First Guaranty Bancshares 8.8% Yielding Preferred: Downgrade To Hold Due To Loan Concerns
Source: SeekingAlpha
2025-06-01 23:15:17 ET
Summary
- I am downgrading First Guaranty Bancshares preferred shares to hold, due to rising nonperforming loans/deteriorating loan performance.
- Net interest margin and income are declining, with loan balances and deposits both falling sharply in the latest quarter.
- The bank's loan to deposit ratio has dropped significantly, reflecting a move to a more conservative capital position, amid growing credit risks.
- Despite the high yield, I see increased risk to dividends; I will wait for improvement in nonperforming loans before considering an upgrade.
Introduction
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First Guaranty Bancshares 8.8% Yielding Preferred: Downgrade To Hold Due To Loan Concerns
First Guaranty Bancshares Inc. 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock
NASDAQ: FGBIP
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