Insider Buying: First Guaranty Bancshares (NASDAQ:FGBI) Director Buys 31,056 Shares of Stock

Key Points

• Director Marshall Reynolds of First Guaranty Bancshares purchased 31,056 shares at an average cost of $8.05, increasing his ownership to nearly 1.95 million shares.
• The company's stock recently traded down by 1.9%, closing at $7.86, with negative earnings reported of ($0.61) per share for the last quarter.
• First Guaranty Bancshares declared a quarterly dividend of $0.01 per share, reflecting a 0.5% yield, amidst a consensus rating of "Sell" from analysts.

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) Director Marshall Reynolds purchased 31,056 shares of the business's stock in a transaction dated Tuesday, September 30th. The stock was bought at an average cost of $8.05 per share, with a total value of $250,000.80. Following the completion of the acquisition, the director owned 1,947,524 shares of the company's stock, valued at approximately $15,677,568.20. The trade was a 1.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

First Guaranty Bancshares Trading Down 1.9%

Shares of NASDAQ:FGBI traded down $0.15 during midday trading on Thursday, reaching $7.86. The company's stock had a trading volume of 14,424 shares, compared to its average volume of 5,361. The business has a 50 day moving average price of $8.20 and a 200 day moving average price of $8.52. First Guaranty Bancshares, Inc. has a 1 year low of $6.55 and a 1 year high of $15.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.81. The firm has a market cap of $118.84 million, a price-to-earnings ratio of -7.78 and a beta of 0.37.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last posted its quarterly earnings results on Monday, August 18th. The bank reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.41). First Guaranty Bancshares had a negative net margin of 4.49% and a negative return on equity of 4.73%. The firm had revenue of $54.32 million for the quarter, compared to analysts' expectations of $29.20 million. Research analysts forecast that First Guaranty Bancshares, Inc. will post 0.89 EPS for the current year.

First Guaranty Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.5%. First Guaranty Bancshares's dividend payout ratio is currently -3.96%.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut First Guaranty Bancshares from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 10th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, First Guaranty Bancshares has a consensus rating of "Sell".

Hedge Funds Weigh In On First Guaranty Bancshares

A number of hedge funds have recently modified their holdings of FGBI. Arkadios Wealth Advisors boosted its position in shares of First Guaranty Bancshares by 14.0% in the first quarter. Arkadios Wealth Advisors now owns 12,236 shares of the bank's stock worth $94,000 after buying an additional 1,502 shares during the period. Ameriprise Financial Inc. acquired a new stake in First Guaranty Bancshares during the fourth quarter valued at approximately $149,000. Citadel Advisors LLC grew its position in First Guaranty Bancshares by 26.9% during the 4th quarter. Citadel Advisors LLC now owns 13,661 shares of the bank's stock worth $155,000 after acquiring an additional 2,894 shares during the last quarter. Millennium Management LLC acquired a new position in First Guaranty Bancshares during the 4th quarter worth $172,000. Finally, Empowered Funds LLC lifted its stake in shares of 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 purchasing an additional 3,742 shares during the period. 39.52% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.