First Guaranty Bancshares (NASDAQ:FGBI) Director Buys $1,072,904.91 in Stock

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Director Edgar Smith III acquired 138,083 shares of the company’s stock in a transaction dated Tuesday, March 31st. The stock was acquired at an average cost of $7.77 per share, for a total transaction of $1,072,904.91. Following the completion of the purchase, the director directly owned 675,349 shares in the company, valued at $5,247,461.73. This trade represents a 25.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First Guaranty Bancshares Trading Up 4.4%

Shares of First Guaranty Bancshares stock traded up $0.39 on Thursday, hitting $9.20. 34,623 shares of the company’s stock traded hands, compared to its average volume of 14,950. The company has a fifty day moving average of $8.69 and a two-hundred day moving average of $7.37. First Guaranty Bancshares, Inc. has a one year low of $4.31 and a one year high of $10.55. The company has a market capitalization of $141.25 million, a price-to-earnings ratio of -2.37 and a beta of 0.31. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.88 and a quick ratio of 0.88.

First Guaranty Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 27th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. First Guaranty Bancshares’s dividend payout ratio (DPR) is -1.03%.

Analyst Upgrades and Downgrades

FGBI has been the topic of a number of research reports. Zacks Research upgraded shares of First Guaranty Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of First Guaranty Bancshares in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, First Guaranty Bancshares currently has an average rating of “Reduce”.

Institutional Investors Weigh In On First Guaranty Bancshares

A number of hedge funds have recently added to or reduced their stakes in FGBI. Empowered Funds LLC increased its holdings in shares of First Guaranty Bancshares by 8.8% during the first quarter. Empowered Funds LLC now owns 46,048 shares of the bank’s stock valued at $355,000 after acquiring an additional 3,742 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of First Guaranty Bancshares by 11.1% in the 1st quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank’s stock worth $379,000 after purchasing an additional 4,956 shares in the last quarter. Renaissance Technologies LLC grew its position in First Guaranty Bancshares by 60.1% in the 4th quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock valued at $152,000 after purchasing an additional 10,641 shares during the period. Finally, Barclays PLC grew its position in First Guaranty Bancshares by 135.6% in the 4th quarter. Barclays PLC now owns 11,478 shares of the bank’s stock valued at $62,000 after purchasing an additional 6,606 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 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.