First Guaranty Bancshares, Inc. Plans Quarterly Dividend of $0.16 (NASDAQ:FGBI)

First Guaranty Bancshares, Inc. (NASDAQ:FGBIGet Rating) declared a quarterly dividend on Monday, November 21st, Zacks reports. Investors of record on Friday, December 23rd will be paid a dividend of 0.16 per share by the bank on Friday, December 30th. This represents a $0.64 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Thursday, December 22nd.

First Guaranty Bancshares has increased its dividend by an average of 4.1% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. First Guaranty Bancshares has a payout ratio of 27.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Guaranty Bancshares to earn $2.37 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 27.0%.

First Guaranty Bancshares Price Performance

Shares of NASDAQ FGBI opened at $23.89 on Wednesday. The company has a fifty day moving average price of $22.56 and a 200 day moving average price of $24.44. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. First Guaranty Bancshares has a 1-year low of $19.13 and a 1-year high of $29.65. The firm has a market cap of $256.10 million, a PE ratio of 8.69 and a beta of 0.46.

First Guaranty Bancshares (NASDAQ:FGBIGet Rating) last issued its quarterly earnings results on Friday, October 28th. The bank reported $0.70 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.01). First Guaranty Bancshares had a return on equity of 16.50% and a net margin of 22.77%. The business had revenue of $29.47 million for the quarter, compared to the consensus estimate of $29.99 million. Research analysts predict that First Guaranty Bancshares will post 2.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their price target on shares of First Guaranty Bancshares to $24.00 in a research report on Thursday, September 29th.

Insider Activity

In other news, Chairman Marshall T. Reynolds sold 3,652 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $22.79, for a total value of $83,229.08. Following the sale, the chairman now directly owns 7,833 shares of the company’s stock, valued at approximately $178,514.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Marshall T. Reynolds sold 3,652 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $22.79, for a total value of $83,229.08. Following the sale, the chairman now directly owns 7,833 shares of the company’s stock, valued at approximately $178,514.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Marshall T. Reynolds sold 7,833 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $23.98, for a total transaction of $187,835.34. Following the completion of the sale, the chairman now directly owns 1,663,033 shares in the company, valued at $39,879,531.34. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 1,003 shares of company stock valued at $24,975. 42.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Guaranty Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of FGBI. BNP Paribas Arbitrage SNC raised its holdings in First Guaranty Bancshares by 46.3% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 2,073 shares of the bank’s stock valued at $45,000 after acquiring an additional 656 shares during the period. State Street Corp raised its holdings in First Guaranty Bancshares by 13.7% in the 3rd quarter. State Street Corp now owns 69,109 shares of the bank’s stock valued at $1,512,000 after acquiring an additional 8,345 shares during the period. First Trust Advisors LP bought a new position in First Guaranty Bancshares in the 3rd quarter valued at about $404,000. Bank of New York Mellon Corp grew its position in shares of First Guaranty Bancshares by 22.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 35,769 shares of the bank’s stock worth $782,000 after purchasing an additional 6,575 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of First Guaranty Bancshares by 1.7% during the 3rd quarter. BlackRock Inc. now owns 243,937 shares of the bank’s stock worth $5,337,000 after purchasing an additional 4,195 shares in the last quarter. 13.31% of the stock is owned by institutional investors.

About First Guaranty Bancshares

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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.

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Dividend History for First Guaranty Bancshares (NASDAQ:FGBI)

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