Reported Earnings • Jul 28
Second quarter 2026 earnings released: EPS: US$0.17 (vs US$0.61 loss in 2Q 2025) Second quarter 2026 results: EPS: US$0.17 (up from US$0.61 loss in 2Q 2025). Revenue: US$21.6m (up 177% from 2Q 2025). Net income: US$2.85m (up US$10.7m from 2Q 2025). Profit margin: 13% (up from net loss in 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Announcement • Jul 14
First Guaranty Bancshares, Inc. announced that it has received $0.794127 million in funding On July 13, 2026, First Guaranty Bancshares, Inc. closed the transaction. The transaction included participation from single investor. Recent Insider Transactions • Jul 07
Independent Director recently bought €695k worth of stock On the 30th of June, Edgar Smith bought around 75k shares on-market at roughly €9.29 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €3.9m more in shares than they have sold in the last 12 months. New Risk • Jul 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Shareholders have been diluted in the past year (28% increase in shares outstanding). Declared Dividend • Jun 15
First quarter dividend of US$0.01 announced Shareholders will receive a dividend of US$0.01. Ex-date: 26th June 2026 Payment date: 30th June 2026 Dividend yield will be 0.4%, which is lower than the industry average of 4.8%. Announcement • Apr 22
First Guaranty Bancshares, Inc., Annual General Meeting, May 21, 2026 First Guaranty Bancshares, Inc., Annual General Meeting, May 21, 2026. Location: fgb center, 206 south orange street, louisiana, hammond, United States Announcement • Apr 08
First Guaranty Bancshares, Inc. announced that it has received $1.28293 million in funding On April 7, 2026, First Guaranty Bancshares, Inc. closed the transaction. Announcement • Jan 29
First Guaranty Bancshares, Inc. Reports Charge-Offs for the Fourth Quarter Ended December 31, 2025 First Guaranty Bancshares, Inc. reported charge-offs for the fourth quarter ended December 31, 2025. The company reported Charge-offs were $47.8 million for the fourth quarter of 2025 and $4.9 million for the same period in 2024. Announcement • Jan 15
First Guaranty Bancshares, Inc. announced that it has received $2.378624 million in funding On January 14, 2026, the First Guaranty Bancshares, Inc closed the transaction. Announcement • Nov 11
First Guaranty Bancshares, Inc. announced delayed 10-Q filing On 11/10/2025, First Guaranty Bancshares, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Aug 12
First Guaranty Bancshares, Inc. announced delayed 10-Q filing On 08/11/2025, First Guaranty Bancshares, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Aug 01
First Guaranty Bancshares, Inc. Reports Charge-Offs Results for the Second Quarter Ended June 30, 2025 First Guaranty Bancshares, Inc. reported charge-offs results for the second quarter ended June 30, 2025. For the quarter, the company reported charge-offs were $1.1 million against $8.8 million during the same period in 2024. Announcement • May 23
First Guaranty Bancshares, Inc. Declares Quarterly Cash Dividend, Payable on June 30, 2025 On May 15, 2025 the Board of Directors of First Guaranty Bancshares, Inc. ("First Guaranty") declared a quarterly cash dividend on First Guaranty's outstanding shares of common stock of $0.01 per share. The dividend will be payable to shareholders of record as of June 23, 2025 and is expected to be paid on June 30, 2025. This is the 128th consecutive quarterly dividend paid to common shareholders. Announcement • Apr 21
First Guaranty Bancshares, Inc., Annual General Meeting, May 15, 2025 First Guaranty Bancshares, Inc., Annual General Meeting, May 15, 2025. Location: the fgb center, 206 south orange street, louisiana, hammond United States Announcement • Jan 31
First Guaranty Bancshares, Inc. Announces Charge-Offs for the Fourth Quarter of 2024 First Guaranty Bancshares, Inc. announced charge-offs for the fourth quarter of 2024. The company charged off charged off $4.9 million in loan balances during the fourth quarter of 2024. Announcement • Dec 27
First Guaranty Bancshares, Inc. Elects Bruce Mcanally to the Board of Directors First Guaranty Bancshares, Inc. elected Mr. Bruce McAnally to the Board of Directors for First Guaranty on December 19, 2024. Mr. McAnally has not been appointed to serve on any committees and there is no expectation that he will be appointed to any particular committee at this time. Mr. McAnally is not a party to any transaction with First Guaranty or First Guaranty Bank that would require disclosure under Item 404(a) of Securities and Exchange Commission Regulation S-K. Mr. McAnally joined the Bank's Board of Directors in June 2017 with the acquisition of Synergy Bank where he served as Chairman of the Board. Mr. McAnally is a registered pharmacist and independent pharmacy owner residing in Austin, TX. He currently serves as founder and director of RxPreferred Benefits in Nashville, TN and as director of Best Value Pharmacies in Ft. Worth, TX; and was a founder of Paragon Healthcare in Dallas, TX. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0.11 (vs US$0.10 in 3Q 2023) Third quarter 2024 results: EPS: US$0.11 (up from US$0.10 in 3Q 2023). Revenue: US$22.2m (flat on 3Q 2023). Net income: US$1.35m (up 13% from 3Q 2023). Profit margin: 6.1% (up from 5.3% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 13
