First Guaranty Bancshares (NASDAQ:FGBI) Stock Rating Lowered by 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 note issued to investors on Saturday.

First Guaranty Bancshares Price Performance

First Guaranty Bancshares stock traded down $0.20 during mid-day trading on Friday, hitting $8.85. The company's stock had a trading volume of 19,312 shares, compared to its average volume of 13,110. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $114.06 million, a P/E ratio of 10.93 and a beta of 0.43. First Guaranty Bancshares has a twelve month low of $6.56 and a twelve month high of $15.25. The stock's fifty day moving average price is $8.94 and its two-hundred day moving average price is $10.08.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The bank reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.71). The business 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%. Research analysts forecast that First Guaranty Bancshares will post 0.89 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert W. Walker acquired 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was purchased at an average price of $9.12 per share, with a total value of $27,360.00. Following the purchase, the director now owns 10,000 shares of the company's stock, valued at approximately $91,200. This trade represents a 42.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bruce Mcanally acquired 24,615 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was purchased 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 approximately $1,235,256.33. This trade represents a 20.31% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 132,900 shares of company stock worth $1,135,616. 47.20% of the stock is owned by insiders.

Institutional Investors Weigh In On First Guaranty Bancshares

A number of institutional investors have recently modified their holdings of FGBI. Arkadios Wealth Advisors boosted its stake 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 buying an additional 1,502 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of First Guaranty Bancshares during the 4th quarter valued at $149,000. Citadel Advisors LLC boosted its stake 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 buying an additional 2,894 shares during the period. Millennium Management LLC acquired a new stake in shares of First Guaranty Bancshares during the 4th quarter valued at $172,000. Finally, 683 Capital Management LLC acquired a new stake in shares of First Guaranty Bancshares during the 4th quarter valued at $296,000. Institutional investors and hedge funds own 39.52% of the company's stock.

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.