First Guaranty Bancshares (NASDAQ:FGBI) Stock Rating Lowered by Zacks Research

Key Points

• First Guaranty Bancshares has been downgraded by Zacks Research from a "hold" rating to a "strong sell" rating, reflecting a negative outlook for the company's stock.
• The bank reported negative earnings of $0.61 per share for the most recent quarter, significantly missing analysts' expectations and indicating financial struggles.
• Insider transactions show Director Marshall T. Reynolds purchased 30,865 shares of the company at $8.10 per share, increasing his ownership stake amidst the declining stock ratings.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Wednesday, September 10th,Zacks.com reports.

Separately, Wall Street Zen lowered First Guaranty Bancshares from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, First Guaranty Bancshares presently has a consensus rating of "Sell".

First Guaranty Bancshares Trading Up 0.2%

Shares of FGBI traded up $0.02 during mid-day trading on Wednesday, reaching $8.20. The company's stock had a trading volume of 1,291 shares, compared to its average volume of 13,286. First Guaranty Bancshares has a 52 week low of $6.55 and a 52 week high of $15.25. The stock has a market cap of $123.98 million, a PE ratio of -8.12 and a beta of 0.40. The company's fifty day moving average price is $8.35 and its two-hundred day moving average price is $8.46. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.81.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last posted its quarterly earnings results 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 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. On average, analysts predict that First Guaranty Bancshares will post 0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Guaranty Bancshares news, Director Marshall T. Reynolds acquired 30,865 shares of the business's stock in a transaction dated Monday, June 30th. The shares were purchased at an average cost of $8.10 per share, for a total transaction of $250,006.50. Following the transaction, the director owned 1,916,468 shares in the company, valued at $15,523,390.80. This represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 47.20% of the company's stock.

Institutional Trading of First Guaranty Bancshares

Large investors have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its position in First Guaranty Bancshares by 48.8% during the 4th quarter. Northern Trust Corp now owns 26,780 shares of the bank's stock valued at $304,000 after purchasing an additional 8,780 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of First Guaranty Bancshares during the fourth quarter valued at about $149,000. Citadel Advisors LLC increased its position in shares of First Guaranty Bancshares by 26.9% during the fourth 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 bought a new position in First Guaranty Bancshares in the fourth quarter worth about $172,000. Finally, Arkadios Wealth Advisors lifted its holdings in First Guaranty Bancshares by 14.0% in 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 period. Institutional investors 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.