First Guaranty Bancshares (NASDAQ:FGBI) Posts Earnings Results

First Guaranty Bancshares (NASDAQ:FGBI) posted its quarterly earnings results on Tuesday. The bank reported $0.69 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $37.47 million for the quarter. First Guaranty Bancshares had a negative net margin of 16.83% and a negative return on equity of 12.25%.

First Guaranty Bancshares Price Performance

NASDAQ:FGBI traded up $0.18 during trading hours on Tuesday, hitting $8.89. The company’s stock had a trading volume of 31,177 shares, compared to its average volume of 27,729. First Guaranty Bancshares has a twelve month low of $4.31 and a twelve month high of $11.02. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a fifty day simple moving average of $8.37 and a 200-day simple moving average of $8.97. The company has a market capitalization of $147.03 million, a P/E ratio of -3.67 and a beta of 0.47.

First Guaranty Bancshares Dividend Announcement

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

Analyst Ratings Changes

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

Insider Activity

In related news, Director Edgar R. Smith III bought 99,277 shares of the company’s stock in a transaction dated Wednesday, September 30th. The stock was purchased at an average price of $8.28 per share, with a total value of $822,013.56. Following the completion of the acquisition, the director owned 958,523 shares of the company’s stock, valued at $7,936,570.44. The trade was a 11.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Walker purchased 8,500 shares of First Guaranty Bancshares stock in a transaction dated Thursday, September 10th. The stock was bought at an average price of $10.91 per share, for a total transaction of $92,735.00. Following the completion of the purchase, the director owned 62,621 shares in the company, valued at $683,195.11. This represents a 15.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 117,908 shares of company stock valued at $1,100,279. 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 raised its stake in 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 institutional investor owned 6,942 shares of the bank’s stock after buying an additional 6,442 shares during the period. NewEdge Advisors LLC’s holdings in First Guaranty Bancshares were worth $56,000 at the end of the most recent quarter. 39.52% of the stock is owned by hedge funds and other institutional investors.

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.