First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Sees Significant Increase in Short Interest

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) was the recipient of a large increase in short interest during the month of 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. Currently, 5.5% of the company’s stock are short sold. Based on an average daily volume of 113,101 shares, the days-to-cover ratio is presently 4.3 days.

Insider Transactions at First Guaranty Bancshares

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

Hedge Funds Weigh In On First Guaranty Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC increased its position in First Guaranty Bancshares by 1,288.4% during the first 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 during the last quarter. Barclays PLC lifted its holdings in First Guaranty Bancshares by 135.6% in the fourth quarter. Barclays PLC now owns 11,478 shares of the bank’s stock valued at $62,000 after acquiring an additional 6,606 shares during the period. Renaissance Technologies LLC boosted its position in First Guaranty Bancshares by 60.1% in the fourth quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock worth $152,000 after purchasing an additional 10,641 shares during the last quarter. Empowered Funds LLC boosted its position in 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 purchasing an additional 3,742 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of First Guaranty Bancshares by 11.1% during 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. 39.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

First Guaranty Bancshares Stock Performance

NASDAQ:FGBI traded down $0.01 during mid-day trading on Wednesday, reaching $10.01. The company’s stock had a trading volume of 7,282 shares, compared to its average volume of 30,700. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. The stock has a market cap of $164.81 million, a P/E ratio of -3.12 and a beta of 0.43. The firm’s fifty day moving average price is $9.78 and its two-hundred day moving average price is $8.93. First Guaranty Bancshares has a 12-month low of $4.31 and a 12-month high of $11.02.

First Guaranty Bancshares (NASDAQ:FGBI) last announced its quarterly earnings results on Monday, April 27th. The bank reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. First Guaranty Bancshares had a negative net margin of 21.47% and a negative return on equity of 17.06%. The firm had revenue of $22.90 million during the quarter, compared to analyst estimates of $22.15 million. On average, equities analysts forecast that First Guaranty Bancshares will post 0.4 EPS for the current fiscal year.

First Guaranty Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 26th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, June 26th. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. First Guaranty Bancshares’s payout ratio is currently -1.25%.

About First Guaranty Bancshares

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.