Upcoming dividend of US$0.08 per share Eligible shareholders must have bought the stock before 20 September 2024. Payment date: 30 September 2024. Payout ratio is a comfortable 75% but the company is paying out more than the cash it is generating. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (6.6%). Declared Dividend • Aug 26
Second quarter dividend of US$0.08 announced Shareholders will receive a dividend of US$0.08. Ex-date: 20th September 2024 Payment date: 30th September 2024 Dividend yield will be 6.1%, which is higher than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 3.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 7.2% over the next year. However, it would need to fall by 17% to increase the payout ratio to a potentially unsustainable range. Announcement • Aug 22
First Guaranty Bancshares, Inc. Declares Quarterly Cash Dividend, Payable on September 30, 2024 On August 15, 2024 the Board of Directors of First Guaranty Bancshares, Inc. ("First Guaranty") declared a quarterly cash dividend on First Guaranty's outstanding shares of common stock of $0.08 per share. The dividend will be payable to shareholders of record as of September 20, 2024 and is expected to be paid on September 30, 2024. Announcement • Jul 26
First Guaranty Bancshares, Inc. Announces Charge-Offs for the Second Quarter Ended June 30, 2024 First Guaranty Bancshares, Inc. announced charge-offs for the second quarter ended June 30, 2024. The company charged off $8.8 million in loan balances during the second quarter of 2024. Reported Earnings • Jul 25
Second quarter 2024 earnings released: EPS: US$0.53 (vs US$0.19 in 2Q 2023) Second quarter 2024 results: EPS: US$0.53 (up from US$0.19 in 2Q 2023). Revenue: US$30.0m (up 29% from 2Q 2023). Net income: US$6.62m (up 216% from 2Q 2023). Profit margin: 22% (up from 9.0% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Declared Dividend • Jun 24
First quarter dividend of US$0.16 announced Shareholders will receive a dividend of US$0.16. Ex-date: 25th June 2024 Payment date: 28th June 2024 Dividend yield will be 7.4%, which is higher than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 3.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 44% to bring the payout ratio under control. However, EPS has declined by 19% over the last 5 years so the company would need to reverse this trend. Announcement • Jun 15
First Guaranty Bancshares, Inc. Declares Quarterly Cash Dividend, Payable on June 28, 2024 On June 14, 2024 the Board of Directors of First Guaranty Bancshares, Inc. declared a quarterly cash dividend on First Guaranty’s outstanding shares of common stock of $0.16 per share. The dividend will be payable to shareholders of record as of June 25, 2024 and is expected to be paid on June 28, 2024. Announcement • May 31
First Guaranty Bancshares, Inc. and First Guaranty Bank Announces Chief Executive Officer Changes First Guaranty Bancshares, Inc. announced that Alton Lewis will retire from his role as Chief Executive Officer of First Guaranty Bancshares, Inc. and First Guaranty Bank in May, 2024, after a dynamic and successful tenure. Mr. Lewis has been a part of the First Guaranty family for over three decades. He began his service as Board member in 1988 and became President and CEO in 2009. Under his leadership, First Guaranty grew from a $931 million institution to what it is now, $3.6 billion. Mr. Lewis was also instrumental in coordinating the IPO of the First Guaranty stock, in 2015. Additional notable achievements are that he successfully led his team through the COVID pandemic, maintaining consistent operations of all bank functions. These achievements, plus his focus on developing future leaders, position First Guaranty for continued success. Mr. Lewis will continue to be a presence at First Guaranty as he will continue to serve as Vice Chairman of the Holding Company and Bank Board of Directors. Michael Mineer will become the First Guaranty Bancshares, Inc. and First Guaranty Bank next CEO. Mr. Mineer is already part of the First Guaranty family as the Mideast Area President and brings over 35 years of banking experience to his new role. Announcement • May 30
