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

First Guaranty Bancshares (NASDAQ:FGBI) posted its earnings results on Monday. The bank reported $0.17 EPS for the quarter, beating the consensus estimate of $0.09 by $0.08, FiscalAI reports. The firm had revenue of $24.18 million for the quarter, compared to analysts’ expectations 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 Performance

NASDAQ:FGBI traded up $0.07 during mid-day trading on Monday, hitting $9.36. 14,232 shares of the company’s stock traded hands, compared to its average volume of 30,787. The firm has a market capitalization of $154.10 million, a price-to-earnings ratio of -2.92 and a beta of 0.43. The firm has a 50 day moving average of $9.84 and a two-hundred day moving average of $9.17. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. First Guaranty Bancshares has a 12 month low of $4.31 and a 12 month high of $11.02.

First Guaranty Bancshares Dividend Announcement

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

Insider Activity at First Guaranty Bancshares

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

Institutional Trading of First Guaranty Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted its stake in shares of First Guaranty Bancshares by 135.6% in the fourth quarter. Barclays PLC now owns 11,478 shares of the bank’s stock valued at $62,000 after buying an additional 6,606 shares during the period. Renaissance Technologies LLC grew its position in First Guaranty Bancshares by 60.1% during the fourth quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock worth $152,000 after buying an additional 10,641 shares in the last quarter. Empowered Funds LLC increased its stake 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 acquiring an additional 3,742 shares during the period. Finally, Acadian Asset Management LLC increased its stake 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 acquiring an additional 4,956 shares during the period. 39.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FGBI. Weiss Ratings reissued a “sell (d)” rating on shares of First Guaranty Bancshares in a research note on Friday, July 17th. Wall Street Zen raised shares of First Guaranty Bancshares to a “hold” rating in a report on Saturday, June 27th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, First Guaranty Bancshares currently has a consensus 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.