First Guaranty Bancshares (NASDAQ:FGBI) Stock Rating Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded First Guaranty Bancshares to Hold, while Weiss Ratings maintained a Sell rating; MarketBeat reports an overall “Reduce” consensus.
• The bank reported quarterly EPS of $0.69, beating the $0.12 consensus, and revenue of $37.47 million versus estimates of $21.24 million.
• Company insiders bought 122,908 shares worth about $1.16 million over the past 90 days; insiders own 49.4% of the stock.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) was upgraded by equities research analysts at Wall Street Zen to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of First Guaranty Bancshares in a report on Thursday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce".

First Guaranty Bancshares Stock Down 4.4%

NASDAQ FGBI opened at $12.35 on Friday. 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 company's 50 day simple moving average is $9.11 and its 200 day simple moving average is $9.20. First Guaranty Bancshares has a 12 month low of $4.31 and a 12 month high of $13.25. The company has a market capitalization of $204.27 million, a P/E ratio of 10.09 and a beta of 0.44.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last released its earnings results on Tuesday, October 27th. The bank reported $0.69 EPS for the quarter, beating the consensus estimate of $0.12 by $0.57. The business had revenue of $37.47 million during the quarter, compared to analyst estimates of $21.24 million. First Guaranty Bancshares had a net margin of 9.17% and a return on equity of 10.67%.

Insider Transactions at First Guaranty Bancshares

In other news, Director Edgar R. Smith III bought 5,000 shares of the company's stock in a transaction dated Friday, November 6th. The shares were acquired at an average cost of $11.80 per share, with a total value of $59,000.00. Following the completion of the transaction, the director directly owned 2,872,467 shares in the company, valued at approximately $33,895,110.60. The trade was a 0.17% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Walker bought 4,000 shares of the company's stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average cost of $17.74 per share, for a total transaction of $70,960.00. Following the completion of the transaction, the director owned 11,702 shares of the company's stock, valued at $207,593.48. This represents a 51.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 122,908 shares of company stock valued at $1,159,279 over the last ninety days. Insiders own 49.40% of the company's stock.

Institutional Investors Weigh In On First Guaranty Bancshares

An institutional investor recently raised its stake in First Guaranty Bancshares stock. Empowered Funds LLC boosted its position in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Free Report) by 36.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,154 shares of the bank's stock after purchasing an additional 17,401 shares during the period. Empowered Funds LLC owned 0.39% of First Guaranty Bancshares worth $527,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 39.52% of the company's stock.

First Guaranty Bancshares Company Profile

First Guaranty Bancshares, Inc. is a bank holding company whose principal subsidiary, First Guaranty Bank, provides commercial and personal banking services. Its offerings include deposit accounts, business and consumer loans, and related banking services for individuals, businesses, and organizations. Founded in 1934, First Guaranty Bank is headquartered in Hammond, Louisiana. The bank serves customers through locations in Louisiana and Texas, as well as digital banking channels.

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