First Guaranty Bancshares, Inc. and First Guaranty Bank Announces President Changes First Guaranty Bancshares, Inc. announced that Alton Lewis will retire from his role as President of First Guaranty Bancshares, Inc. and First Guaranty Bank in May, 2024, after a dynamic and successful tenure. Mr. Lewis has been a part of the First Guaranty family for over three decades. He began his service as Board member in 1988 and became President and CEO in 2009. Under his leadership, First Guaranty grew from a $931 million institution to what it is now, $3.6 billion. Mr. Lewis was also instrumental in coordinating the IPO of the First Guaranty stock, in 2015. Additional notable achievements are that he successfully led his team through the COVID pandemic, maintaining consistent operations of all bank functions. These achievements, plus his focus on developing future leaders, position First Guaranty for continued success. Mr. Lewis will continue to be a presence at First Guaranty as he will continue to serve as Vice Chairman of the Holding Company and Bank Board of Directors. Michael Mineer will become the First Guaranty Bancshares, Inc. and First Guaranty Bank next President. Mr. Mineer is already part of the First Guaranty family as the Mideast Area President and brings over 35 years of banking experience to his new role. New Risk • May 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (130% payout ratio). Share price has been volatile over the past 3 months (7.3% average weekly change). Profit margins are more than 30% lower than last year (6.5% net profit margin). Shareholders have been diluted in the past year (17% increase in shares outstanding). Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: US$0.14 (vs US$0.27 in 1Q 2023) First quarter 2024 results: EPS: US$0.14 (down from US$0.27 in 1Q 2023). Revenue: US$21.9m (down 11% from 1Q 2023). Net income: US$1.73m (down 40% from 1Q 2023). Profit margin: 7.9% (down from 12% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Apr 13
First Guaranty Bancshares, Inc., Annual General Meeting, May 16, 2024 First Guaranty Bancshares, Inc., Annual General Meeting, May 16, 2024, at 14:00 Central Standard Time. Location: FGB Center, 206 South Orange Street, Hammond Louisiana United States Agenda: To elect the Board of Directors to serve until the next Annual Meeting of Shareholders and until their successors are duly elected and qualified; to approve an advisory, non-binding resolution regarding our executive compensation as described in this Proxy Statement; to ratify the appointment of Griffith, DeLaney, Hillman & Lett, CPAs, PSC as First Guaranty's independent registered public accounting firm for the year ending December 31, 2024; and to transact such other business as may properly come before the Meeting or any adjournment or postponement thereof. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: US$0.62 (vs US$2.48 in FY 2022) Full year 2023 results: EPS: US$0.62 (down from US$2.48 in FY 2022). Revenue: US$91.6m (down 15% from FY 2022). Net income: US$6.89m (down 74% from FY 2022). Profit margin: 7.5% (down from 25% in FY 2022). The decrease in margin was primarily driven by lower revenue. Net interest margin (NIM): 2.69% (down from 3.47% in FY 2022). Cost-to-income ratio: 82.9% (up from 63.3% in FY 2022). Non-performing loans: 1.47% (up from 0.58% in FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 11% per year. Upcoming Dividend • Mar 14
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 21 March 2024. Payment date: 29 March 2024. Trailing yield: 5.8%. Within top quartile of German dividend payers (5.0%). Lower than average of industry peers (6.7%). Declared Dividend • Feb 26
Fourth quarter dividend of US$0.16 announced Shareholders will receive a dividend of US$0.16. Ex-date: 21st March 2024 Payment date: 29th March 2024 Dividend yield will be 6.5%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is not covered by earnings (104% earnings payout ratio). However, the dividend is expected to be covered in 3 years' time (67% forecast payout ratio). The dividend has increased by an average of 3.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 15% to bring the payout ratio under control. EPS is expected to grow by 50% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Feb 07
Full year 2023 earnings released: EPS: US$0.62 (vs US$2.48 in FY 2022) Full year 2023 results: EPS: US$0.62 (down from US$2.48 in FY 2022). Revenue: US$91.6m (down 15% from FY 2022). Net income: US$6.89m (down 74% from FY 2022). Profit margin: 7.5% (down from 25% in FY 2022). The decrease in margin was primarily driven by lower revenue. Net interest margin (NIM): 2.69% (down from 3.47% in FY 2022). Non-performing loans: 1.47% (up from 0.58% in FY 2022). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 2.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €10.00, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 7x in the Banks industry in Europe. Total loss to shareholders of 18% over the past three years. Upcoming Dividend • Dec 14
Upcoming dividend of US$0.16 per share at 6.0% yield Eligible shareholders must have bought the stock before 21 December 2023. Payment date: 29 December 2023. Payout ratio is a comfortable 65% but the company is paying out more than the cash it is generating. Trailing yield: 6.0%. Within top quartile of German dividend payers (5.2%). In line with average of industry peers (6.3%). Announcement • Nov 22
