First Guaranty Bancshares (NASDAQ:FGBI) Posts Earnings Results, Beats Expectations By $0.08 EPS

First Guaranty Bancshares (NASDAQ:FGBI) announced its quarterly earnings results on Monday. The bank reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.08, FiscalAI reports. First Guaranty Bancshares had a negative net margin of 16.83% and a negative return on equity of 12.31%. The company had revenue of $24.18 million during the quarter, compared to the consensus estimate of $21.66 million.

First Guaranty Bancshares Stock Performance

FGBI opened at $9.64 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. The company has a market cap of $158.67 million, a price-to-earnings ratio of -3.98 and a beta of 0.43. The company’s 50 day moving average is $9.87 and its 200 day moving average is $9.19. First Guaranty Bancshares has a 12-month low of $4.31 and a 12-month high of $11.02.

First Guaranty Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 26th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, June 26th. First Guaranty Bancshares’s dividend payout ratio is -1.25%.

Analysts Set New Price Targets

Several analysts have commented on FGBI shares. Wall Street Zen upgraded First Guaranty Bancshares to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings restated a “sell (d)” rating on shares of First Guaranty Bancshares in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Insider Buying and Selling

In other First Guaranty Bancshares news, Director Bruce Mcanally purchased 109,051 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were acquired at an average cost of $9.17 per share, for a total transaction of $999,997.67. Following the completion of the transaction, the director owned 441,587 shares of the company’s stock, valued at approximately $4,049,352.79. The trade was a 32.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edgar R. Smith III purchased 109,051 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were acquired at an average price of $9.17 per share, for a total transaction of $999,997.67. Following the purchase, the director directly owned 784,400 shares in the company, valued at approximately $7,192,948. The trade was a 16.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 49.40% of the stock is currently owned by corporate insiders.

Institutional Trading of First Guaranty Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its position in shares of First Guaranty Bancshares by 60.1% during the 4th quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock valued at $152,000 after buying an additional 10,641 shares in the last quarter. Barclays PLC raised its stake in First Guaranty Bancshares by 135.6% during the 4th quarter. Barclays PLC now owns 11,478 shares of the bank’s stock worth $62,000 after acquiring an additional 6,606 shares during the period. Acadian Asset Management LLC lifted its holdings in First Guaranty Bancshares by 11.1% during 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 in the last quarter. Finally, Empowered Funds LLC lifted its holdings in First Guaranty Bancshares by 8.8% during 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 in the last quarter. Hedge funds and other institutional investors own 39.52% of the company’s stock.

First Guaranty Bancshares Company Profile

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.