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

First Guaranty Bancshares, Inc. (NASDAQ:FGBIGet Rating) announced 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 payment by an average of 4.1% annually over the last three years and has increased its dividend every year for the last 1 years. First Guaranty Bancshares has a dividend payout ratio of 27.0% indicating that its dividend is sufficiently covered by earnings. 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

NASDAQ FGBI opened at $23.89 on Wednesday. First Guaranty Bancshares has a fifty-two week low of $19.13 and a fifty-two week high of $29.65. The stock’s 50-day moving average is $22.56 and its two-hundred day moving average is $24.44. The firm has a market cap of $256.10 million, a P/E ratio of 8.69 and a beta of 0.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.89 and a quick ratio of 0.89.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On First Guaranty Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Dempsey Capital Management LLC bought a new position in shares of First Guaranty Bancshares during the 1st quarter worth approximately $3,375,000. State Street Corp lifted its holdings in shares of First Guaranty Bancshares by 335.2% during the second quarter. State Street Corp now owns 60,764 shares of the bank’s stock valued at $1,477,000 after acquiring an additional 46,802 shares during the period. Northern Trust Corp lifted its holdings in shares of First Guaranty Bancshares by 352.8% during the second quarter. Northern Trust Corp now owns 50,512 shares of the bank’s stock valued at $1,228,000 after acquiring an additional 39,357 shares during the period. First Trust Advisors LP acquired a new stake in shares of First Guaranty Bancshares in the 3rd quarter valued at $404,000. Finally, Citadel Advisors LLC bought a new stake in shares of First Guaranty Bancshares in the 2nd quarter worth about $308,000. 13.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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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