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

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

First Guaranty Bancshares Trading Down 0.4 %

FGBI stock traded down $0.04 during midday trading on Wednesday, reaching $9.95. 305 shares of the company traded hands, compared to its average volume of 13,613. First Guaranty Bancshares has a 52-week low of $6.55 and a 52-week high of $15.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.91 and a current ratio of 0.91. The business has a 50 day moving average of $8.18 and a 200-day moving average of $10.27. The firm has a market capitalization of $124.42 million, a price-to-earnings ratio of 12.28 and a beta of 0.37.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last issued 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 return on equity of 5.62% and a net margin of 5.04%. As a group, sell-side analysts expect that First Guaranty Bancshares will post 0.89 earnings per share for the current fiscal year.

First Guaranty Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 27th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.40%. First Guaranty Bancshares's payout ratio is 4.94%.

Insider Activity at First Guaranty Bancshares

In other news, Director Bruce Mcanally purchased 24,615 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was bought at an average cost of $8.47 per share, with a total value of $208,489.05. Following the completion of the purchase, the director now 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edgar R. Smith III purchased 98,460 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were purchased at an average cost of $8.47 per share, with a total value of $833,956.20. Following the completion of the purchase, the director now owns 98,460 shares of the company's stock, valued at $833,956.20. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 123,175 shares of company stock valued at $1,043,292. Insiders own 46.40% of the company's stock.

Institutional Investors Weigh In On First Guaranty Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of FGBI. Geode Capital Management LLC increased its holdings in First Guaranty Bancshares by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 68,788 shares of the bank's stock worth $733,000 after purchasing an additional 5,070 shares during the period. Empowered Funds LLC boosted its position in shares of First Guaranty Bancshares by 4.9% in the 4th quarter. Empowered Funds LLC now owns 42,306 shares of the bank's stock worth $481,000 after purchasing an additional 1,968 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of First Guaranty Bancshares in the 4th quarter worth $122,000. Millennium Management LLC acquired a new stake in shares of First Guaranty Bancshares in the 4th quarter worth $172,000. Finally, Citadel Advisors LLC increased its holdings in shares of First Guaranty Bancshares by 26.9% in the fourth quarter. Citadel Advisors LLC now owns 13,661 shares of the bank's stock valued at $155,000 after purchasing an additional 2,894 shares during the period. 39.52% of the stock is currently owned by hedge funds and other institutional investors.

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.