Insider Buying: First Guaranty Bancshares (NASDAQ:FGBI) Director Acquires 109,051 Shares of Stock

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Director Bruce Mcanally acquired 109,051 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was bought at an average cost of $9.17 per share, with a total value of $999,997.67. Following the acquisition, the director owned 441,587 shares in the company, valued at $4,049,352.79. The trade was a 32.79% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Bruce Mcanally also recently made the following trade(s):

• On Tuesday, March 31st, Bruce Mcanally acquired 32,176 shares of First Guaranty Bancshares stock. The stock was bought at an average cost of $7.77 per share, with a total value of $250,007.52.

First Guaranty Bancshares Stock Down 2.7%

Shares of NASDAQ FGBI traded down $0.25 during trading hours on Monday, hitting $9.00. The company had a trading volume of 40,022 shares, compared to its average volume of 20,909. The stock has a market capitalization of $142.11 million, a P/E ratio of -2.81 and a beta of 0.44. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.96. First Guaranty Bancshares, Inc. has a 1-year low of $4.31 and a 1-year high of $10.07. The firm’s 50 day moving average is $8.94 and its 200-day moving average is $7.52.

First Guaranty Bancshares (NASDAQ:FGBI) last released its quarterly earnings data on Monday, April 27th. The bank reported $0.14 EPS for the quarter, beating the consensus estimate of $0.07 by $0.07. First Guaranty Bancshares had a negative return on equity of 16.79% and a negative net margin of 21.47%.The company had revenue of $22.90 million during the quarter, compared to the consensus estimate of $22.15 million. On average, analysts expect that First Guaranty Bancshares, Inc. will post 0.4 earnings per share for the current fiscal year.

First Guaranty Bancshares Announces Dividend

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

Hedge Funds Weigh In On First Guaranty Bancshares

Several large investors have recently modified their holdings of the stock. Acadian Asset Management LLC raised its position in shares of First Guaranty Bancshares by 11.1% in the first quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank’s stock valued at $379,000 after purchasing an additional 4,956 shares during the period. Empowered Funds LLC raised its position in shares of First Guaranty Bancshares by 8.8% in the first quarter. Empowered Funds LLC now owns 46,048 shares of the bank’s stock valued at $355,000 after purchasing an additional 3,742 shares during the period. Renaissance Technologies LLC raised its position in shares of First Guaranty Bancshares by 60.1% in the fourth quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock valued at $152,000 after purchasing an additional 10,641 shares during the period. Finally, Barclays PLC raised its position in shares of First Guaranty Bancshares by 135.6% in the fourth quarter. Barclays PLC now owns 11,478 shares of the bank’s stock valued at $62,000 after purchasing an additional 6,606 shares during the period. 39.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of First Guaranty Bancshares in a research report on Tuesday, April 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average 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.