First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Increases Dividend to $0.16 Per Share

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) declared a quarterly dividend on Tuesday, November 23rd, Wall Street Journal reports. Stockholders of record on Friday, December 24th will be paid a dividend of 0.16 per share by the bank on Friday, December 31st. This represents a $0.64 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Wednesday, December 22nd. This is a positive change from First Guaranty Bancshares’s previous quarterly dividend of $0.15.

First Guaranty Bancshares has a payout ratio of 24.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Guaranty Bancshares to earn $2.63 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 24.3%.

Shares of FGBI opened at $22.85 on Thursday. First Guaranty Bancshares has a 12-month low of $15.33 and a 12-month high of $23.59. The firm’s fifty day moving average price is $20.79. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $222.58 million, a price-to-earnings ratio of 9.03 and a beta of 0.43.

First Guaranty Bancshares (NASDAQ:FGBI) last posted its quarterly earnings data on Tuesday, November 9th. The bank reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. First Guaranty Bancshares had a return on equity of 14.05% and a net margin of 19.68%. As a group, equities analysts predict that First Guaranty Bancshares will post 2.5 EPS for the current fiscal year.

Separately, Zacks Investment Research raised First Guaranty Bancshares from a “sell” rating to a “strong-buy” rating and set a $25.00 price target for the company in a report on Wednesday, November 3rd.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in shares of First Guaranty Bancshares by 25.2% in the 3rd quarter. Geode Capital Management LLC now owns 18,261 shares of the bank’s stock valued at $366,000 after purchasing an additional 3,680 shares during the period. Royal Bank of Canada increased its position in First Guaranty Bancshares by 1,501.0% in the 2nd quarter. Royal Bank of Canada now owns 1,537 shares of the bank’s stock valued at $30,000 after buying an additional 1,441 shares in the last quarter. Finally, Morgan Stanley increased its position in First Guaranty Bancshares by 48.8% in the 1st quarter. Morgan Stanley now owns 3,917 shares of the bank’s stock valued at $70,000 after buying an additional 1,284 shares in the last quarter. 8.86% of the stock is currently owned by hedge funds and other institutional investors.

First Guaranty Bancshares Company Profile

First Guaranty Bancshares, Inc engages in the provision of personalized commercial banking services to businesses, professionals, and individuals. Its services include personal checking, money market, loans, courtesy sweep, business checking, cash management, courtesy pay, and digital. The company was founded on July 27, 2007 and is headquartered in Hammond, LA.

See Also: Initial Coin Offering (ICO)

Dividend History for First Guaranty Bancshares (NASDAQ:FGBI)

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