First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Short Interest Update

Key Points

• First Guaranty Bancshares experienced a 33.3% increase in short interest in August, raising the total to 17,200 shares.
• The company reported a loss of $0.61 per share for the most recent quarter, missing analyst estimates by $0.41.
• First Guaranty Bancshares declared a $0.01 quarterly dividend, with a yield of 0.5%, to be paid on September 30th.

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 17,200 shares, an increase of 33.3% from the July 31st total of 12,900 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 10,500 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily trading volume, of 10,500 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.4% of the shares of the company are short sold.

Wall Street Analyst Weigh In

FGBI has been the subject of a number of recent research reports. Zacks Research cut shares of First Guaranty Bancshares from a "hold" rating to a "strong sell" rating in a research report on Wednesday. Wall Street Zen lowered First Guaranty Bancshares from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Sell".

First Guaranty Bancshares Trading Down 0.9%

First Guaranty Bancshares stock traded down $0.07 during midday trading on Friday, reaching $8.15. 2,288 shares of the stock traded hands, compared to its average volume of 7,634. The firm has a market cap of $123.23 million, a PE ratio of -8.07 and a beta of 0.40. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.81. The company has a 50-day simple moving average of $8.38 and a two-hundred day simple moving average of $8.46. First Guaranty Bancshares has a 12-month low of $6.55 and a 12-month high of $15.25.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last posted its quarterly earnings data on Monday, August 18th. The bank reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.41). First Guaranty Bancshares had a negative net margin of 4.49% and a negative return on equity of 4.73%. The business had revenue of $54.32 million during the quarter, compared to analysts' expectations of $29.20 million. Research analysts expect that First Guaranty Bancshares will post 0.89 earnings per share for the current fiscal year.

First Guaranty Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, September 23rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.5%. First Guaranty Bancshares's dividend payout ratio is currently -3.96%.

Insiders Place Their Bets

In other news, Director Marshall T. Reynolds bought 30,865 shares of the stock in a transaction dated Monday, June 30th. The shares were acquired at an average cost of $8.10 per share, with a total value of $250,006.50. Following the purchase, the director directly owned 1,916,468 shares in the company, valued at $15,523,390.80. The trade was a 1.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 47.20% of the company's stock.

Institutional Trading of First Guaranty Bancshares

Several hedge funds have recently modified their holdings of the stock. Northern Trust Corp grew its position in shares of First Guaranty Bancshares by 48.8% during the fourth quarter. Northern Trust Corp now owns 26,780 shares of the bank's stock worth $304,000 after buying an additional 8,780 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in First Guaranty Bancshares in the fourth quarter valued at approximately $149,000. Citadel Advisors LLC lifted its stake in First Guaranty Bancshares by 26.9% in the fourth quarter. Citadel Advisors LLC now owns 13,661 shares of the bank's stock worth $155,000 after acquiring an additional 2,894 shares during the last quarter. Millennium Management LLC acquired a new position in First Guaranty Bancshares during the 4th quarter worth approximately $172,000. Finally, Arkadios Wealth Advisors increased its position in shares of First Guaranty Bancshares by 14.0% in the 1st quarter. Arkadios Wealth Advisors now owns 12,236 shares of the bank's stock valued at $94,000 after purchasing an additional 1,502 shares during the last quarter. 39.52% of the stock is currently owned by institutional investors and hedge funds.

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.