Intel stock spikes after report of possible US government stake
HAMMOND, La.—William K. Hood, a director at First Guaranty Bancshares Inc . (NASDAQ:FGBI), has expanded his holdings in the company amid a significant stock decline of nearly 27% over the past six months. According to a recent SEC filing, Hood purchased 98,460 shares of the company’s common stock on March 31, 2025, at a price of $8.47 per share. This transaction amounted to a total of $833,956, with the current stock price at $7.73 suggesting potential value opportunity. InvestingPro analysis indicates the stock is currently undervalued.
Post-transaction, Hood holds 98,460 shares directly through WK Hood Family, LLC, and maintains indirect ownership in several other entities. These include Smith & Hood Investments, LLC, Hood Investments, LLC, Smith & Hood Holding Company, LLC, WKH Management, Inc., and WKH Holdings, LLC.
The filing also notes that some shares were acquired under a dividend reinvestment plan, as indicated by footnotes in the report. Hood’s acquisition reflects a significant investment in the company, underscoring his confidence in First Guaranty Bancshares’ prospects. The bank has maintained dividend payments for 20 consecutive years, demonstrating consistent shareholder returns despite market fluctuations.
In other recent news, First Guaranty Bancshares has declared a quarterly cash dividend for holders of its depositary shares. Each share represents a 1/40th interest in its 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock, with the dividend set at $0.421875 per depositary share. Shareholders of record as of February 14, 2025, will receive the dividend on March 3, 2025. This announcement was made in accordance with the Securities Exchange Act of 1934, as confirmed by the company’s Chief Financial Officer, Eric J. Dosch.
In a separate development, First Guaranty Bancshares has elected Mr. Robert W. Walker to its Board of Directors. Mr. Walker, who previously served as President and CEO of Premier Financial Bancorp, Inc. until its sale in 2021, brings a wealth of experience to the board. The appointment was confirmed in a Form 8-K filing with the Securities and Exchange Commission. There are currently no plans for Mr. Walker to serve on any board committees, and he is not involved in any transactions with the company that require disclosure under SEC regulations.
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