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

Key Points

• First Guaranty Bancshares has been upgraded to a "hold" rating by Zacks Research, while Wall Street Zen has downgraded it from "hold" to "sell."
• The company reported a loss of ($0.54) EPS for its most recent quarter, significantly missing the consensus estimate of $0.17, despite generating revenue of $56.82 million.
• Insider trading activity includes Director Robert W. Walker purchasing 3,000 shares, increasing his ownership by 42.86%, and Director Marshall T. Reynolds acquiring 30,865 shares, reflecting a 1.64% increase in his position.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) was upgraded by equities researchers at Zacks Research to a "hold" rating in a note issued to investors on Tuesday, August 12th,Zacks.com reports.

Separately, Wall Street Zen downgraded shares of First Guaranty Bancshares from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold".

First Guaranty Bancshares Trading Up 1.3%

Shares of NASDAQ FGBI traded up $0.10 on Tuesday, reaching $8.05. 469 shares of the company traded hands, compared to its average volume of 13,954. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $103.76 million, a PE ratio of -7.97 and a beta of 0.43. The company has a 50 day moving average of $8.38 and a 200 day moving average of $8.66. First Guaranty Bancshares has a fifty-two week low of $6.55 and a fifty-two week high of $15.25.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last announced its earnings results on Monday, August 18th. The bank reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.41). First Guaranty Bancshares had a negative net margin of 4.49% and a negative return on equity of 4.77%. The company had revenue of $54.32 million for the quarter, compared to analysts' expectations of $29.20 million. On average, equities research analysts forecast that First Guaranty Bancshares will post 0.89 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Marshall T. Reynolds purchased 30,865 shares of First Guaranty Bancshares stock in a transaction on Monday, June 30th. The stock was purchased at an average cost of $8.10 per share, with a total value of $250,006.50. Following the acquisition, the director directly owned 1,916,468 shares in the company, valued at approximately $15,523,390.80. This trade represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 47.20% of the company's stock.

Hedge Funds Weigh In On First Guaranty Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors lifted its position in shares of First Guaranty Bancshares by 14.0% in the 1st quarter. Arkadios Wealth Advisors now owns 12,236 shares of the bank's stock worth $94,000 after acquiring an additional 1,502 shares during the period. Ameriprise Financial Inc. bought a new position in First Guaranty Bancshares in the fourth quarter worth $149,000. Citadel Advisors LLC boosted its stake in First Guaranty Bancshares by 26.9% during the fourth quarter. Citadel Advisors LLC now owns 13,661 shares of the bank's stock worth $155,000 after buying an additional 2,894 shares in the last quarter. Millennium Management LLC bought a new stake in First Guaranty Bancshares in the 4th quarter valued at $172,000. Finally, 683 Capital Management LLC acquired a new position in First Guaranty Bancshares in the fourth quarter worth about $296,000. 39.52% of the stock is currently owned by institutional investors.

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.