First Guaranty Bancshares (FGBI) Stock Rating Upgraded by BidaskClub

First Guaranty Bancshares (NASDAQ:FGBI) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Tuesday.

FGBI has been the topic of a number of other research reports. Sandler O’Neill set a $29.00 price target on shares of First Guaranty Bancshares and gave the stock a “hold” rating in a report on Wednesday, August 30th. ValuEngine cut shares of First Guaranty Bancshares from a “buy” rating to a “hold” rating in a report on Friday, December 1st.

First Guaranty Bancshares (NASDAQ FGBI) traded up $0.17 during trading hours on Tuesday, hitting $29.05. 5,541 shares of the company were exchanged, compared to its average volume of 10,349. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $257.89, a PE ratio of 20.00 and a beta of 0.66. First Guaranty Bancshares has a 52 week low of $21.06 and a 52 week high of $29.95.

First Guaranty Bancshares (NASDAQ:FGBI) last posted its quarterly earnings results on Monday, October 30th. The bank reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). First Guaranty Bancshares had a return on equity of 9.29% and a net margin of 17.30%.

In other First Guaranty Bancshares news, Director William K. Hood bought 3,285 shares of the stock in a transaction on Wednesday, November 1st. The shares were acquired at an average price of $27.00 per share, with a total value of $88,695.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William K. Hood bought 18,987 shares of the stock in a transaction on Thursday, December 7th. The shares were acquired at an average cost of $29.00 per share, for a total transaction of $550,623.00. The disclosure for this purchase can be found here. Insiders own 42.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Banc Funds Co. LLC raised its holdings in First Guaranty Bancshares by 11.7% during the 2nd quarter. Banc Funds Co. LLC now owns 103,264 shares of the bank’s stock valued at $2,813,000 after acquiring an additional 10,787 shares during the period. Vanguard Group Inc. grew its position in shares of First Guaranty Bancshares by 142.5% during the 2nd quarter. Vanguard Group Inc. now owns 78,681 shares of the bank’s stock valued at $2,143,000 after purchasing an additional 46,235 shares in the last quarter. Kennedy Capital Management Inc. grew its position in shares of First Guaranty Bancshares by 138.7% during the 2nd quarter. Kennedy Capital Management Inc. now owns 68,353 shares of the bank’s stock valued at $1,862,000 after purchasing an additional 39,715 shares in the last quarter. State Street Corp purchased a new position in shares of First Guaranty Bancshares during the 2nd quarter valued at $979,000. Finally, Northern Trust Corp purchased a new position in shares of First Guaranty Bancshares during the 2nd quarter valued at $919,000. 11.65% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this piece on another domain, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/12/12/first-guaranty-bancshares-fgbi-stock-rating-upgraded-by-bidaskclub.html.

About First Guaranty Bancshares

First Guaranty Bancshares, Inc is a bank holding company. The Company operates through its owned subsidiary, First Guaranty Bank (the Bank). The Bank offers personalized commercial banking services to Louisiana customers, through approximately 20 banking facilities located in the Market Services Areas (MSAs).

Receive News & Ratings for First Guaranty Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Guaranty Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply