Short Interest in First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Rises By 23.9%

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) saw a significant increase in short interest in January. As of January 15th, there was short interest totaling 123,798 shares, an increase of 23.9% from the December 31st total of 99,882 shares. Based on an average daily trading volume, of 33,102 shares, the days-to-cover ratio is presently 3.7 days. Approximately 1.5% of the shares of the stock are short sold. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 33,102 shares, the days-to-cover ratio is presently 3.7 days.

Analyst Ratings Changes

Several research firms have issued reports on FGBI. Weiss Ratings reaffirmed a “sell (d)” rating on shares of First Guaranty Bancshares in a report on Thursday, January 22nd. 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 analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

First Guaranty Bancshares Stock Performance

Shares of FGBI stock opened at $9.26 on Tuesday. The stock has a market cap of $142.14 million, a PE ratio of -2.24 and a beta of 0.32. The stock has a 50-day moving average of $6.23 and a 200-day moving average of $7.23. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.88 and a quick ratio of 0.88. First Guaranty Bancshares has a one year low of $4.31 and a one year high of $10.55.

First Guaranty Bancshares (NASDAQ:FGBI) last issued its quarterly earnings data 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 net margin of 25.11% and a negative return on equity of 20.76%. As a group, sell-side analysts expect that First Guaranty Bancshares will post 0.89 earnings per share for the current year.

First Guaranty Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 26th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, December 26th. This represents a $0.04 annualized dividend and a yield of 0.4%. First Guaranty Bancshares’s payout ratio is currently -0.97%.

Insiders Place Their Bets

In related news, Director Marshall T. Reynolds purchased 46,297 shares of First Guaranty Bancshares stock in a transaction that occurred on Wednesday, December 31st. The shares were acquired at an average price of $5.40 per share, for a total transaction of $250,003.80. Following the transaction, the director directly owned 1,993,821 shares in the company, valued at approximately $10,766,633.40. This represents a 2.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert W. Walker acquired 7,500 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were bought at an average cost of $4.54 per share, for a total transaction of $34,050.00. Following the acquisition, the director owned 45,376 shares in the company, valued at approximately $206,007.04. The trade was a 19.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 382,438 shares of company stock valued at $2,045,197. 47.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Guaranty Bancshares

A hedge fund recently raised its stake in First Guaranty Bancshares stock. Empowered Funds LLC lifted its holdings in First Guaranty Bancshares, Inc. (NASDAQ:FGBI) by 8.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 46,048 shares of the bank’s stock after purchasing an additional 3,742 shares during the quarter. Empowered Funds LLC owned about 0.37% of First Guaranty Bancshares worth $355,000 as of its most recent SEC filing. 39.52% of the stock is currently owned by hedge funds and other institutional investors.

First Guaranty Bancshares Company Profile

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.