First Guaranty Bancshares (FGBI) shares ended the last trading session 6.7% higher at $8.14. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.7% gain over the past four weeks.
Shares of First Guaranty Bancshares rallied for the second consecutive trading session yesterday. The postponement of tariffs for 90 days seems to have provided some relief to the bank investors. Hence, FGBI shares moved higher yesterday.
This bank holding company is expected to post quarterly earnings of $0.17 per share in its upcoming report, which represents a year-over-year change of +21.4%. Revenues are expected to be $24.56 million, up 1.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For First Guaranty Bancshares, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FGBI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
First Guaranty Bancshares belongs to the Zacks Banks - Southeast industry. Another stock from the same industry, Home Bancorp (HBCP), closed the last trading session 1.5% higher at $42.24. Over the past month, HBCP has returned -6.7%.
For Home Bancorp
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First Guaranty Bancshares, Inc. (FGBI): Free Stock Analysis Report Home Bancorp, Inc. (HBCP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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