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

First Guaranty Bancshares (NASDAQ:FGBI) issued its quarterly earnings data on Monday. The bank reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.41), Zacks reports. The company had revenue of $54.32 million during the quarter, compared to analyst estimates of $29.20 million. First Guaranty Bancshares had a negative net margin of 4.49% and a negative return on equity of 4.77%.

First Guaranty Bancshares Stock Performance

First Guaranty Bancshares stock opened at $7.95 on Wednesday. The stock has a market cap of $102.48 million, a price-to-earnings ratio of -7.87 and a beta of 0.43. First Guaranty Bancshares has a 1-year low of $6.55 and a 1-year high of $15.25. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $8.38 and a 200-day simple moving average of $8.66.

Insider Buying and Selling at First Guaranty Bancshares

In related news, Director Marshall T. Reynolds acquired 30,865 shares of the firm’s stock in a transaction dated Monday, June 30th. The shares were purchased at an average cost of $8.10 per share, for a total transaction of $250,006.50. Following the acquisition, the director owned 1,916,468 shares in the company, valued at $15,523,390.80. The trade was a 1.64% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 boosted its position in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) by 8.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,048 shares of the bank’s stock after acquiring an additional 3,742 shares during the quarter. Empowered Funds LLC owned 0.37% of First Guaranty Bancshares worth $355,000 at the end of the most recent quarter. Institutional investors and hedge funds own 39.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FGBI. Wall Street Zen lowered First Guaranty Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, May 24th. Zacks Research raised shares of First Guaranty Bancshares to a “hold” rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

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.