First Guaranty Bancshares (NASDAQ:FGBI) Upgraded at Zacks Research

Zacks Research upgraded shares of First Guaranty Bancshares (NASDAQ:FGBI) from a strong sell rating to a hold rating in a research report released on Monday,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of First Guaranty Bancshares in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce”.

First Guaranty Bancshares Trading Down 2.4%

Shares of FGBI opened at $4.49 on Monday. First Guaranty Bancshares has a 1-year low of $4.31 and a 1-year high of $13.20. The company has a market capitalization of $68.92 million, a P/E ratio of -1.09 and a beta of 0.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s 50 day simple moving average is $6.56 and its 200 day simple moving average is $7.74.

First Guaranty Bancshares (NASDAQ:FGBI) last issued its quarterly earnings results on Friday, October 31st. The bank reported ($3.01) EPS for the quarter. The company had revenue of $24.10 million during the quarter. First Guaranty Bancshares had a negative return on equity of 20.76% and a negative net margin of 25.11%. Sell-side analysts forecast that First Guaranty Bancshares will post 0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at First Guaranty Bancshares

In related news, Director Marshall T. Reynolds bought 31,056 shares of the stock in a transaction dated Tuesday, September 30th. The stock was bought at an average price of $8.05 per share, with a total value of $250,000.80. Following the purchase, the director owned 1,947,524 shares in the company, valued at approximately $15,677,568.20. The trade was a 1.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce Mcanally bought 31,056 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average price of $8.05 per share, with a total value of $250,000.80. Following the completion of the acquisition, the director directly owned 207,760 shares in the company, valued at $1,672,468. This trade represents a 17.58% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 224,740 shares of company stock worth $1,744,192 over the last three months. Company insiders own 47.20% of the company’s stock.

Institutional Trading of First Guaranty Bancshares

An institutional investor recently raised its position in First Guaranty Bancshares stock. Acadian Asset Management LLC grew its stake in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) by 11.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,565 shares of the bank’s stock after purchasing an additional 4,956 shares during the quarter. Acadian Asset Management LLC owned approximately 0.38% of First Guaranty Bancshares worth $379,000 at the end of the most recent quarter. Hedge funds and other 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.