Insider Buying: First Guaranty Bancshares (NASDAQ:FGBI) Director Buys $68,698.16 in Stock

Key Points

• Director Robert Walker purchased 3,593 shares of First Guaranty Bancshares at an average price of $19.12, investing $68,698.16 and increasing his position by 223.31% to 5,202 shares.
• FGBI shares recently traded at $9.10, with a market capitalization of approximately $150.5 million and a 12-month range of $4.31 to $11.02.
• The bank exceeded quarterly earnings expectations, reporting $0.17 in EPS versus the $0.09 estimate and $24.18 million in revenue, but analysts maintain a consensus rating of “Reduce” amid negative margins and return on equity.

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) Director Robert Walker bought 3,593 shares of First Guaranty Bancshares stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average price of $19.12 per share, with a total value of $68,698.16. Following the completion of the acquisition, the director owned 5,202 shares in the company, valued at approximately $99,462.24. The trade was a 223.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

First Guaranty Bancshares Stock Performance

First Guaranty Bancshares stock traded down $0.03 during trading hours on Thursday, reaching $9.10. 32,194 shares of the company were exchanged, compared to its average volume of 29,471. The firm has a market cap of $150.51 million, a price-to-earnings ratio of -3.76 and a beta of 0.44. The company has a current ratio of 0.73, a quick ratio of 0.75 and a debt-to-equity ratio of 0.96. The stock has a 50-day moving average of $9.71 and a 200 day moving average of $9.31. First Guaranty Bancshares, Inc. has a 12 month low of $4.31 and a 12 month high of $11.02.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The bank reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.08. First Guaranty Bancshares had a negative net margin of 16.83% and a negative return on equity of 12.25%. The company had revenue of $24.18 million for the quarter, compared to analyst estimates of $21.66 million. As a group, research analysts anticipate that First Guaranty Bancshares, Inc. will post 0.4 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on FGBI. Weiss Ratings downgraded shares of First Guaranty Bancshares from a "sell (d)" rating to a "sell (d-)" rating in a report on Friday, August 14th. Wall Street Zen upgraded shares of First Guaranty Bancshares to a "hold" rating in a report on Saturday, June 27th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, First Guaranty Bancshares has a consensus rating of "Reduce".

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. NewEdge Advisors LLC grew its stake in shares of First Guaranty Bancshares by 1,288.4% in the first quarter. NewEdge Advisors LLC now owns 6,942 shares of the bank's stock worth $56,000 after acquiring an additional 6,442 shares during the last quarter. Barclays PLC raised its stake in First Guaranty Bancshares by 135.6% during the 4th quarter. Barclays PLC now owns 11,478 shares of the bank's stock valued at $62,000 after purchasing an additional 6,606 shares during the last quarter. Renaissance Technologies LLC raised its stake in First Guaranty Bancshares by 60.1% during the 4th quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank's stock valued at $152,000 after purchasing an additional 10,641 shares during the last quarter. Empowered Funds LLC boosted its holdings in 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. Finally, Acadian Asset Management LLC boosted its holdings in First Guaranty Bancshares by 11.1% in the 1st quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank's stock valued at $379,000 after purchasing an additional 4,956 shares during the period. 39.52% of the stock is currently owned by institutional investors and hedge funds.

First Guaranty Bancshares Company Profile

First Guaranty Bancshares, Inc is a financial holding company headquartered in Hammond, Louisiana. Through its principal subsidiary, First Guaranty Bank, the company provides a diversified range of commercial and retail banking services. Founded in 1932, First Guaranty Bancshares has grown from a community mutual bank into a publicly traded institution listed on the Nasdaq under the ticker FGBI.

The company's core business activities encompass traditional deposit products and lending solutions.

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