Short Interest in First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Increases By 23.5%

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 71,248 shares, an increase of 23.5% from the November 30th total of 57,695 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 24,750 shares, the days-to-cover ratio is presently 2.9 days. Based on an average daily trading volume, of 24,750 shares, the days-to-cover ratio is presently 2.9 days. Approximately 0.9% of the company’s shares are sold short.

Insider Buying and Selling

In other First Guaranty Bancshares news, Director Robert W. Walker bought 7,500 shares of First Guaranty Bancshares stock in a transaction on Wednesday, December 10th. The shares were bought at an average price of $4.54 per share, for a total transaction of $34,050.00. Following the completion of the transaction, the director directly owned 45,376 shares of the company’s stock, valued at $206,007.04. This trade represents a 19.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Edgar R. Smith III purchased 15,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was acquired at an average cost of $4.97 per share, for a total transaction of $74,550.00. Following the purchase, the director owned 2,867,467 shares in the company, valued at approximately $14,251,310.99. The trade was a 0.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 34,545 shares of company stock worth $166,575 over the last quarter. 47.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Guaranty Bancshares

An institutional investor recently raised its position in First Guaranty Bancshares stock. Empowered Funds LLC grew its stake in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) by 8.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,048 shares of the bank’s stock after purchasing an additional 3,742 shares during the quarter. Empowered Funds LLC owned approximately 0.37% of First Guaranty Bancshares worth $355,000 as of its most recent filing with the Securities and Exchange Commission. 39.52% of the stock is currently owned by hedge funds and other institutional investors.

First Guaranty Bancshares Trading Down 0.9%

Shares of NASDAQ FGBI traded down $0.05 during trading on Wednesday, reaching $5.35. The stock had a trading volume of 5,968 shares, compared to its average volume of 14,696. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $82.12 million, a P/E ratio of -1.30 and a beta of 0.36. First Guaranty Bancshares has a fifty-two week low of $4.31 and a fifty-two week high of $11.50. The business’s 50-day moving average price is $5.58 and its 200-day moving average price is $7.37.

First Guaranty Bancshares (NASDAQ:FGBI) last posted its earnings results on Friday, October 31st. The bank reported ($3.01) earnings per share (EPS) for the quarter. The firm had revenue of $24.10 million for the quarter. First Guaranty Bancshares had a negative return on equity of 20.76% and a negative net margin of 25.11%. On average, equities research analysts predict that First Guaranty Bancshares will post 0.89 EPS for the current fiscal year.

First Guaranty Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 26th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.7%. First Guaranty Bancshares’s dividend payout ratio is currently -0.97%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FGBI. Weiss Ratings restated a “sell (d)” rating on shares of First Guaranty Bancshares in a report on Wednesday, October 8th. Zacks Research raised shares of First Guaranty Bancshares from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

About First Guaranty Bancshares

First Guaranty Bancshares, Inc is a financial holding company headquartered in Hammond, Louisiana. Through its principal subsidiary, First Guaranty Bank, the company provides a diversified range of commercial and retail banking services. Founded in 1932, First Guaranty Bancshares has grown from a community mutual bank into a publicly traded institution listed on the Nasdaq under the ticker FGBI.

The company’s core business activities encompass traditional deposit products and lending solutions.