First Guaranty Bancshares, Inc. (NASDAQ:FGBI – Get Free Report) declared a quarterly dividend on Thursday, August 17th, Zacks reports. Shareholders 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 raised its dividend payment by an average of 5.7% annually over the last three years. First Guaranty Bancshares has a dividend payout ratio of 83.1% meaning 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 Stock Performance
First Guaranty Bancshares stock opened at $11.30 on Tuesday. The business has a 50 day moving average of $11.80 and a 200-day moving average of $13.23. The company has a market capitalization of $129.16 million, a P/E ratio of 7.15 and a beta of 0.40. First Guaranty Bancshares has a 1 year low of $10.79 and a 1 year high of $25.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.93 and a quick ratio of 0.93.
Analyst Upgrades and Downgrades
Separately, DA Davidson lowered their price target on shares of First Guaranty Bancshares from $13.50 to $13.00 in a report on Wednesday, July 12th.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. MetLife Investment Management LLC acquired a new stake in First Guaranty Bancshares during the fourth quarter worth approximately $76,000. American International Group Inc. bought a new stake in shares of First Guaranty Bancshares in the 2nd quarter valued at $69,000. BNP Paribas Arbitrage SNC increased its stake in First Guaranty Bancshares by 470.4% in the first quarter. BNP Paribas Arbitrage SNC now owns 4,061 shares of the bank’s stock valued at $64,000 after purchasing an additional 3,349 shares in the last quarter. Citigroup Inc. acquired a new stake in shares of First Guaranty Bancshares in the 1st quarter valued at about $64,000. Finally, Deutsche Bank AG increased its position in First Guaranty Bancshares by 49.6% in the 1st quarter. Deutsche Bank AG now owns 3,733 shares of the bank’s stock valued at $58,000 after buying an additional 1,238 shares in the last quarter. 26.41% of the stock is owned by institutional investors.
About First Guaranty Bancshares
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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