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

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

First Guaranty Bancshares Price Performance

FGBI traded down $0.25 during trading on Friday, reaching $9.10. The stock had a trading volume of 64,959 shares, compared to its average volume of 13,534. The firm has a market capitalization of $117.28 million, a price-to-earnings ratio of 11.23 and a beta of 0.43. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. First Guaranty Bancshares has a 1-year low of $6.56 and a 1-year high of $15.25. The stock has a 50 day moving average of $8.89 and a two-hundred day moving average of $10.11.

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

Insider Buying and Selling at First Guaranty Bancshares

In other news, Director Bruce Mcanally bought 24,615 shares of the business's stock in a transaction on Monday, March 31st. The shares were bought at an average cost of $8.47 per share, with a total value of $208,489.05. Following the purchase, the director now directly owns 145,839 shares in the company, valued at $1,235,256.33. This trade represents a 20.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edgar R. Smith III bought 98,460 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were purchased at an average cost of $8.47 per share, for a total transaction of $833,956.20. Following the completion of the purchase, the director now owns 98,460 shares in the company, valued at approximately $833,956.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 132,900 shares of company stock valued at $1,135,616 in the last three months. 46.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Guaranty Bancshares

A number of hedge funds have recently modified their holdings of the stock. Empowered Funds LLC boosted its holdings in First Guaranty Bancshares by 4.9% in the fourth quarter. Empowered Funds LLC now owns 42,306 shares of the bank's stock worth $481,000 after purchasing an additional 1,968 shares in the last quarter. LPL Financial LLC bought a new stake in First Guaranty Bancshares in the fourth quarter worth $400,000. 683 Capital Management LLC bought a new stake in First Guaranty Bancshares in the fourth quarter worth $296,000. Bridgeway Capital Management LLC boosted its holdings in First Guaranty Bancshares by 1.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 82,497 shares of the bank's stock worth $937,000 after purchasing an additional 1,242 shares in the last quarter. Finally, Arkadios Wealth Advisors bought a new stake in First Guaranty Bancshares in the fourth quarter worth $122,000. 39.52% of the stock is owned by institutional investors and hedge funds.

About First Guaranty Bancshares

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.