Key Points
- Director Robert Walker bought 3,593 FGBI shares at an average price of $19.12, investing $68,698.16 and increasing his direct holdings by 223.31% to 5,202 shares.
- First Guaranty Bancshares reported quarterly EPS of $0.17, exceeding the $0.09 consensus estimate, while revenue of $24.18 million also topped expectations.
- Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce”, with one Hold and one Sell rating, despite recent institutional ownership increases.
First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) Director Robert Walker purchased 3,593 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were acquired at an average cost of $19.12 per share, for a total transaction of $68,698.16. Following the completion of the purchase, the director directly owned 5,202 shares of the company's stock, valued at approximately $99,462.24. This represents a 223.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
First Guaranty Bancshares Price Performance
FGBI stock opened at $9.10 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.75 and a current ratio of 0.73. The firm has a market cap of $150.51 million, a P/E ratio of -3.76 and a beta of 0.44. The firm's fifty day moving average is $9.68 and its 200 day moving average is $9.32. First Guaranty Bancshares, Inc. has a 52 week low of $4.31 and a 52 week high of $11.02.
First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The bank reported $0.17 EPS for the quarter, topping the consensus estimate of $0.09 by $0.08. The firm had revenue of $24.18 million for the quarter, compared to the consensus estimate of $21.66 million. First Guaranty Bancshares had a negative return on equity of 12.25% and a negative net margin of 16.83%. Research analysts predict that First Guaranty Bancshares, Inc. will post 0.4 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on FGBI shares. Weiss Ratings downgraded First Guaranty Bancshares from a "sell (d)" rating to a "sell (d-)" rating in a report on Friday, August 14th. Wall Street Zen upgraded shares of 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 stock. According to MarketBeat, the company currently has a consensus rating of "Reduce".
Read Our Latest Stock Analysis on FGBI
Institutional Trading of First Guaranty Bancshares
Hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC lifted its position in First Guaranty Bancshares by 1,288.4% during the 1st quarter. NewEdge Advisors LLC now owns 6,942 shares of the bank's stock valued at $56,000 after acquiring an additional 6,442 shares during the period. Barclays PLC raised its stake in First Guaranty Bancshares by 135.6% during 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 last quarter. Renaissance Technologies LLC boosted 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 worth $152,000 after acquiring an additional 10,641 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of 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 in the last quarter. Finally, Acadian Asset Management LLC boosted its stake 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 worth $379,000 after purchasing an additional 4,956 shares in the last quarter. 39.52% of the stock is owned by hedge funds and other institutional investors.
First Guaranty Bancshares Company Profile
(
Get Free Report)
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.
Further Reading
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