Short Interest in First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Declines By 16.4%

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 16,300 shares, a decrease of 16.4% from the September 30th total of 19,500 shares. Based on an average trading volume of 5,500 shares, the days-to-cover ratio is presently 3.0 days. Currently, 0.3% of the shares of the company are sold short.

Separately, ValuEngine raised First Guaranty Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, September 16th.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of First Guaranty Bancshares by 1.6% in the second quarter. BlackRock Inc. now owns 228,405 shares of the bank’s stock valued at $4,761,000 after buying an additional 3,608 shares in the last quarter. Northern Trust Corp increased its stake in shares of First Guaranty Bancshares by 4.1% in the second quarter. Northern Trust Corp now owns 47,517 shares of the bank’s stock valued at $991,000 after buying an additional 1,891 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of First Guaranty Bancshares by 22.5% in the second quarter. Renaissance Technologies LLC now owns 28,550 shares of the bank’s stock valued at $595,000 after buying an additional 5,240 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of First Guaranty Bancshares by 45.0% in the second quarter. Wells Fargo & Company MN now owns 11,370 shares of the bank’s stock valued at $237,000 after buying an additional 3,530 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of First Guaranty Bancshares by 10.2% in the second quarter. SG Americas Securities LLC now owns 5,978 shares of the bank’s stock valued at $125,000 after buying an additional 554 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

Shares of FGBI traded up $0.14 during mid-day trading on Friday, hitting $19.62. The company’s stock had a trading volume of 3,300 shares, compared to its average volume of 3,684. First Guaranty Bancshares has a one year low of $18.00 and a one year high of $23.67. The firm has a market capitalization of $171.64 million, a PE ratio of 13.74 and a beta of 0.43. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 0.91. The stock’s 50-day moving average is $20.97 and its two-hundred day moving average is $20.77.

First Guaranty Bancshares Company Profile

First Guaranty Bancshares, Inc operates as the holding company for First Guaranty Bank that provides commercial banking services to businesses, professionals, and individuals 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.

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