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

First Guaranty Bancshares (NASDAQ:FGBI) issued its earnings results on Monday. The bank reported $0.17 EPS for the quarter, topping the consensus estimate of $0.09 by $0.08, FiscalAI reports. First Guaranty Bancshares had a negative return on equity of 17.06% and a negative net margin of 21.47%.The company had revenue of $24.18 million during the quarter, compared to analyst estimates of $21.66 million.

First Guaranty Bancshares Stock Performance

Shares of First Guaranty Bancshares stock traded up $0.07 on Monday, reaching $9.36. 14,232 shares of the company were exchanged, compared to its average volume of 30,787. The firm has a market cap of $154.10 million, a price-to-earnings ratio of -2.92 and a beta of 0.43. First Guaranty Bancshares has a 1-year low of $4.31 and a 1-year high of $11.02. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.75. The company’s 50-day moving average is $9.84 and its two-hundred day moving average is $9.17.

First Guaranty Bancshares Announces Dividend

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

Insider Buying and Selling

In related news, Director Bruce Mcanally acquired 109,051 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average cost of $9.17 per share, for a total transaction of $999,997.67. Following the purchase, the director directly owned 441,587 shares in the company, valued at $4,049,352.79. This represents a 32.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edgar R. Smith III acquired 109,051 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average price of $9.17 per share, with a total value of $999,997.67. Following the completion of the purchase, the director owned 784,400 shares in the company, valued at $7,192,948. The trade was a 16.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 49.40% of the company’s stock.

Institutional Trading of First Guaranty Bancshares

A number of large investors have recently modified their holdings of the company. Barclays PLC lifted its position in First Guaranty Bancshares by 135.6% in the 4th 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 last quarter. Renaissance Technologies LLC grew its position in First Guaranty Bancshares by 60.1% in the 4th quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock worth $152,000 after purchasing an additional 10,641 shares during the last quarter. Empowered Funds LLC increased 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 purchasing an additional 3,742 shares during the period. Finally, Acadian Asset Management LLC increased its stake 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. Institutional investors and hedge funds own 39.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FGBI. Wall Street Zen upgraded First Guaranty Bancshares to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of First Guaranty Bancshares in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently 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.