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

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 25,400 shares, a drop of 17.8% from the March 15th total of 30,900 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily volume of 12,800 shares, the short-interest ratio is currently 2.0 days.

Insider Transactions at First Guaranty Bancshares

In related news, Director Edgar R. Smith III acquired 98,460 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were bought at an average cost of $8.47 per share, for a total transaction of $833,956.20. Following the purchase, the director now owns 98,460 shares in the company, valued at $833,956.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce Mcanally bought 24,615 shares of First Guaranty Bancshares stock in a transaction on Monday, March 31st. The shares were bought at an average cost of $8.47 per share, with a total value of $208,489.05. Following the acquisition, the director now directly owns 145,839 shares in the company, valued at approximately $1,235,256.33. This represents a 20.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 123,175 shares of company stock worth $1,043,292 over the last quarter. Corporate insiders own 46.40% of the company’s stock.

Institutional Investors Weigh In On First Guaranty Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. LPL Financial LLC bought a new position in shares of First Guaranty Bancshares in the fourth quarter worth approximately $400,000. 683 Capital Management LLC purchased a new position in shares of First Guaranty Bancshares in the fourth quarter valued at about $296,000. Millennium Management LLC purchased a new stake in shares of First Guaranty Bancshares during the fourth quarter worth about $172,000. Ameriprise Financial Inc. purchased a new position in First Guaranty Bancshares in the 4th quarter worth approximately $149,000. Finally, Arkadios Wealth Advisors bought a new position in First Guaranty Bancshares in the 4th quarter worth approximately $122,000. 39.52% of the stock is currently owned by hedge funds and other institutional investors.

First Guaranty Bancshares Price Performance

Shares of NASDAQ:FGBI traded up $0.22 on Tuesday, hitting $9.71. The company’s stock had a trading volume of 1,722 shares, compared to its average volume of 13,476. The company has a 50-day simple moving average of $8.18 and a 200 day simple moving average of $10.27. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $121.36 million, a PE ratio of 11.98 and a beta of 0.37. First Guaranty Bancshares has a 1 year low of $6.55 and a 1 year high of $15.25.

First Guaranty Bancshares (NASDAQ:FGBI) last announced its quarterly earnings results on Monday, February 3rd. The bank reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.13). First Guaranty Bancshares had a net margin of 5.04% and a return on equity of 5.62%. Sell-side analysts forecast that First Guaranty Bancshares will post 0.89 EPS for the current fiscal year.

First Guaranty Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.41%. First Guaranty Bancshares’s payout ratio is presently 4.94%.

First Guaranty Bancshares Company Profile

First Guaranty Bancshares, Inc operates as the holding company for First Guaranty Bank that provides commercial banking services 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 to consumers, small businesses, and municipalities.