First Guaranty Bancshares (NASDAQ:FGBI) Releases Earnings Results, Misses Expectations By $0.41 EPS

Key Points

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First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) announced its quarterly earnings data on Monday. The bank reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.41), Zacks reports. First Guaranty Bancshares had a return on equity of 1.78% and a net margin of 1.59%. The firm had revenue of $54.32 million during the quarter, compared to analysts' expectations of $29.20 million.

First Guaranty Bancshares Stock Performance

Shares of NASDAQ FGBI opened at $8.01 on Tuesday. 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 cap of $103.23 million, a price-to-earnings ratio of 61.62 and a beta of 0.43. The company has a 50 day simple moving average of $8.39 and a two-hundred day simple moving average of $8.67. First Guaranty Bancshares has a 12 month low of $6.55 and a 12 month high of $15.25.

Insider Buying and Selling at First Guaranty Bancshares

In related news, Director Marshall T. Reynolds purchased 30,865 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average price of $8.10 per share, with a total value of $250,006.50. Following the acquisition, the director owned 1,916,468 shares in the company, valued at $15,523,390.80. The trade was a 1.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 47.20% of the stock is currently owned by company insiders.

Institutional Trading of First Guaranty Bancshares

An institutional investor recently raised its position in First Guaranty Bancshares stock. Empowered Funds LLC lifted its holdings in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Free Report) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,048 shares of the bank's stock after acquiring an additional 3,742 shares during the period. Empowered Funds LLC owned 0.37% of First Guaranty Bancshares worth $355,000 at the end of the most recent reporting period. 39.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FGBI shares. Zacks Research upgraded shares of First Guaranty Bancshares to a "hold" rating in a research report on Tuesday, August 12th. Wall Street Zen downgraded shares of First Guaranty Bancshares from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th.

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.

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