First Guaranty Bancshares (NASDAQ:FGBI) Director Edgar Smith III Buys 138,083 Shares

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Director Edgar Smith III purchased 138,083 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were purchased at an average cost of $7.77 per share, for a total transaction of $1,072,904.91. Following the completion of the purchase, the director directly owned 675,349 shares of the company’s stock, valued at approximately $5,247,461.73. This represents a 25.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

First Guaranty Bancshares Trading Up 4.4%

Shares of First Guaranty Bancshares stock traded up $0.39 on Thursday, hitting $9.20. The stock had a trading volume of 34,623 shares, compared to its average volume of 14,950. The stock has a 50 day moving average of $8.69 and a 200 day moving average of $7.37. First Guaranty Bancshares, Inc. has a twelve month low of $4.31 and a twelve month high of $10.55. 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 firm has a market capitalization of $141.25 million, a P/E ratio of -2.37 and a beta of 0.31.

First Guaranty Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 27th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. First Guaranty Bancshares’s dividend payout ratio (DPR) is presently -1.03%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FGBI shares. Weiss Ratings restated a “sell (d)” rating on shares of First Guaranty Bancshares in a report on Thursday, January 22nd. Zacks Research raised First Guaranty Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

Institutional Trading of First Guaranty Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FGBI. Empowered Funds LLC lifted its position in shares of First Guaranty Bancshares by 8.8% in the 1st quarter. Empowered Funds LLC now owns 46,048 shares of the bank’s stock worth $355,000 after purchasing an additional 3,742 shares during the period. Acadian Asset Management LLC increased its position in shares of First Guaranty Bancshares by 11.1% during the first quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank’s stock worth $379,000 after buying an additional 4,956 shares during the period. Barclays PLC raised its stake in First Guaranty Bancshares by 135.6% during the fourth quarter. Barclays PLC now owns 11,478 shares of the bank’s stock worth $62,000 after buying an additional 6,606 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in First Guaranty Bancshares by 60.1% in the fourth quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock valued at $152,000 after buying an additional 10,641 shares during the period. Institutional investors and hedge funds own 39.52% of the company’s stock.

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.