First Guaranty Bancshares (NASDAQ:FGBI) Issues Earnings Results

First Guaranty Bancshares (NASDAQ:FGBI) posted its quarterly earnings results on Tuesday. The bank reported $0.69 EPS for the quarter, topping the consensus estimate of $0.12 by $0.57, FiscalAI reports. The company had revenue of $37.47 million for the quarter, compared to analysts’ expectations of $21.24 million.

First Guaranty Bancshares Trading Up 2.1%

NASDAQ FGBI opened at $8.89 on Wednesday. First Guaranty Bancshares has a twelve month low of $4.31 and a twelve month high of $11.02. The stock has a fifty day simple moving average of $8.38 and a 200-day simple moving average of $8.98.

First Guaranty Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 25th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, September 25th.

Insider Transactions at First Guaranty Bancshares

In related news, Director Robert W. Walker bought 4,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of $17.74 per share, with a total value of $70,960.00. Following the completion of the transaction, the director directly owned 11,702 shares of the company’s stock, valued at $207,593.48. This represents a 51.93% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edgar Smith, III bought 99,277 shares of the stock in a transaction on Wednesday, September 30th. The shares were bought at an average cost of $8.28 per share, with a total value of $822,013.56. Following the purchase, the director owned 958,523 shares of the company’s stock, valued at $7,936,570.44. This trade represents a 11.55% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 117,908 shares of company stock valued at $1,100,279 over the last three months. Corporate insiders own 49.40% of the company’s stock.

Hedge Funds Weigh In On First Guaranty Bancshares

An institutional investor recently raised its position in First Guaranty Bancshares stock. NewEdge Advisors LLC grew its holdings in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) by 1,288.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,942 shares of the bank’s stock after purchasing an additional 6,442 shares during the period. NewEdge Advisors LLC’s holdings in First Guaranty Bancshares were worth $56,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 39.52% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of First Guaranty Bancshares from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce”.

First Guaranty Bancshares Company Profile

First Guaranty Bancshares, Inc is a bank holding company headquartered in Hammond, Louisiana. It operates through its principal subsidiary, First Guaranty Bank, a community-focused financial institution serving individuals, businesses and organizations.

First Guaranty Bank offers traditional banking products and services, including checking and savings accounts, certificates of deposit, commercial and consumer lending, mortgage loans, online and mobile banking, cash-management services and other treasury-management solutions.