First Guaranty Bancshares, Inc. (FGBI) To Go Ex-Dividend on September 21st

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) declared a quarterly dividend on Thursday, August 17th, Zacks reports. Investors of record on Friday, September 22nd will be paid a dividend of 0.16 per share by the bank on Friday, September 29th. This represents a $0.64 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date of this dividend is Thursday, September 21st.

First Guaranty Bancshares has increased its dividend by an average of 5.7% per year over the last three years. First Guaranty Bancshares has a payout ratio of 83.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect First Guaranty Bancshares to earn $0.77 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 83.1%.

First Guaranty Bancshares Price Performance

Shares of NASDAQ FGBI opened at $11.30 on Tuesday. First Guaranty Bancshares has a twelve month low of $10.79 and a twelve month high of $25.19. The firm has a market cap of $129.16 million, a P/E ratio of 7.15 and a beta of 0.40. The company has a 50 day moving average of $11.80 and a 200 day moving average of $13.23. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.35.

First Guaranty Bancshares (NASDAQ:FGBI) last announced its quarterly earnings data on Wednesday, August 9th. The bank reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.09). First Guaranty Bancshares had a return on equity of 9.35% and a net margin of 10.98%. The firm had revenue of $23.73 million during the quarter, compared to analysts’ expectations of $25.59 million. As a group, research analysts expect that First Guaranty Bancshares will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On First Guaranty Bancshares

A number of large investors have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd bought a new stake in First Guaranty Bancshares in the 2nd quarter worth approximately $123,000. Renaissance Technologies LLC grew its position in First Guaranty Bancshares by 156.7% in the 2nd quarter. Renaissance Technologies LLC now owns 29,283 shares of the bank’s stock worth $329,000 after purchasing an additional 17,877 shares during the period. BNP Paribas Arbitrage SNC grew its position in First Guaranty Bancshares by 79.0% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 7,269 shares of the bank’s stock worth $82,000 after purchasing an additional 3,208 shares during the period. First Trust Advisors LP grew its position in First Guaranty Bancshares by 8.2% in the 1st quarter. First Trust Advisors LP now owns 14,549 shares of the bank’s stock worth $228,000 after purchasing an additional 1,107 shares during the period. Finally, Geode Capital Management LLC grew its position in First Guaranty Bancshares by 8.5% in the 1st quarter. Geode Capital Management LLC now owns 115,281 shares of the bank’s stock worth $1,806,000 after purchasing an additional 8,997 shares during the period. Institutional investors own 26.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson decreased their price objective on shares of First Guaranty Bancshares from $13.50 to $13.00 in a report on Wednesday, July 12th.

First Guaranty Bancshares Company 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.