First Guaranty Bancshares (NASDAQ:FGBI) Director Edgar Smith III Buys 138,083 Shares of Stock

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Director Edgar Smith III acquired 138,083 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was bought at an average cost of $7.77 per share, with a total value of $1,072,904.91. Following the acquisition, the director owned 675,349 shares in the company, valued at $5,247,461.73. The trade was a 25.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

First Guaranty Bancshares Price Performance

NASDAQ:FGBI opened at $9.20 on Friday. The stock has a market capitalization of $145.27 million, a PE ratio of -2.37 and a beta of 0.32. First Guaranty Bancshares, Inc. has a 1-year low of $4.31 and a 1-year high of $10.55. The firm has a fifty day simple moving average of $8.71 and a 200 day simple moving average of $7.39. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.99.

First Guaranty Bancshares Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of First Guaranty Bancshares from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Weiss Ratings reissued a “sell (d)” rating on shares of First Guaranty Bancshares in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, First Guaranty Bancshares presently has an average rating of “Reduce”.

Hedge Funds Weigh In On First Guaranty Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FGBI. Barclays PLC raised its position in shares of 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 purchasing an additional 6,606 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of First Guaranty Bancshares by 60.1% during the 4th quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock worth $152,000 after buying an additional 10,641 shares during the period. Empowered Funds LLC grew its stake in First Guaranty Bancshares by 8.8% in the 1st quarter. Empowered Funds LLC now owns 46,048 shares of the bank’s stock valued at $355,000 after buying an additional 3,742 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in First Guaranty Bancshares by 11.1% in the 1st quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank’s stock valued at $379,000 after buying an additional 4,956 shares during the last quarter. 39.52% of the stock is owned by institutional investors.

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.