Bruce Mcanally Buys 31,056 Shares of First Guaranty Bancshares (NASDAQ:FGBI) Stock

Key Points

• Bruce Mcanally, a director at First Guaranty Bancshares, purchased 31,056 shares of the company at an average price of $8.05 per share, totaling approximately $250,000, which increased his ownership by 17.58%.
• First Guaranty Bancshares reported a loss of $0.61 per share for the last quarter, significantly missing analysts' expectations, with a negative return on equity of 4.73%.
• The company declared a quarterly dividend of $0.01 per share, with an annualized yield of 0.5%, and its dividend payout ratio stands at -3.96%.

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) Director Bruce Mcanally bought 31,056 shares of the stock in a transaction dated Tuesday, September 30th. The shares were bought at an average cost of $8.05 per share, with a total value of $250,000.80. Following the completion of the acquisition, the director directly owned 207,760 shares of the company's stock, valued at approximately $1,672,468. The trade was a 17.58% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

First Guaranty Bancshares Stock Performance

Shares of NASDAQ:FGBI traded down $0.15 during trading on Thursday, hitting $7.86. 14,424 shares of the company traded hands, compared to its average volume of 12,827. The stock has a market capitalization of $118.84 million, a price-to-earnings ratio of -7.78 and a beta of 0.38. The business's fifty day moving average is $8.21 and its 200-day moving average is $8.52. First Guaranty Bancshares, Inc. has a one year low of $6.55 and a one year high of $15.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.81.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last issued its quarterly earnings data on Monday, August 18th. The bank reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.41). First Guaranty Bancshares had a negative return on equity of 4.73% and a negative net margin of 4.49%.The business had revenue of $54.32 million during the quarter, compared to the consensus estimate of $29.20 million. As a group, equities analysts predict that First Guaranty Bancshares, Inc. will post 0.89 earnings per share for the current fiscal year.

First Guaranty Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 23rd. First Guaranty Bancshares's dividend payout ratio is -3.96%.

Hedge Funds Weigh In On First Guaranty Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FGBI. Ameriprise Financial Inc. bought a new position in First Guaranty Bancshares during the 4th quarter valued at $149,000. Citadel Advisors LLC lifted its position in shares of First Guaranty Bancshares by 26.9% during the 4th quarter. Citadel Advisors LLC now owns 13,661 shares of the bank's stock valued at $155,000 after acquiring an additional 2,894 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of First Guaranty Bancshares during the 4th quarter valued at $172,000. Arkadios Wealth Advisors lifted its position in shares of First Guaranty Bancshares by 14.0% during the 1st quarter. Arkadios Wealth Advisors now owns 12,236 shares of the bank's stock valued at $94,000 after acquiring an additional 1,502 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of First Guaranty Bancshares by 8.8% during the 1st 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 during the last quarter. 39.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Zacks Research lowered First Guaranty Bancshares from a "hold" rating to a "strong sell" rating in a report on Wednesday, September 10th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of "Sell".

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.

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