First Guaranty Bancshares (NASDAQ:FGBI) Director Robert Walker Buys 4,000 Shares

Key Points

• Director Robert Walker bought 4,000 shares of First Guaranty Bancshares at an average price of $17.74, investing $70,960 and increasing his position by 51.93% to 11,702 shares.
• FGBI shares traded up 2.5% to $8.70, while the bank’s latest quarterly results exceeded expectations with earnings of $0.17 per share versus the $0.09 consensus and revenue of $24.18 million.
• The company declared a quarterly dividend of $0.01 per share, equal to a 0.5% annualized yield, but analyst sentiment remains cautious with an average rating of “Reduce”.

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) Director Robert Walker bought 4,000 shares of First Guaranty Bancshares stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average cost of $17.74 per share, for a total transaction of $70,960.00. Following the purchase, the director owned 11,702 shares of the company's stock, valued at approximately $207,593.48. This trade represents a 51.93% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

First Guaranty Bancshares Trading Up 2.5%

Shares of FGBI stock traded up $0.21 during trading hours on Thursday, reaching $8.70. 19,890 shares of the stock were exchanged, compared to its average volume of 28,140. First Guaranty Bancshares, Inc. has a 12-month low of $4.31 and a 12-month high of $11.02. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.96. The company's 50-day moving average price is $8.96 and its 200-day moving average price is $9.21. The firm has a market capitalization of $143.89 million, a price-to-earnings ratio of -3.60 and a beta of 0.42.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The bank reported $0.17 earnings per share for the quarter, topping 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, equities analysts anticipate that First Guaranty Bancshares, Inc. will post 0.4 earnings per share for the current year.

First Guaranty Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 25th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 25th. First Guaranty Bancshares's dividend payout ratio (DPR) is currently -1.65%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in First Guaranty Bancshares stock. NewEdge Advisors LLC raised its holdings in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Free Report) by 1,288.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 6,942 shares of the bank's stock after purchasing an additional 6,442 shares during the period. NewEdge Advisors LLC's holdings in First Guaranty Bancshares were worth $56,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 39.52% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FGBI. Wall Street Zen upgraded First Guaranty Bancshares to a "hold" rating in a research note on Saturday, June 27th. Weiss Ratings lowered shares of First Guaranty Bancshares from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce".

First Guaranty Bancshares Company Profile

First Guaranty Bancshares, Inc is a bank holding company headquartered in Hammond, Louisiana. Through its principal subsidiary, First Guaranty Bank, the company provides community banking services to individuals, businesses and organizations.

First Guaranty Bank offers deposit products such as checking, savings and money market accounts, certificates of deposit and business deposits. Its lending activities include commercial and industrial loans, commercial real estate financing, construction and development loans, residential real estate loans, agricultural lending and consumer loans.

The bank also provides treasury management, online and mobile banking, cash management and other financial services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.