Insider Buying: First Guaranty Bancshares (NASDAQ:FGBI) Director Acquires $92,735.00 in Stock

Key Points

• Director Robert Walker purchased 8,500 FGBI shares at an average price of $10.91, investing $92,735 and increasing his ownership by 15.71% to 62,621 shares.
• First Guaranty Bancshares reported quarterly EPS of $0.17, beating the $0.09 consensus estimate, while revenue of $24.18 million also exceeded expectations. However, the company posted a negative net margin and return on equity.
• The stock recently traded at $8.03 and carries a “Reduce” average analyst rating; the company also declared a quarterly dividend of $0.01 per share, representing a 0.5% annualized yield.

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) Director Robert Walker purchased 8,500 shares of the company's stock in a transaction dated Thursday, September 10th. The stock was purchased at an average cost of $10.91 per share, for a total transaction of $92,735.00. Following the transaction, the director owned 62,621 shares of the company's stock, valued at approximately $683,195.11. This trade represents a 15.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

First Guaranty Bancshares Stock Performance

Shares of First Guaranty Bancshares stock traded down $0.19 on Friday, reaching $8.03. The stock had a trading volume of 19,993 shares, compared to its average volume of 28,445. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.73 and a current ratio of 0.73. The business's 50-day moving average price is $9.09 and its two-hundred day moving average price is $9.23. The stock has a market cap of $132.81 million, a P/E ratio of -3.32 and a beta of 0.42. First Guaranty Bancshares, Inc. has a fifty-two week low of $4.31 and a fifty-two week high of $11.02.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last announced its earnings results on Monday, July 27th. The bank reported $0.17 EPS for the quarter, topping the consensus estimate of $0.09 by $0.08. The firm had revenue of $24.18 million for the quarter, compared to the consensus estimate of $21.66 million. First Guaranty Bancshares had a negative net margin of 16.83% and a negative return on equity of 12.25%. On average, sell-side analysts forecast that First Guaranty Bancshares, Inc. will post 0.4 EPS for the current year.

First Guaranty Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 25th will be paid a $0.01 dividend. The ex-dividend date is Friday, September 25th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.5%. First Guaranty Bancshares's payout ratio is presently -1.65%.

Analyst Ratings Changes

Several brokerages recently weighed in on FGBI. Weiss Ratings downgraded First Guaranty Bancshares from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, August 14th. Wall Street Zen raised First Guaranty Bancshares to a "hold" rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce".

Institutional Investors Weigh In On First Guaranty Bancshares

A number of institutional investors have recently added to or reduced their stakes in FGBI. Empowered Funds LLC increased its stake in First Guaranty Bancshares by 8.8% during the first quarter. Empowered Funds LLC now owns 46,048 shares of the bank's stock valued at $355,000 after acquiring an additional 3,742 shares during the period. Acadian Asset Management LLC grew its holdings in shares of First Guaranty Bancshares by 11.1% during the 1st quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank's stock worth $379,000 after purchasing an additional 4,956 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of First Guaranty Bancshares by 60.1% during the 4th quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank's stock worth $152,000 after purchasing an additional 10,641 shares in the last quarter. Barclays PLC increased its position in shares of First Guaranty Bancshares by 135.6% during the fourth 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 period. Finally, NewEdge Advisors LLC increased its position in shares of First Guaranty Bancshares by 1,288.4% during the first quarter. NewEdge Advisors LLC now owns 6,942 shares of the bank's stock valued at $56,000 after purchasing an additional 6,442 shares during the period. 39.52% of the stock is 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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