Short Interest in First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Decreases By 17.8%

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 25,400 shares, a decline of 17.8% from the March 15th total of 30,900 shares. Based on an average trading volume of 12,800 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.5% of the shares of the company are sold short.

Insider Buying and Selling at First Guaranty Bancshares

In related news, Director Bruce Mcanally acquired 24,615 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average price of $8.47 per share, with a total value of $208,489.05. Following the acquisition, the director now owns 145,839 shares of the company’s stock, valued at approximately $1,235,256.33. This trade represents a 20.31 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edgar R. Smith III bought 98,460 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was bought at an average price of $8.47 per share, with a total value 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 123,175 shares of company stock valued at $1,043,292 in the last 90 days. 46.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Guaranty Bancshares

A number of institutional investors have recently made changes to their positions in FGBI. LPL Financial LLC bought a new position in First Guaranty Bancshares in the fourth quarter valued at $400,000. 683 Capital Management LLC purchased a new position in shares of First Guaranty Bancshares during the 4th quarter valued at about $296,000. Millennium Management LLC bought a new stake in First Guaranty Bancshares in the 4th quarter worth approximately $172,000. Ameriprise Financial Inc. bought a new position in First Guaranty Bancshares during the fourth quarter valued at approximately $149,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of First Guaranty Bancshares during the fourth quarter worth approximately $122,000. Institutional investors own 39.52% of the company’s stock.

First Guaranty Bancshares Price Performance

Shares of FGBI traded down $0.35 during mid-day trading on Monday, reaching $9.49. 32,158 shares of the stock traded hands, compared to its average volume of 12,562. The company has a market cap of $118.67 million, a price-to-earnings ratio of 11.72 and a beta of 0.37. First Guaranty Bancshares has a 1 year low of $6.56 and a 1 year high of $15.25. The firm has a fifty day moving average price of $8.18 and a 200 day moving average price of $10.27. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.91.

First Guaranty Bancshares (NASDAQ:FGBI) last announced its earnings results on Monday, February 3rd. The bank reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.13). First Guaranty Bancshares had a return on equity of 5.62% and a net margin of 5.04%. As a group, equities research analysts predict that First Guaranty Bancshares will post 0.89 earnings per share for the current year.

First Guaranty Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.42%. First Guaranty Bancshares’s dividend payout ratio is presently 4.94%.

About First Guaranty Bancshares

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.