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

First Guaranty Bancshares (NASDAQ:FGBI) posted its quarterly earnings data on Monday. The bank reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.08, FiscalAI reports. The business had revenue of $24.18 million during the quarter, compared to the consensus estimate 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%

NASDAQ:FGBI traded up $0.07 during trading hours on Monday, reaching $9.36. 14,232 shares of the company traded hands, compared to its average volume of 30,787. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. The business’s 50-day moving average price is $9.84 and its two-hundred day moving average price is $9.17. First Guaranty Bancshares has a 1 year low of $4.31 and a 1 year high of $11.02. The stock has a market capitalization of $154.10 million, a P/E ratio of -2.92 and a beta of 0.43.

First Guaranty Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders 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 dividend on an annualized basis and a yield of 0.4%. First Guaranty Bancshares’s payout ratio is presently -1.25%.

Analysts Set New Price Targets

FGBI has been the topic of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of First Guaranty Bancshares in a report on Friday, July 17th. Wall Street Zen upgraded shares of First Guaranty Bancshares to a “hold” rating in a research note on Saturday, June 27th. 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, the stock has a consensus rating of “Reduce”.

Insider Activity

In other news, Director Bruce Mcanally purchased 109,051 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were purchased at an average price of $9.17 per share, for a total transaction of $999,997.67. Following the completion of the acquisition, the director directly owned 441,587 shares in the company, valued at $4,049,352.79. This represents a 32.79% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edgar R. Smith III acquired 109,051 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were acquired at an average cost of $9.17 per share, for a total transaction of $999,997.67. Following the completion of the transaction, the director directly owned 784,400 shares of the company’s stock, valued at $7,192,948. The trade was a 16.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 49.40% of the company’s stock.

Hedge Funds Weigh In On First Guaranty Bancshares

Institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of First Guaranty Bancshares by 8.8% in the first quarter. Empowered Funds LLC now owns 46,048 shares of the bank’s stock worth $355,000 after acquiring an additional 3,742 shares during the period. Acadian Asset Management LLC lifted its holdings in First Guaranty Bancshares by 11.1% in 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. Renaissance Technologies LLC lifted its holdings in First Guaranty Bancshares by 60.1% in the fourth quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock valued at $152,000 after acquiring an additional 10,641 shares during the period. Finally, Barclays PLC boosted its position in First Guaranty Bancshares by 135.6% in the fourth 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.

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.