First Guaranty Bancshares, Inc. to Issue Quarterly Dividend of $0.01 (NASDAQ:FGBI)

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) announced a quarterly dividend on Thursday, May 21st. Shareholders of record on Friday, June 26th will be paid a dividend of 0.01 per share by the bank on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, June 26th.

First Guaranty Bancshares has decreased its dividend by an average of 0.4%per year over the last three years. First Guaranty Bancshares has a payout ratio of 4.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Guaranty Bancshares to earn $0.65 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 6.2%.

First Guaranty Bancshares Stock Performance

Shares of FGBI stock opened at $10.47 on Wednesday. The firm’s 50 day moving average price is $9.59 and its 200-day moving average price is $8.38. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.75. First Guaranty Bancshares has a one year low of $4.31 and a one year high of $11.02. The firm has a market cap of $172.34 million, a P/E ratio of -3.27 and a beta of 0.44.

First Guaranty Bancshares (NASDAQ:FGBI) last posted its quarterly earnings data on Monday, April 27th. The bank reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. First Guaranty Bancshares had a negative net margin of 21.47% and a negative return on equity of 17.06%. The firm had revenue of $22.90 million during the quarter, compared to analysts’ expectations of $22.15 million. As a group, equities research analysts predict that First Guaranty Bancshares will post 0.4 EPS for the current year.

Insider Transactions at First Guaranty Bancshares

In other First Guaranty Bancshares news, Director Edgar R. Smith III acquired 109,051 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average price of $9.17 per share, for a total transaction of $999,997.67. Following the completion of the acquisition, the director owned 784,400 shares of the company’s stock, valued at approximately $7,192,948. This trade represents a 16.15% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce Mcanally bought 109,051 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were acquired at an average cost of $9.17 per share, for a total transaction of $999,997.67. Following the completion of the purchase, the director owned 441,587 shares in the company, valued at $4,049,352.79. This trade represents a 32.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 420,537 shares of company stock valued at $3,572,915. 47.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Guaranty Bancshares

A number of hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its stake in shares of First Guaranty Bancshares by 1,288.4% in the first quarter. NewEdge Advisors LLC now owns 6,942 shares of the bank’s stock worth $56,000 after acquiring an additional 6,442 shares in the last quarter. Barclays PLC raised its stake in shares of First Guaranty Bancshares by 135.6% in the fourth quarter. Barclays PLC now owns 11,478 shares of the bank’s stock valued at $62,000 after acquiring an additional 6,606 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in First Guaranty Bancshares by 60.1% in the fourth quarter. Renaissance Technologies LLC now owns 28,347 shares of the bank’s stock valued at $152,000 after purchasing an additional 10,641 shares during the period. Acadian Asset Management LLC boosted its holdings in First Guaranty Bancshares by 11.1% in the first quarter. Acadian Asset Management LLC now owns 49,565 shares of the bank’s stock valued at $379,000 after purchasing an additional 4,956 shares during the period. Finally, Empowered Funds LLC grew its stake in First Guaranty Bancshares by 8.8% during the 1st quarter. Empowered Funds LLC now owns 46,048 shares of the bank’s stock worth $355,000 after purchasing an additional 3,742 shares in the last quarter. 39.52% of the stock is currently owned by institutional investors and hedge funds.

First Guaranty Bancshares Company Profile

First Guaranty Bancshares, Inc is a financial holding company headquartered in Hammond, Louisiana. Through its principal subsidiary, First Guaranty Bank, the company provides a diversified range of commercial and retail banking services. Founded in 1932, First Guaranty Bancshares has grown from a community mutual bank into a publicly traded institution listed on the Nasdaq under the ticker FGBI.

The company’s core business activities encompass traditional deposit products and lending solutions.