First Guaranty Bancshares (NASDAQ:FGBI) Rating Increased to Hold at 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 investment analysts at Zacks Research to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Wall Street Zen lowered First Guaranty Bancshares from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th.

First Guaranty Bancshares Trading Up 1.0%

Shares of FGBI stock opened at $8.12 on Tuesday. First Guaranty Bancshares has a 52-week low of $6.55 and a 52-week high of $15.25. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $104.67 million, a PE ratio of 62.47 and a beta of 0.43. The stock has a fifty day simple moving average of $8.43 and a two-hundred day simple moving average of $8.72.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The bank reported ($0.54) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.71). First Guaranty Bancshares had a net margin of 1.59% and a return on equity of 1.78%. The company had revenue of $56.82 million for the quarter, compared to the consensus estimate of $27.90 million. On average, analysts predict that First Guaranty Bancshares will post 0.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert W. Walker bought 3,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was purchased at an average price of $9.12 per share, for a total transaction of $27,360.00. Following the acquisition, the director owned 10,000 shares in the company, valued at $91,200. This trade represents a 42.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marshall T. Reynolds purchased 30,865 shares of First Guaranty Bancshares stock in a transaction dated Monday, June 30th. The stock was acquired at an average price of $8.10 per share, for a total transaction of $250,006.50. Following the completion of the acquisition, the director owned 1,916,468 shares of the company's stock, valued at approximately $15,523,390.80. This trade represents a 1.64% increase in their position. The disclosure for this purchase can be found here. 47.20% of the stock is currently owned by insiders.

Institutional Trading of First Guaranty Bancshares

Institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC raised its stake in shares of First Guaranty Bancshares by 11.1% during the first quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank's stock valued at $379,000 after acquiring an additional 4,956 shares in the last quarter. Empowered Funds LLC grew its holdings in First Guaranty Bancshares by 8.8% in the first quarter. Empowered Funds LLC now owns 46,048 shares of the bank's stock worth $355,000 after purchasing an additional 3,742 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in shares of First Guaranty Bancshares by 14.0% during the first 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 last quarter. Millennium Management LLC purchased a new stake in shares of First Guaranty Bancshares during the fourth quarter valued at $172,000. Finally, Bridgeway Capital Management LLC grew its holdings in shares of First Guaranty Bancshares by 1.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 82,497 shares of the bank's stock valued at $937,000 after buying an additional 1,242 shares during the last quarter. Institutional investors own 39.52% of the company's stock.

First Guaranty Bancshares Company Profile

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.

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