First Guaranty Bancshares (NASDAQ:FGBI) Issues Quarterly Earnings Results

Key Points

• EPS and revenue beat: First Guaranty reported $0.14 EPS vs. a $0.07 consensus and revenue of $22.90M vs. $22.15M, but still showed a negative net margin (-21.47%) and negative return on equity (-16.79%).
• Share movement and valuation: Shares rose to $9.40 on heavy volume, the stock has a market cap of $148.5M and a 52-week range of $4.31–$10.19, with a negative P/E of -2.91.
• Insider buying and dividend: Insiders purchased 202,435 shares worth about $1.57M in the quarter and now own 47.2% of the company; the bank also paid a $0.01 quarterly dividend (annualized $0.04, ~0.4% yield).

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) posted its quarterly earnings data on Monday. The bank reported $0.14 EPS for the quarter, beating the consensus estimate of $0.07 by $0.07, Zacks reports. The firm had revenue of $22.90 million during the quarter, compared to analyst estimates of $22.15 million. First Guaranty Bancshares had a negative net margin of 21.47% and a negative return on equity of 16.79%.

First Guaranty Bancshares Stock Performance

Shares of FGBI stock traded up $0.30 during trading hours on Wednesday, hitting $9.40. 179,633 shares of the company were exchanged, compared to its average volume of 18,577. The firm has a fifty day simple moving average of $8.94 and a 200 day simple moving average of $7.51. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.96. First Guaranty Bancshares has a 52-week low of $4.31 and a 52-week high of $10.19. The stock has a market capitalization of $148.47 million, a price-to-earnings ratio of -2.91 and a beta of 0.32.

First Guaranty Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 27th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. First Guaranty Bancshares's dividend payout ratio (DPR) is presently -1.25%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of First Guaranty Bancshares in a research note on Tuesday, April 21st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce".

Insider Transactions at First Guaranty Bancshares

In related news, Director Marshall T. Reynolds purchased 32,176 shares of the firm's stock in a transaction dated Tuesday, March 31st. The stock was bought at an average price of $7.77 per share, for a total transaction of $250,007.52. Following the purchase, the director directly owned 2,025,997 shares in the company, valued at approximately $15,741,996.69. This trade represents a 1.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edgar R. Smith III purchased 138,083 shares of the firm's stock in a transaction dated Tuesday, March 31st. The shares were bought at an average price of $7.77 per share, with a total value of $1,072,904.91. Following the purchase, the director owned 675,349 shares in the company, valued at $5,247,461.73. The trade was a 25.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 202,435 shares of company stock worth $1,572,920 in the last quarter. Insiders own 47.20% of the company's stock.

Institutional Investors Weigh In On First Guaranty Bancshares

Several large investors have recently modified their holdings of the stock. Acadian Asset Management LLC grew its stake in First Guaranty Bancshares by 11.1% in the 1st quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank's stock valued at $379,000 after buying an additional 4,956 shares in the last quarter. Empowered Funds LLC grew its stake in First Guaranty Bancshares by 8.8% in the 1st quarter. Empowered Funds LLC now owns 46,048 shares of the bank's stock valued at $355,000 after buying an additional 3,742 shares in the last quarter. Renaissance Technologies LLC grew its stake in First Guaranty Bancshares by 60.1% in the 4th quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank's stock valued at $152,000 after buying an additional 10,641 shares in the last quarter. Finally, Barclays PLC grew its stake in First Guaranty Bancshares by 135.6% in the 4th quarter. Barclays PLC now owns 11,478 shares of the bank's stock valued at $62,000 after buying an additional 6,606 shares in the last quarter. Hedge funds and other institutional investors own 39.52% of the company's stock.

About First Guaranty Bancshares

First Guaranty Bancshares, Inc is a financial holding company headquartered in Hammond, Louisiana. Through its principal subsidiary, First Guaranty Bank, the company provides a diversified range of commercial and retail banking services. Founded in 1932, First Guaranty Bancshares has grown from a community mutual bank into a publicly traded institution listed on the Nasdaq under the ticker FGBI.

The company's core business activities encompass traditional deposit products and lending solutions.

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