First Guaranty Bancshares, Inc. Declares a Quarterly Cash Dividend, Payable on December 29, 2023 On November 16, 2023 the Board of Directors of First Guaranty Bancshares, Inc. ("First Guaranty") declared a quarterly cash dividend on First Guaranty's outstanding shares of common stock of $0.16 per share. The dividend will be payable to shareholders of record as of December 22, 2023 and is expected to be paid on December 29, 2023. This is the 122nd consecutive quarterly dividend paid to common shareholders. Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: US$0.10 (vs US$0.70 in 3Q 2022) Third quarter 2023 results: EPS: US$0.10 (down from US$0.70 in 3Q 2022). Revenue: US$22.3m (down 20% from 3Q 2022). Net income: US$1.19m (down 84% from 3Q 2022). Profit margin: 5.3% (down from 27% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 6% per year. Upcoming Dividend • Sep 14
Upcoming dividend of US$0.16 per share at 5.7% yield Eligible shareholders must have bought the stock before 21 September 2023. Payment date: 29 September 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 5.7%. Within top quartile of German dividend payers (4.9%). In line with average of industry peers (6.2%). Announcement • Aug 22
First Guaranty Bancshares, Inc. Declares Quarterly Cash Dividend, Payable on September 29, 2023 On August 17, 2023, the Board of Directors of First Guaranty Bancshares, Inc. declared a quarterly cash dividend on First Guaranty's outstanding shares of common stock of $0.16 per share. The dividend will be payable to shareholders of record as of September 22, 2023 and is expected to be paid on September 29, 2023. New Risk • Aug 09
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 17% Last year net profit margin: 27% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.5% average weekly change). Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risks Profit margins are more than 30% lower than last year (17% net profit margin). Shareholders have been diluted in the past year (6.7% increase in shares outstanding). Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: US$0.19 (vs US$0.70 in 2Q 2022) Second quarter 2023 results: EPS: US$0.19 (down from US$0.70 in 2Q 2022). Revenue: US$23.2m (down 18% from 2Q 2022). Net income: US$2.09m (down 72% from 2Q 2022). Profit margin: 9.0% (down from 27% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 3% per year. New Risk • Jun 29
New major risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (6.7% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €9.65, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 9.2% over the past three years. Upcoming Dividend • Jun 15
Upcoming dividend of US$0.16 per share at 4.9% yield Eligible shareholders must have bought the stock before 22 June 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 4.9%. Within top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.2%). Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €12.50, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 46% over the past three years. Announcement • May 25
First Guaranty Bancshares, Inc. announced that it has received $10.000004 million in funding First Guaranty Bancshares, Inc. announced that it has issued 714,286 common shares at a price of $14 per share for the gross proceeds of $10,000,004 on May 23, 2023. The transaction included participation from accredited investors and board of directors of the company. The transaction has been approved by the board of directors of the company. The company will issue securities pursuant to exemption provided under Regulation D. Announcement • May 23
First Guaranty Bancshares, Inc. Declares Quarterly Cash Dividend, Payable on June 30, 2023 On May 18, 2023, the Board of Directors of First Guaranty Bancshares, Inc. declared a quarterly cash dividend on First Guaranty's outstanding shares of common stock of $0.16 per share. The dividend will be payable to shareholders of record as of June 23, 2023 and is expected to be paid on June 30, 2023. This is the 120th consecutive quarterly dividend paid to common shareholders. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €12.20, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 22% over the past three years. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: US$2.48 (vs US$2.42 in FY 2021) Full year 2022 results: EPS: US$2.48 (up from US$2.42 in FY 2021). Revenue: US$107.4m (up 9.2% from FY 2021). Net income: US$26.6m (up 2.5% from FY 2021). Profit margin: 25% (down from 26% in FY 2021). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 3.47% (up from 3.44% in FY 2021). Cost-to-income ratio: 63.3% (no change from 63.3% in FY 2021). Non-performing loans: 0.58% (down from 0.83% in FY 2021). Revenue is forecast to grow 7.3% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 16
Upcoming dividend of US$0.16 per share at 4.1% yield Eligible shareholders must have bought the stock before 23 March 2023. Payment date: 31 March 2023. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.9%). Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €15.60, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 48% over the past three years. Announcement • Feb 18
