Edgar Smith III Buys 141,328 Shares of First Guaranty Bancshares (NASDAQ:FGBI) Stock

Key Points

• Director Edgar Smith III purchased 141,328 shares of First Guaranty Bancshares stock at an average price of $8.05, increasing his ownership by 75.60%.
• The bank reported a quarterly loss of ($0.61) earnings per share, missing analyst estimates, while having a negative net margin of 4.49% and a revenue of $54.32 million.
• First Guaranty Bancshares declared a quarterly dividend of $0.01 per share, representing a 0.5% yield, with a current payout ratio of -3.96%.

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) Director Edgar Smith III acquired 141,328 shares of the stock in a transaction on Tuesday, September 30th. The stock was bought at an average price of $8.05 per share, with a total value of $1,137,690.40. Following the transaction, the director directly owned 328,270 shares in the company, valued at approximately $2,642,573.50. This represents a 75.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First Guaranty Bancshares Price Performance

FGBI traded down $0.15 during midday trading on Thursday, hitting $7.86. The company had a trading volume of 14,424 shares, compared to its average volume of 5,361. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $118.84 million, a PE ratio of -7.78 and a beta of 0.37. First Guaranty Bancshares, Inc. has a twelve month low of $6.55 and a twelve month high of $15.25. The firm's 50-day simple moving average is $8.20 and its 200-day simple moving average is $8.52.

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

First Guaranty Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were given a dividend of $0.01 per share. The ex-dividend date was Tuesday, September 23rd. This represents a $0.04 annualized dividend and a dividend yield of 0.5%. First Guaranty Bancshares's payout ratio is currently -3.96%.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of First Guaranty Bancshares from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 10th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, First Guaranty Bancshares currently has a consensus rating of "Sell".

Institutional Trading of First Guaranty Bancshares

A number of institutional investors have recently made changes to their positions in FGBI. Ameriprise Financial Inc. bought a new stake in shares of First Guaranty Bancshares in the fourth quarter worth $149,000. Citadel Advisors LLC increased its holdings in First Guaranty Bancshares by 26.9% during the fourth quarter. Citadel Advisors LLC now owns 13,661 shares of the bank's stock worth $155,000 after buying an additional 2,894 shares during the last quarter. Millennium Management LLC acquired a new position in First Guaranty Bancshares during the fourth quarter worth $172,000. Arkadios Wealth Advisors increased its holdings in First Guaranty Bancshares by 14.0% during the first quarter. Arkadios Wealth Advisors now owns 12,236 shares of the bank's stock worth $94,000 after buying an additional 1,502 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in First Guaranty Bancshares by 8.8% during the first quarter. Empowered Funds LLC now owns 46,048 shares of the bank's stock worth $355,000 after buying an additional 3,742 shares during the last quarter. 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.

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