Short Interest in First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Grows By 9.5%

First Guaranty Bancshares, Inc. (NASDAQ:FGBIGet Free Report) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 12,700 shares, an increase of 9.5% from the December 15th total of 11,600 shares. Based on an average daily trading volume, of 11,400 shares, the short-interest ratio is currently 1.1 days. Currently, 0.2% of the shares of the stock are sold short.

First Guaranty Bancshares Price Performance

Shares of FGBI stock traded up $0.23 during trading hours on Monday, reaching $10.82. 5,316 shares of the company were exchanged, compared to its average volume of 7,573. First Guaranty Bancshares has a fifty-two week low of $8.39 and a fifty-two week high of $15.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.91. The stock’s fifty day moving average is $12.20 and its two-hundred day moving average is $10.97. The company has a market cap of $135.36 million, a price-to-earnings ratio of 12.88 and a beta of 0.42.

First Guaranty Bancshares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 27th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Friday, December 27th. First Guaranty Bancshares’s dividend payout ratio is 4.76%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of First Guaranty Bancshares by 8.0% during the third quarter. Geode Capital Management LLC now owns 68,788 shares of the bank’s stock valued at $733,000 after acquiring an additional 5,070 shares during the period. Empowered Funds LLC raised its holdings in First Guaranty Bancshares by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 40,338 shares of the bank’s stock worth $430,000 after purchasing an additional 2,010 shares during the last quarter. Fourthstone LLC bought a new stake in First Guaranty Bancshares during the 3rd quarter worth about $366,000. Renaissance Technologies LLC acquired a new position in First Guaranty Bancshares during the 2nd quarter valued at about $138,000. Finally, Arkadios Wealth Advisors bought a new position in shares of First Guaranty Bancshares in the 4th quarter valued at about $122,000. 39.52% of the stock is currently owned by institutional investors.

First Guaranty Bancshares Company Profile

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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.

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