First Guaranty Bancshares (NASDAQ:FGBI) Posts Quarterly Earnings Results

First Guaranty Bancshares (NASDAQ:FGBI) posted its quarterly earnings results on Thursday. The bank reported ($3.01) EPS for the quarter, missing the consensus estimate of ($0.09) by ($2.92), FiscalAI reports. The company had revenue of $24.10 million for the quarter, compared to analyst estimates of $30.40 million. First Guaranty Bancshares had a negative return on equity of 4.73% and a negative net margin of 4.49%.

First Guaranty Bancshares Stock Down 1.2%

NASDAQ FGBI traded down $0.07 during trading on Thursday, reaching $5.70. The company’s stock had a trading volume of 16,230 shares, compared to its average volume of 13,125. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $86.18 million, a PE ratio of -5.64 and a beta of 0.43. The business has a 50-day moving average price of $8.06 and a 200-day moving average price of $8.50. First Guaranty Bancshares has a 1-year low of $5.64 and a 1-year high of $15.25.

First Guaranty Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were paid 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 0.7%. First Guaranty Bancshares’s payout ratio is -3.96%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Zacks Research cut shares of First Guaranty Bancshares from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 10th. Weiss Ratings restated a “sell (d)” rating on shares of First Guaranty Bancshares in a report on Wednesday, October 8th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Insider Buying and Selling at First Guaranty Bancshares

In other First Guaranty Bancshares news, Director Bruce Mcanally bought 31,056 shares of First Guaranty Bancshares stock in a transaction on Tuesday, September 30th. The stock was purchased at an average cost of $8.05 per share, for a total transaction of $250,000.80. Following the completion of the purchase, the director directly owned 207,760 shares of the company’s stock, valued at $1,672,468. The trade was 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. Also, Director Marshall T. Reynolds bought 31,056 shares of First Guaranty Bancshares stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $8.05 per share, with a total value of $250,000.80. Following the completion of the purchase, the director directly owned 1,947,524 shares of the company’s stock, valued at approximately $15,677,568.20. The trade was a 1.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 203,440 shares of company stock worth $1,637,692 over the last ninety days. 47.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Guaranty Bancshares

An institutional investor recently raised its position in First Guaranty Bancshares stock. Empowered Funds LLC grew its position in First Guaranty Bancshares, Inc. (NASDAQ:FGBI) by 8.8% during the first quarter, according to the company in its most recent disclosure 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 approximately 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 hedge funds and other institutional investors.

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.