshares

In other news, Director Marshall T. Reynolds bought 30,865 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of $8.10 per share, with a total value of $250,006.50. Following the completion of the acquisition, the director directly owned 1,916,468 shares of the company’s stock, valued at $15,523,390.80. This trade represents a 1.64% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 47.20% of the company’s stock.

Institutional Investors Weigh In On First Guaranty Bancshares

An institutional investor recently raised its position in First Guaranty Bancshares stock. Empowered Funds LLC increased its position in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) by 8.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,048 shares of the bank’s stock after purchasing an additional 3,742 shares during the quarter. Empowered Funds LLC owned 0.37% of First Guaranty Bancshares worth $355,000 as of its most recent SEC filing. 39.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FGBI has been the subject of several recent analyst reports. Wall Street Zen downgraded First Guaranty Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, May 24th. Zacks Research raised First Guaranty Bancshares to a “hold” rating in a report on Tuesday, August 12th.

First Guaranty Bancshares Company Profile

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.