First Guaranty Bancshares, Inc. Declares Quarterly Cash Dividend, Payable on March 31, 2023 On February 16, 2023, the Board of Directors of First Guaranty Bancshares, Inc. declared a quarterly cash dividend on First Guaranty's outstanding shares of common stock of $0.16 per share. The dividend will be payable to shareholders of record as of March 24, 2023 and is expected to be paid on March 31, 2023. This is the 119th consecutive quarterly dividend paid to common shareholders. Reported Earnings • Feb 02
Full year 2022 earnings released: EPS: US$2.48 (vs US$2.42 in FY 2021) Full year 2022 results: EPS: US$2.48 (up from US$2.42 in FY 2021). Revenue: US$107.4m (up 9.2% from FY 2021). Net income: US$26.6m (up 2.5% from FY 2021). Profit margin: 25% (down from 26% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.2% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 15
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 22 December 2022. Payment date: 30 December 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (6.1%). Recent Insider Transactions • Nov 16
Independent Chairman of the Board recently sold €182k worth of stock On the 14th of November, Marshall Reynolds sold around 8k shares on-market at roughly €23.20 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Marshall has been a net seller over the last 12 months, reducing personal holdings by €351k. Board Change • Oct 31
High number of new directors Director Vanessa Drew was the last director to join the board, commencing their role in 2022. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: US$0.70 (vs US$0.67 in 3Q 2021) Third quarter 2022 results: EPS: US$0.70 (up from US$0.67 in 3Q 2021). Revenue: US$28.0m (up 9.3% from 3Q 2021). Net income: US$7.47m (up 3.6% from 3Q 2021). Profit margin: 27% (down from 28% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 15
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (6.3%). Reported Earnings • Jul 29
Second quarter 2022 earnings released: EPS: US$0.70 (vs US$0.58 in 2Q 2021) Second quarter 2022 results: EPS: US$0.70 (up from US$0.58 in 2Q 2021). Revenue: US$28.1m (up 16% from 2Q 2021). Net income: US$7.54m (up 21% from 2Q 2021). Profit margin: 27% (up from 26% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 20%, compared to a 20% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 16
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 23 June 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (6.7%). Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: US$0.65 (vs US$0.47 in 1Q 2021) First quarter 2022 results: EPS: US$0.65 (up from US$0.47 in 1Q 2021). Revenue: US$26.3m (up 23% from 1Q 2021). Net income: US$7.00m (up 39% from 1Q 2021). Profit margin: 27% (up from 24% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 22%, compared to a 8.5% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. Independent Director Jack Rossi was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Mar 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$2.42. Revenue: US$98.3m (up 18% from FY 2020). Net income: US$25.9m (up 28% from FY 2020). Profit margin: 26% (up from 24% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.44% (up from 3.36% in FY 2020). Cost-to-income ratio: 63.3% (down from 68.4% in FY 2020). Non-performing loans: 0.83% (down from 1.55% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 14%, compared to a 8.9% growth forecast for the banks industry in Germany. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 11
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 18 March 2022. Payment date: 31 March 2022. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (3.5%). Lower than average of industry peers (6.2%). Reported Earnings • Jan 28
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$2.42 (up from US$1.90 in FY 2020). Revenue: US$98.3m (up 18% from FY 2020). Net income: US$25.9m (up 28% from FY 2020). Profit margin: 26% (up from 24% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.6%. Over the next year, revenue is forecast to grow 13%, compared to a 11% growth forecast for the banks industry in Germany. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 15
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 22 December 2021. Payment date: 31 December 2021. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (3.4%). Lower than average of industry peers (3.4%). Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS US$0.74 (vs US$0.53 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$25.6m (up 22% from 3Q 2020). Net income: US$7.21m (up 39% from 3Q 2020). Profit margin: 28% (up from 25% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 10
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 17 September 2021. Payment date: 30 September 2021. Trailing yield: 3.3%. Within top quartile of German dividend payers (3.2%). In line with average of industry peers (3.3%). Reported Earnings • Aug 03
