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

Key Points

• Short interest surged sharply in First Guaranty Bancshares, rising 190.1% in June to 481,045 shares, or about 5.5% of the float. The short-interest ratio stands at 4.3 days based on average trading volume.
• The stock traded around $9.92, near its 50-day moving average of $9.76 and below its 12-month high of $11.02, while the company’s market cap is about $163.3 million. First Guaranty Bancshares also reported mixed fundamentals, including negative net margin and return on equity.
• Insider buying was notable, with two directors each purchasing 109,051 shares at $9.17 per share, signaling confidence from management. Analysts remain cautious overall, with one hold and one sell rating, for an average “Reduce” rating.

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 481,045 shares, an increase of 190.1% from the June 15th total of 165,848 shares. Based on an average trading volume of 113,101 shares, the short-interest ratio is currently 4.3 days. Approximately 5.5% of the shares of the stock are short sold.

First Guaranty Bancshares Price Performance

First Guaranty Bancshares stock traded down $0.02 during trading hours on Monday, hitting $9.92. 51,236 shares of the stock were exchanged, compared to its average volume of 30,726. The stock has a market capitalization of $163.28 million, a P/E ratio of -3.10 and a beta of 0.43. The business's 50-day moving average is $9.76 and its two-hundred day moving average is $8.86. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.75. First Guaranty Bancshares has a 12 month low of $4.31 and a 12 month high of $11.02.

First Guaranty Bancshares (NASDAQ:FGBI - Get Free Report) last posted its earnings results on Monday, April 27th. The bank reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. The company had revenue of $22.90 million during the quarter, compared to analysts' expectations of $22.15 million. First Guaranty Bancshares had a negative net margin of 21.47% and a negative return on equity of 17.06%. Equities research analysts expect that First Guaranty Bancshares will post 0.4 EPS for the current fiscal year.

First Guaranty Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 26th were given a $0.01 dividend. The ex-dividend date was Friday, June 26th. This represents a $0.04 annualized dividend and a yield of 0.4%. First Guaranty Bancshares's payout ratio is presently -1.25%.

Insider Transactions at First Guaranty Bancshares

In other First Guaranty Bancshares news, Director Edgar R. Smith III purchased 109,051 shares of the business's stock in a transaction on Thursday, April 30th. The stock was purchased at an average price of $9.17 per share, for a total transaction of $999,997.67. Following the completion of the purchase, the director directly owned 784,400 shares in the company, valued at approximately $7,192,948. This trade represents a 16.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce Mcanally acquired 109,051 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were bought at an average cost of $9.17 per share, for a total transaction of $999,997.67. Following the completion of the acquisition, the director directly owned 441,587 shares of the company's stock, valued at approximately $4,049,352.79. This represents a 32.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 47.20% of the company's stock.

Institutional Trading of First Guaranty Bancshares

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC increased its stake in shares of First Guaranty Bancshares by 11.1% in the first quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank's stock valued at $379,000 after buying an additional 4,956 shares in the last quarter. Empowered Funds LLC lifted its position in First Guaranty Bancshares by 8.8% during the 1st 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. Renaissance Technologies LLC grew its holdings in First Guaranty Bancshares by 60.1% during the 4th quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank's stock worth $152,000 after acquiring an additional 10,641 shares during the last quarter. Barclays PLC grew its holdings in First Guaranty Bancshares by 135.6% during the 4th quarter. Barclays PLC now owns 11,478 shares of the bank's stock worth $62,000 after acquiring an additional 6,606 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in First Guaranty Bancshares by 1,288.4% in the 1st quarter. NewEdge Advisors LLC now owns 6,942 shares of the bank's stock valued at $56,000 after acquiring an additional 6,442 shares in the last quarter. Institutional investors own 39.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wall Street Zen raised First Guaranty Bancshares to a "hold" rating in a research note on Saturday, June 27th. Weiss Ratings reiterated a "sell (d)" rating on shares of First Guaranty Bancshares in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce".

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.

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