First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Forecasted to Post FY2023 Earnings of $1.29 Per Share

First Guaranty Bancshares, Inc. (NASDAQ:FGBI – Get Rating) – Research analysts at DA Davidson issued their FY2023 earnings per share (EPS) estimates for shares of First Guaranty Bancshares in a report issued on Tuesday, March 14th. DA Davidson analyst K. Fitzsimmons expects that the bank will earn $1.29 per share for the year. The consensus estimate for First Guaranty Bancshares’ current full-year earnings is $1.46 per share. DA Davidson also issued estimates for First Guaranty Bancshares’ FY2024 earnings at $1.59 EPS.

Separately, Piper Sandler dropped their target price on shares of First Guaranty Bancshares from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, February 8th.

First Guaranty Bancshares Trading Up 8.4 %

Shares of First Guaranty Bancshares stock opened at $16.80 on Thursday. The company has a market capitalization of $180.10 million, a P/E ratio of 6.80 and a beta of 0.44. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 0.89. The company has a fifty day moving average of $21.16 and a 200 day moving average of $22.35. First Guaranty Bancshares has a fifty-two week low of $14.96 and a fifty-two week high of $29.65.

First Guaranty Bancshares (NASDAQ:FGBI – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The bank reported $0.42 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.12). The company had revenue of $25.86 million during the quarter, compared to analysts’ expectations of $28.16 million. First Guaranty Bancshares had a return on equity of 14.93% and a net margin of 19.57%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new position in First Guaranty Bancshares in the 3rd quarter worth $27,000. Royal Bank of Canada bought a new position in shares of First Guaranty Bancshares during the 1st quarter valued at about $32,000. BNP Paribas Arbitrage SA bought a new position in shares of First Guaranty Bancshares during the 2nd quarter valued at about $34,000. Barclays PLC boosted its holdings in shares of First Guaranty Bancshares by 377.7% during the 4th quarter. Barclays PLC now owns 1,629 shares of the bank’s stock valued at $38,000 after purchasing an additional 1,288 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC boosted its holdings in shares of First Guaranty Bancshares by 46.3% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 2,073 shares of the bank’s stock valued at $45,000 after purchasing an additional 656 shares during the last quarter. Institutional investors own 12.33% of the company’s stock.

First Guaranty Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 24th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.81%. The ex-dividend date is Thursday, March 23rd. First Guaranty Bancshares’s dividend payout ratio is currently 25.91%.

About First Guaranty Bancshares

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First Guaranty Bancshares, Inc engages in the provision of personalized commercial banking services to businesses, professionals, and individuals. Its services include personal checking, money market, loans, courtesy sweep, business checking, cash management, courtesy pay, and digital. The company was founded on July 27, 2007 and is headquartered in Hammond, LA.