Insider Buying: First Guaranty Bancshares (NASDAQ:FGBI) Director Purchases $59,000.00 in Stock

Key Points

• Director Edgar Smith III bought 5,000 shares for $59,000 at $11.80 each, increasing his stake by 0.17% to about 2.87 million shares.
• First Guaranty reported quarterly EPS of $0.69, beating the $0.12 consensus estimate, and revenue of $37.47 million versus expectations of $21.24 million.
• The stock rose to $12.32 in Monday trading, near its one-year high of $12.63; analysts’ average rating is “Reduce,” with one Hold and one Sell rating.

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) Director Edgar Smith III purchased 5,000 shares of the firm's stock in a transaction on Friday, November 6th. The stock was bought at an average price of $11.80 per share, for a total transaction of $59,000.00. Following the completion of the transaction, the director directly owned 2,872,467 shares in the company, valued at approximately $33,895,110.60. The trade was a 0.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

First Guaranty Bancshares Stock Performance

Shares of NASDAQ:FGBI traded up $0.58 on Monday, hitting $12.32. 76,290 shares of the company were exchanged, compared to its average volume of 28,546. The company's 50 day moving average price is $8.68 and its two-hundred day moving average price is $9.09. First Guaranty Bancshares, Inc. has a one year low of $4.31 and a one year high of $12.63. 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 firm has a market capitalization of $203.77 million, a price-to-earnings ratio of 9.63 and a beta of 0.43.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last released its earnings results on Tuesday, October 27th. The bank reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.57. First Guaranty Bancshares had a net margin of 9.17% and a return on equity of 10.67%. The business had revenue of $37.47 million during the quarter, compared to analysts' expectations of $21.24 million.

First Guaranty Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 25th were given a dividend of $0.01 per share. The ex-dividend date was Friday, September 25th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. First Guaranty Bancshares's payout ratio is currently 3.12%.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut First Guaranty Bancshares from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, First Guaranty Bancshares has an average rating of "Reduce".

About First Guaranty Bancshares

First Guaranty Bancshares, Inc is a bank holding company headquartered in Hammond, Louisiana. It operates through its principal subsidiary, First Guaranty Bank, a community-focused financial institution serving individuals, businesses and organizations.

First Guaranty Bank offers traditional banking products and services, including checking and savings accounts, certificates of deposit, commercial and consumer lending, mortgage loans, online and mobile banking, cash-management services and other treasury-management solutions.

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