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

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

First Guaranty Bancshares Stock Performance

Shares of NASDAQ FGBI remained flat at $8.85 during mid-day trading on Friday. 19,454 shares of the stock traded hands, compared to its average volume of 13,161. The firm has a market cap of $114.06 million, a P/E ratio of 10.93 and a beta of 0.43. First Guaranty Bancshares has a 12 month low of $6.56 and a 12 month high of $15.25. The firm's fifty day moving average price is $8.96 and its two-hundred day moving average price is $10.06. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.91 and a current ratio of 0.91.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The bank reported ($0.54) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.71). First Guaranty Bancshares had a net margin of 5.04% and a return on equity of 5.62%. The company had revenue of $56.82 million during the quarter, compared to analyst estimates of $27.90 million. As a group, equities research analysts predict that First Guaranty Bancshares will post 0.89 earnings per share for the current fiscal 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 given a $0.01 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.45%. First Guaranty Bancshares's payout ratio is 30.77%.

Insider Transactions at First Guaranty Bancshares

In other news, Director Edgar R. Smith III bought 98,460 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were acquired at an average cost of $8.47 per share, with a total value of $833,956.20. Following the completion of the transaction, the director now directly owns 98,460 shares in the company, valued at $833,956.20. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Walker acquired 3,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were purchased at an average cost of $9.12 per share, for a total transaction of $27,360.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $91,200. This represents a 42.86% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 132,900 shares of company stock worth $1,135,616. 47.20% of the stock is owned by insiders.

Institutional Investors Weigh In On First Guaranty Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of FGBI. Empowered Funds LLC increased its stake 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 valued at $481,000 after acquiring an additional 1,968 shares during the last quarter. LPL Financial LLC acquired a new stake in First Guaranty Bancshares in the 4th quarter valued at $400,000. 683 Capital Management LLC bought a new stake in First Guaranty Bancshares during the fourth quarter worth about $296,000. Bridgeway Capital Management LLC raised its stake in shares of First Guaranty Bancshares by 1.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 82,497 shares of the bank's stock worth $937,000 after purchasing an additional 1,242 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in 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 acquiring an additional 4,956 shares in the last quarter. 39.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

About First Guaranty Bancshares

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.