First Guaranty Bancshares (NASDAQ:FGBI) Releases Quarterly 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 EPS for the quarter, topping the consensus estimate of $0.09 by $0.08, FiscalAI reports. The business had revenue of $24.18 million for the quarter, compared to analyst estimates of $21.66 million. First Guaranty Bancshares had a negative return on equity of 17.06% and a negative net margin of 21.47%.

First Guaranty Bancshares Stock Up 0.8%

FGBI stock opened at $9.36 on Tuesday. The company’s 50 day simple moving average is $9.85 and its 200-day simple moving average is $9.18. The firm has a market capitalization of $154.07 million, a PE ratio of -2.92 and a beta of 0.43. First Guaranty Bancshares has a 12 month low of $4.31 and a 12 month high of $11.02. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.75 and a quick ratio of 0.75.

First Guaranty Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 26th were issued 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, June 26th. First Guaranty Bancshares’s dividend payout ratio is -1.25%.

Analyst Ratings Changes

Several research firms recently weighed in on FGBI. Weiss Ratings reaffirmed a “sell (d)” rating on shares of First Guaranty Bancshares in a research note on Friday, July 17th. Wall Street Zen raised First Guaranty Bancshares to a “hold” rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

Insider Buying and Selling

In related news, Director Edgar R. Smith III acquired 109,051 shares of the business’s 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 transaction, the director directly owned 784,400 shares of the company’s stock, valued at approximately $7,192,948. This trade represents a 16.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce Mcanally bought 109,051 shares of First Guaranty Bancshares stock in a transaction that occurred on Thursday, April 30th. The stock was bought at an average cost of $9.17 per share, for a total transaction of $999,997.67. Following the purchase, the director owned 441,587 shares in the company, valued at $4,049,352.79. This represents a 32.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 49.40% of the company’s stock.

Institutional Trading of First Guaranty Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in FGBI. Empowered Funds LLC increased its position in First Guaranty Bancshares by 8.8% during the 1st quarter. Empowered Funds LLC now owns 46,048 shares of the bank’s stock worth $355,000 after purchasing an additional 3,742 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in First Guaranty Bancshares by 11.1% in the 1st 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. Renaissance Technologies LLC boosted its stake 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 worth $152,000 after purchasing an additional 10,641 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of 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 purchasing an additional 6,606 shares during the last quarter. 39.52% of the stock is currently owned by hedge funds and other institutional investors.

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.