Edgar Smith III Purchases 15,000 Shares of First Guaranty Bancshares (NASDAQ:FGBI) Stock

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Director Edgar Smith III purchased 15,000 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was purchased at an average price of $4.97 per share, for a total transaction of $74,550.00. Following the acquisition, the director owned 2,867,467 shares of the company’s stock, valued at approximately $14,251,310.99. This represents a 0.53% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

First Guaranty Bancshares Stock Up 5.4%

FGBI stock traded up $0.26 during midday trading on Friday, reaching $5.10. 29,401 shares of the company’s stock traded hands, compared to its average volume of 13,741. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.81. The firm’s fifty day moving average price is $7.49 and its 200-day moving average price is $8.20. First Guaranty Bancshares, Inc. has a 52 week low of $4.75 and a 52 week high of $15.25. The company has a market cap of $78.30 million, a price-to-earnings ratio of -5.05 and a beta of 0.43.

First Guaranty Bancshares (NASDAQ:FGBI) last issued its quarterly earnings data on Friday, October 31st. The bank reported ($3.01) earnings per share (EPS) for the quarter. First Guaranty Bancshares had a negative net margin of 4.49% and a negative return on equity of 4.73%. The business had revenue of $24.10 million for the quarter. As a group, sell-side analysts forecast that First Guaranty Bancshares, Inc. will post 0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Guaranty Bancshares

Several large investors have recently modified their holdings of the stock. Arkadios Wealth Advisors lifted its stake in First Guaranty Bancshares by 14.0% in the first quarter. Arkadios Wealth Advisors now owns 12,236 shares of the bank’s stock valued at $94,000 after purchasing an additional 1,502 shares during the last quarter. Empowered Funds LLC raised its stake 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 buying an additional 3,742 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of 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 buying an additional 4,956 shares during the last quarter. Hedge funds and other institutional investors own 39.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on FGBI shares. Weiss Ratings restated a “sell (d)” rating on shares of First Guaranty Bancshares in a research note on Wednesday, October 8th. Zacks Research lowered shares of First Guaranty Bancshares from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, First Guaranty Bancshares currently has an average rating of “Sell”.

About First Guaranty Bancshares

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.