First Guaranty Bancshares (NASDAQ:FGBI) Releases Earnings Results

First Guaranty Bancshares (NASDAQ:FGBI) posted its quarterly earnings results on Thursday. The bank reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.10, reports. First Guaranty Bancshares had a return on equity of 5.82% and a net margin of 5.32%. The firm had revenue of $27.10 million during the quarter, compared to analysts’ expectations of $24.13 million.

First Guaranty Bancshares Stock Performance

Shares of FGBI stock opened at $10.73 on Friday. First Guaranty Bancshares has a 52 week low of $8.39 and a 52 week high of $13.32. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average price of $10.46 and a 200-day moving average price of $10.27. The firm has a market capitalization of $134.23 million, a PE ratio of 12.77 and a beta of 0.30.

First Guaranty Bancshares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.98%. The ex-dividend date was Friday, September 20th. First Guaranty Bancshares’s dividend payout ratio is currently 38.10%.

Institutional Trading of First Guaranty Bancshares

Several large investors have recently modified their holdings of FGBI. Renaissance Technologies LLC purchased a new position in shares of First Guaranty Bancshares in the second quarter worth approximately $138,000. Empowered Funds LLC boosted its stake in shares of First Guaranty Bancshares by 8.0% during the 1st quarter. Empowered Funds LLC now owns 37,585 shares of the bank’s stock worth $381,000 after acquiring an additional 2,800 shares during the last quarter. Cullen Investment Group LTD. grew its position in shares of First Guaranty Bancshares by 1.8% during the 2nd quarter. Cullen Investment Group LTD. now owns 73,049 shares of the bank’s stock valued at $657,000 after acquiring an additional 1,274 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of First Guaranty Bancshares by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 272,035 shares of the bank’s stock worth $2,761,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors own 39.52% of the company’s stock.

About First Guaranty Bancshares

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.