Second quarter 2021 earnings released: EPS US$0.64 (vs US$0.53 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: US$24.1m (up 19% from 2Q 2020). Net income: US$6.21m (up 20% from 2Q 2020). Profit margin: 26% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jun 17
Independent Director recently bought €66k worth of stock On the 9th of June, Edgar Smith bought around 4k shares on-market at roughly €15.88 per share. In the last 3 months, there was an even bigger purchase from another insider worth €68k. Insiders have collectively bought €288k more in shares than they have sold in the last 12 months. Upcoming Dividend • Jun 12
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 18 June 2021. Payment date: 30 June 2021. Trailing yield: 3.3%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (2.7%). Recent Insider Transactions • Jun 04
Independent Director recently bought €58k worth of stock On the 26th of May, William Hood bought around 4k shares on-market at roughly €15.84 per share. In the last 3 months, they made an even bigger purchase worth €68k. Insiders have collectively bought €296k more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 29
Independent Director recently bought €68k worth of stock On the 25th of May, William Hood bought around 4k shares on-market at roughly €15.81 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €242k more in shares than they have sold in the last 12 months. Reported Earnings • May 15
First quarter 2021 earnings released: EPS US$0.52 (vs US$0.39 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$21.3m (up 12% from 1Q 2020). Net income: US$5.02m (up 31% from 1Q 2020). Profit margin: 24% (up from 20% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS US$0.52 (vs US$0.39 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$21.3m (up 12% from 1Q 2020). Net income: US$5.02m (up 31% from 1Q 2020). Profit margin: 24% (up from 20% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS US$2.09 (vs US$1.47 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$83.6m (up 28% from FY 2019). Net income: US$20.3m (up 43% from FY 2019). Profit margin: 24% (up from 22% in FY 2019). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.36% (down from 3.42% in FY 2019). Cost-to-income ratio: 68.4% (up from 66.8% in FY 2019). Non-performing loans: 1.55% (up from 1.11% in FY 2019). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 12
New 90-day high: €16.30 The company is up 16% from its price of €14.10 on 11 December 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €28.49 per share. Upcoming Dividend • Mar 12
Upcoming Dividend of US$0.16 Per Share Will be paid on the 31st of March to those who are registered shareholders by the 19th of March. The trailing yield of 3.3% is below the top quartile of German dividend payers (3.3%), and is lower than industry peers (4.0%). Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improved over the past week After last week's 16% share price gain to US$16.30, the stock is trading at a trailing P/E ratio of 9.4x, up from the previous P/E ratio of 8.1x. This compares to an average P/E of 13x in the Banks industry in Europe. Total return to shareholders over the past three years is a loss of 5.2%. Reported Earnings • Feb 07
Full year 2020 earnings released: EPS US$2.09 (vs US$1.47 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$83.6m (up 28% from FY 2019). Net income: US$20.3m (up 43% from FY 2019). Profit margin: 24% (up from 22% in FY 2019). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.36% (down from 3.42% in FY 2019). Non-performing loans: 1.55% (up from 1.11% in FY 2019). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 22
New 90-day high: €16.00 The company is up 62% from its price of €9.90 on 23 September 2020. The German market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 19% over the same period. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS US$0.53 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$21.0m (up 30% from 3Q 2019). Net income: US$5.18m (up 35% from 3Q 2019). Profit margin: 25% (up from 24% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 11
Market bids up stock over the past week After last week's 25% share price gain to US$14.70, the stock is trading at a trailing P/E ratio of 9.2x, up from the previous P/E ratio of 7.4x. This compares to an average P/E of 10x in the Banks industry in Europe. Total return to shareholders over the past three years is a loss of 8.6%. Is New 90 Day High Low • Nov 07
New 90-day high: €13.00 The company is up 27% from its price of €10.20 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is down 8.0% over the same period. Reported Earnings • Nov 04
Third quarter 2020 earnings released: EPS US$0.53 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$21.0m (up 30% from 3Q 2019). Net income: US$5.18m (up 35% from 3Q 2019). Profit margin: 25% (up from 24% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.