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

First Guaranty Bancshares, Inc. (NASDAQ:FGBI - Get Free Report) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 16,000 shares, a drop of 40.5% from the April 15th total of 26,900 shares. Currently, 0.3% of the company's shares are short sold. Based on an average daily trading volume, of 9,600 shares, the days-to-cover ratio is currently 1.7 days.

First Guaranty Bancshares Trading Up 0.1 %

Shares of FGBI stock traded up $0.01 during trading hours on Friday, reaching $10.94. 18,515 shares of the stock traded hands, compared to its average volume of 15,688. The business has a fifty day moving average price of $10.49 and a 200 day moving average price of $10.82. First Guaranty Bancshares has a 1-year low of $9.24 and a 1-year high of $15.25. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $136.86 million, a PE ratio of 22.33 and a beta of 0.37.

First Guaranty Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 22nd were issued a $0.16 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.85%. First Guaranty Bancshares's payout ratio is currently 130.61%.

Institutional Trading of First Guaranty Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cullen Investment Group LTD. purchased a new stake in First Guaranty Bancshares in the 4th quarter worth about $786,000. Empowered Funds LLC increased its holdings in shares of First Guaranty Bancshares by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,585 shares of the bank's stock valued at $381,000 after purchasing an additional 2,800 shares during the period. Private Advisor Group LLC lifted its position in shares of First Guaranty Bancshares by 21.8% in the third quarter. Private Advisor Group LLC now owns 15,366 shares of the bank's stock worth $169,000 after purchasing an additional 2,750 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of First Guaranty Bancshares by 0.8% during the first quarter. Vanguard Group Inc. now owns 272,035 shares of the bank's stock worth $2,761,000 after purchasing an additional 2,200 shares during the period. Institutional investors and hedge funds own 39.52% of the company's stock.

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.