First Guaranty Bancshares (NASDAQ:FGBI) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of First Guaranty Bancshares (NASDAQ:FGBI) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

First Guaranty Bancshares Stock Up 0.3%

Shares of NASDAQ FGBI opened at $9.35 on Friday. First Guaranty Bancshares has a 1 year low of $6.56 and a 1 year high of $15.25. The firm has a market cap of $120.50 million, a price-to-earnings ratio of 11.54 and a beta of 0.43. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s 50-day simple moving average is $8.89 and its 200-day simple moving average is $10.11.

First Guaranty Bancshares (NASDAQ:FGBI) last posted its quarterly earnings results on Monday, May 12th. The bank reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.71). First Guaranty Bancshares had a return on equity of 5.62% and a net margin of 5.04%. The firm had revenue of $56.82 million during the quarter, compared to analyst estimates of $27.90 million. As a group, equities analysts anticipate that First Guaranty Bancshares will post 0.89 earnings per share for the current fiscal year.

First Guaranty Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 23rd will be paid a $0.01 dividend. The ex-dividend date is Monday, June 23rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.43%. First Guaranty Bancshares’s payout ratio is currently 30.77%.

Insider Buying and Selling at First Guaranty Bancshares

In other First Guaranty Bancshares news, Director Bruce Mcanally purchased 24,615 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were bought at an average price of $8.47 per share, with a total value of $208,489.05. Following the completion of the acquisition, the director now owns 145,839 shares in the company, valued at approximately $1,235,256.33. This represents a 20.31% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edgar R. Smith III purchased 98,460 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were acquired at an average cost of $8.47 per share, for a total transaction of $833,956.20. Following the acquisition, the director now owns 98,460 shares of the company’s stock, valued at approximately $833,956.20. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 129,900 shares of company stock worth $1,108,256 over the last ninety days. Company insiders own 46.40% of the company’s stock.

Institutional Investors Weigh In On First Guaranty Bancshares

A number of hedge funds have recently made changes to their positions in the business. Bridgeway Capital Management LLC raised its holdings in shares of First Guaranty Bancshares by 1.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 82,497 shares of the bank’s stock valued at $937,000 after buying an additional 1,242 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of 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 buying an additional 4,956 shares during the last quarter. Empowered Funds LLC raised 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 buying an additional 3,742 shares during the last quarter. LPL Financial LLC bought a new stake in shares of First Guaranty Bancshares during the fourth quarter valued at approximately $400,000. Finally, Northern Trust Corp lifted its position in First Guaranty Bancshares by 48.8% in the fourth quarter. Northern Trust Corp now owns 26,780 shares of the bank’s stock worth $304,000 after purchasing an additional 8,780 shares during the period. Institutional investors own 39.52% of the company’s stock.

First Guaranty Bancshares Company Profile

First Guaranty Bancshares, Inc operates as the holding company for First Guaranty Bank that provides commercial banking services in Louisiana and Texas. It offers various deposit products, including personal and business checking, savings, money market, and demand accounts, as well as time deposits to consumers, small businesses, and municipalities.