First Guaranty Bancshares (NASDAQ:FGBI) Receives Sell (D) Rating from Weiss Ratings

First Guaranty Bancshares (NASDAQ:FGBI)‘s stock had its “sell (d)” rating restated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Zacks Research lowered shares of First Guaranty Bancshares from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 10th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

First Guaranty Bancshares Stock Up 1.3%

Shares of NASDAQ FGBI opened at $9.04 on Wednesday. First Guaranty Bancshares has a 1 year low of $6.55 and a 1 year high of $15.25. The firm’s 50 day moving average price is $8.22 and its 200 day moving average price is $8.56. The firm has a market cap of $136.68 million, a P/E ratio of -8.95 and a beta of 0.37. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.88 and a current ratio of 0.88.

First Guaranty Bancshares (NASDAQ:FGBI) last announced its 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 return on equity of 4.73% and a negative net margin of 4.49%.The firm had revenue of $54.32 million for the quarter, compared to analyst estimates of $29.20 million. As a group, sell-side analysts anticipate that First Guaranty Bancshares will post 0.89 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Edgar R. Smith III acquired 141,328 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average price of $8.05 per share, for a total transaction of $1,137,690.40. Following the acquisition, the director directly owned 328,270 shares of the company’s stock, valued at $2,642,573.50. This represents a 75.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marshall T. Reynolds acquired 31,056 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was purchased at an average price of $8.05 per share, for a total transaction of $250,000.80. Following the acquisition, the director directly owned 1,947,524 shares in the company, valued at $15,677,568.20. This represents a 1.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 203,440 shares of company stock valued at $1,637,692 in the last quarter. Company insiders own 47.20% of the company’s stock.

Institutional Investors Weigh In On First Guaranty Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arkadios Wealth Advisors increased its position in shares of First Guaranty Bancshares by 14.0% in the 1st quarter. Arkadios Wealth Advisors now owns 12,236 shares of the bank’s stock worth $94,000 after purchasing an additional 1,502 shares during the last quarter. Millennium Management LLC bought a new stake in shares of First Guaranty Bancshares in the 4th quarter worth about $172,000. Empowered Funds LLC increased its position 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 worth $355,000 after purchasing an additional 3,742 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of First Guaranty Bancshares by 11.1% in 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 during the last quarter. Institutional investors own 39.52% of the company’s stock.

First Guaranty Bancshares Company Profile

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.