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

Key Points

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First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) posted its earnings results on Monday. The bank reported ($0.61) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.41), Zacks reports. The business had revenue of $54.32 million for the quarter, compared to analyst estimates of $29.20 million. First Guaranty Bancshares had a negative return on equity of 4.73% and a negative net margin of 4.49%.

First Guaranty Bancshares Stock Performance

FGBI stock traded up $0.14 during trading hours on Friday, hitting $7.84. 2,978 shares of the stock were exchanged, compared to its average volume of 3,799. The company has a current ratio of 0.88, a quick ratio of 0.92 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $118.54 million, a P/E ratio of -7.76 and a beta of 0.43. The company has a 50-day simple moving average of $8.37 and a two-hundred day simple moving average of $8.61. First Guaranty Bancshares has a 12 month low of $6.55 and a 12 month high of $15.25.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Zacks Research raised First Guaranty Bancshares to a "hold" rating in a report on Tuesday, August 12th. Wall Street Zen lowered First Guaranty Bancshares from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Insiders Place Their Bets

In other news, Director Marshall T. Reynolds acquired 30,865 shares of the stock in a transaction on Monday, June 30th. The shares were purchased at an average price of $8.10 per share, for a total transaction of $250,006.50. Following the transaction, the director directly owned 1,916,468 shares of the company's stock, valued at approximately $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 accessible through this link. 47.20% of the stock is owned by insiders.

Institutional Trading of First Guaranty Bancshares

An institutional investor recently raised its position in First Guaranty Bancshares stock. Empowered Funds LLC lifted its stake in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,048 shares of the bank's stock after purchasing an additional 3,742 shares during the quarter. Empowered Funds LLC owned 0.37% of First Guaranty Bancshares worth $355,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.