First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Sees Significant Increase in Short Interest

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) saw a large growth in short interest in November. As of November 29th, there was short interest totalling 15,900 shares, a growth of 18.7% from the November 14th total of 13,400 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average trading volume of 6,100 shares, the days-to-cover ratio is presently 2.6 days.

FGBI traded up $0.05 during trading on Thursday, reaching $21.66. 168 shares of the company traded hands, compared to its average volume of 4,526. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.91 and a current ratio of 0.91. First Guaranty Bancshares has a 12-month low of $18.00 and a 12-month high of $23.67. The firm has a fifty day simple moving average of $20.77 and a 200 day simple moving average of $20.72. The company has a market cap of $185.19 million, a P/E ratio of 14.32 and a beta of 0.44.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC grew its holdings in First Guaranty Bancshares by 10.2% during the 2nd quarter. SG Americas Securities LLC now owns 5,978 shares of the bank’s stock valued at $125,000 after buying an additional 554 shares in the last quarter. Northern Trust Corp grew its holdings in First Guaranty Bancshares by 4.1% during the 2nd quarter. Northern Trust Corp now owns 47,517 shares of the bank’s stock valued at $991,000 after buying an additional 1,891 shares in the last quarter. Acadian Asset Management LLC grew its holdings in First Guaranty Bancshares by 403.6% during the 2nd quarter. Acadian Asset Management LLC now owns 3,374 shares of the bank’s stock valued at $70,000 after buying an additional 2,704 shares in the last quarter. Wells Fargo & Company MN grew its holdings in First Guaranty Bancshares by 45.0% during the 2nd quarter. Wells Fargo & Company MN now owns 11,370 shares of the bank’s stock valued at $237,000 after buying an additional 3,530 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in First Guaranty Bancshares by 1.6% during the 2nd quarter. BlackRock Inc. now owns 228,405 shares of the bank’s stock valued at $4,761,000 after buying an additional 3,608 shares in the last quarter. 11.26% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on FGBI shares. ValuEngine raised shares of First Guaranty Bancshares from a “sell” rating to a “hold” rating in a report on Monday, September 16th. TheStreet lowered shares of First Guaranty Bancshares from a “b” rating to a “c+” rating in a report on Friday, December 6th.

About First Guaranty Bancshares

First Guaranty Bancshares, Inc operates as the holding company for First Guaranty Bank that provides commercial banking services to businesses, professionals, and individuals in Louisiana and Texas. It offers various deposit products, including personal and business checking, savings, money market, and demand accounts, as well as time deposits.

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