Millennium Management LLC Purchases New Shares in First Guaranty Bancshares, Inc. (NASDAQ:FGBI)

Millennium Management LLC acquired a new position in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,159 shares of the bank’s stock, valued at approximately $172,000. Millennium Management LLC owned about 0.12% of First Guaranty Bancshares at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC bought a new stake in First Guaranty Bancshares in the fourth quarter worth about $400,000. 683 Capital Management LLC bought a new stake in shares of First Guaranty Bancshares in the 4th quarter worth approximately $296,000. Ameriprise Financial Inc. purchased a new position in First Guaranty Bancshares in the fourth quarter valued at approximately $149,000. Northern Trust Corp lifted its stake in First Guaranty Bancshares by 48.8% in the fourth quarter. Northern Trust Corp now owns 26,780 shares of the bank’s stock valued at $304,000 after purchasing an additional 8,780 shares during the last quarter. Finally, Citadel Advisors LLC increased its position in First Guaranty Bancshares by 26.9% in the fourth quarter. Citadel Advisors LLC now owns 13,661 shares of the bank’s stock worth $155,000 after buying an additional 2,894 shares during the last quarter. Institutional investors own 39.52% of the company’s stock.

Insider Transactions at First Guaranty Bancshares

In other First Guaranty Bancshares news, Director Robert W. Walker purchased 3,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was acquired at an average cost of $9.12 per share, with a total value of $27,360.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $91,200. This trade represents a 42.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edgar R. Smith III bought 98,460 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were bought at an average price of $8.47 per share, with a total value of $833,956.20. Following the completion of the acquisition, the director now directly owns 98,460 shares in the company, valued at $833,956.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 132,900 shares of company stock worth $1,135,616. 47.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of First Guaranty Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th.

First Guaranty Bancshares Trading Down 5.4%

Shares of FGBI stock opened at $8.03 on Friday. The stock has a market capitalization of $103.49 million, a price-to-earnings ratio of 9.91 and a beta of 0.43. The company’s fifty day simple moving average is $9.12 and its two-hundred day simple moving average is $9.82. First Guaranty Bancshares, Inc. has a 1 year low of $6.56 and a 1 year 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.

First Guaranty Bancshares (NASDAQ:FGBI) last released its quarterly earnings results on Monday, May 12th. The bank reported ($0.54) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.71). The firm had revenue of $56.82 million during the quarter, compared to the consensus estimate of $27.90 million. First Guaranty Bancshares had a return on equity of 5.62% and a net margin of 5.04%. As a group, analysts anticipate that First Guaranty Bancshares, Inc. will post 0.89 earnings per share for the current year.

First Guaranty Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 23rd will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, June 23rd. First Guaranty Bancshares’s dividend payout ratio (DPR) is presently 30.77%.

First Guaranty Bancshares Profile

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.