Equities researchers at DA Davidson assumed coverage on shares of First Guaranty Bancshares (NASDAQ:FGBI) in a research note issued to investors on Monday, Benzinga reports. The firm set a “neutral” rating and a $19.50 price target on the bank’s stock. DA Davidson’s price objective indicates a potential upside of 17.40% from the company’s current price.
FGBI has been the subject of a number of other research reports. Janney Montgomery Scott began coverage on shares of First Guaranty Bancshares in a research note on Monday, December 21st. They issued a “buy” rating and a $23.00 price objective for the company. Zacks Investment Research raised shares of First Guaranty Bancshares from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Monday, February 22nd.
First Guaranty Bancshares stock opened at $16.61 on Monday. The company has a 50 day moving average price of $18.05 and a 200 day moving average price of $16.79. First Guaranty Bancshares has a 52 week low of $11.29 and a 52 week high of $21.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $161.80 million, a price-to-earnings ratio of 8.88 and a beta of 0.49.
Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in shares of First Guaranty Bancshares by 221.6% during the 4th quarter. JPMorgan Chase & Co. now owns 12,669 shares of the bank’s stock valued at $225,000 after buying an additional 8,730 shares during the period. Community Trust & Investment Co. acquired a new stake in shares of First Guaranty Bancshares in the 1st quarter valued at $283,000. Mcdonald Partners LLC acquired a new stake in shares of First Guaranty Bancshares in the 4th quarter valued at $430,000. Finally, BlackRock Inc. lifted its stake in shares of First Guaranty Bancshares by 6.4% in the 4th quarter. BlackRock Inc. now owns 265,865 shares of the bank’s stock valued at $4,723,000 after purchasing an additional 15,961 shares during the last quarter. 10.63% 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 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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