First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Sees Large Growth in Short Interest

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 104,700 shares, an increase of 423.5% from the April 30th total of 20,000 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average daily trading volume, of 19,600 shares, the days-to-cover ratio is currently 5.3 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of First Guaranty Bancshares from a "hold" rating to a "sell" rating in a report on Saturday, May 24th.

First Guaranty Bancshares Stock Performance

Shares of NASDAQ:FGBI traded down $0.23 during midday trading on Monday, reaching $8.62. 22,827 shares of the company traded hands, compared to its average volume of 13,241. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. First Guaranty Bancshares has a 12 month low of $6.56 and a 12 month high of $15.25. The firm has a market capitalization of $111.09 million, a price-to-earnings ratio of 10.64 and a beta of 0.43. The firm's fifty day moving average price is $8.98 and its two-hundred day moving average price is $10.02.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last issued its earnings results on Monday, May 12th. The bank reported ($0.54) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.71). First Guaranty Bancshares had a return on equity of 5.62% and a net margin of 5.04%. The company had revenue of $56.82 million during the quarter, compared to the consensus estimate of $27.90 million. On average, equities analysts expect that First Guaranty Bancshares will post 0.89 earnings per share for the current year.

First Guaranty Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 23rd will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, June 23rd. This represents a $0.04 annualized dividend and a yield of 0.46%. First Guaranty Bancshares's dividend payout ratio is currently 30.77%.

Insider Buying and Selling at First Guaranty Bancshares

In other First Guaranty Bancshares news, Director Bruce Mcanally bought 24,615 shares of the business's stock in a transaction on Monday, March 31st. The stock was purchased at an average price of $8.47 per share, for a total transaction of $208,489.05. Following the completion of the transaction, the director now directly owns 145,839 shares of the company's stock, valued at $1,235,256.33. This trade represents a 20.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Edgar R. Smith III purchased 6,725 shares of the stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $9.66 per share, for a total transaction of $64,963.50. Following the transaction, the director now owns 19,407 shares of the company's stock, valued at approximately $187,471.62. This trade represents a 53.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 132,900 shares of company stock worth $1,135,616 over the last ninety days. 47.20% of the stock is currently owned by company insiders.

Institutional Trading of First Guaranty Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of FGBI. Acadian Asset Management LLC boosted its holdings in First Guaranty Bancshares by 11.1% in the 1st quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank's stock valued at $379,000 after purchasing an additional 4,956 shares during the period. Empowered Funds LLC raised its position in shares of First Guaranty Bancshares by 8.8% in the first quarter. Empowered Funds LLC now owns 46,048 shares of the bank's stock worth $355,000 after buying an additional 3,742 shares in the last quarter. Arkadios Wealth Advisors raised its position in shares of First Guaranty Bancshares by 14.0% in the first quarter. Arkadios Wealth Advisors now owns 12,236 shares of the bank's stock worth $94,000 after buying an additional 1,502 shares in the last quarter. Millennium Management LLC bought a new stake in First Guaranty Bancshares during the fourth quarter valued at $172,000. Finally, Bridgeway Capital Management LLC grew its position in First Guaranty Bancshares by 1.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 82,497 shares of the bank's stock worth $937,000 after buying an additional 1,242 shares in the last quarter. Institutional investors own 39.52% of the company's stock.

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.