First Guaranty Bancshares (NASDAQ:FGBI) Posts Earnings Results

Key Points

• EPS beat: First Guaranty Bancshares reported Q earnings of $0.14 per share (vs. $0.07 consensus) and $22.90M revenue (vs. $22.15M) but remains unprofitable with a negative ROE (20.79%) and net margin (-25.26%), and the stock fell about 7.9% to $8.40.
• Insider buying: Two directors bought large blocks at roughly $7.77 per share (32,176 and 138,083 shares), insiders acquired 202,435 shares in the last three months, and insiders now own about 47.20% of the company.
• The company paid a $0.01 quarterly dividend (annualized $0.04, 0.5% yield) while analyst coverage is cautious — the consensus rating is "Reduce" and Weiss Ratings reiterated a "sell."

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) posted its earnings results on Monday. The bank reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.07, FiscalAI reports. The firm had revenue of $22.90 million for the quarter, compared to the consensus estimate of $22.15 million. First Guaranty Bancshares had a negative return on equity of 20.79% and a negative net margin of 25.26%.

First Guaranty Bancshares Stock Down 7.9%

FGBI stock traded down $0.72 during midday trading on Monday, hitting $8.40. The company's stock had a trading volume of 37,751 shares, compared to its average volume of 15,553. The company has a market cap of $132.64 million, a PE ratio of -2.16 and a beta of 0.32. First Guaranty Bancshares has a 12 month low of $4.31 and a 12 month high of $10.55. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.96. The firm's 50-day moving average is $8.96 and its 200-day moving average is $7.52.

First Guaranty Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 27th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.5%. First Guaranty Bancshares's dividend payout ratio is -1.03%.

Insider Activity at First Guaranty Bancshares

In other First Guaranty Bancshares news, Director Bruce Mcanally acquired 32,176 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were acquired at an average cost of $7.77 per share, with a total value of $250,007.52. Following the transaction, the director owned 332,536 shares of the company's stock, valued at $2,583,804.72. The trade was a 10.71% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edgar R. Smith III acquired 138,083 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was acquired at an average cost of $7.77 per share, for a total transaction of $1,072,904.91. Following the completion of the transaction, the director directly owned 675,349 shares in the company, valued at $5,247,461.73. This represents a 25.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 202,435 shares of company stock valued at $1,572,920. 47.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Guaranty Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its position 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 acquiring an additional 6,606 shares in the last quarter. Renaissance Technologies LLC lifted its position 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 acquiring an additional 10,641 shares in the last quarter. Empowered Funds LLC lifted its position 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 acquiring an additional 3,742 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of First Guaranty Bancshares by 11.1% during 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 during the period. 39.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d)" rating on shares of First Guaranty Bancshares in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce".

First Guaranty Bancshares Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.