First Guaranty Bancshares (NASDAQ:FGBI) Issues Earnings Results, Beats Estimates By $0.57 EPS

First Guaranty Bancshares (NASDAQ:FGBI) released its quarterly earnings data on Tuesday. The bank reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.57, FiscalAI reports. First Guaranty Bancshares had a negative net margin of 16.83% and a negative return on equity of 12.25%. The company had revenue of $37.47 million for the quarter, compared to analysts’ expectations of $21.24 million.

First Guaranty Bancshares Stock Performance

First Guaranty Bancshares stock traded down $0.03 during midday trading on Thursday, reaching $9.32. 6,505 shares of the stock traded hands, compared to its average volume of 27,632. The firm has a fifty day moving average price of $8.39 and a two-hundred day moving average price of $8.99. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.96. The firm has a market cap of $154.15 million, a price-to-earnings ratio of -3.85 and a beta of 0.47. First Guaranty Bancshares has a fifty-two week low of $4.31 and a fifty-two week high of $11.02.

First Guaranty Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 25th were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, September 25th. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. First Guaranty Bancshares’s dividend payout ratio (DPR) is -1.65%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered First Guaranty Bancshares from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, First Guaranty Bancshares currently has a consensus rating of “Reduce”.

Insider Buying and Selling

In other First Guaranty Bancshares news, Director Robert W. Walker bought 8,500 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were bought at an average price of $10.91 per share, for a total transaction of $92,735.00. Following the acquisition, the director directly owned 62,621 shares of the company’s stock, valued at approximately $683,195.11. This trade represents a 15.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edgar R. Smith III bought 99,277 shares of the company’s stock in a transaction on Wednesday, September 30th. The stock was purchased at an average cost of $8.28 per share, for a total transaction of $822,013.56. Following the completion of the transaction, the director owned 958,523 shares in the company, valued at approximately $7,936,570.44. The trade was a 11.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 117,908 shares of company stock worth $1,100,279 in the last quarter. Company insiders own 49.40% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in First Guaranty Bancshares stock. NewEdge Advisors LLC lifted its holdings in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) by 1,288.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,942 shares of the bank’s stock after acquiring an additional 6,442 shares during the quarter. NewEdge Advisors LLC’s holdings in First Guaranty Bancshares were worth $56,000 as of its most recent SEC filing. Institutional investors and hedge funds own 39.52% of the company’s stock.

About First Guaranty Bancshares

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.