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

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) announced a quarterly dividend on Thursday, August 17th, Zacks reports. Stockholders of record on Friday, September 22nd will be given a dividend of 0.16 per share by the bank on Friday, September 29th. This represents a $0.64 annualized dividend and a dividend yield of 5.66%. The ex-dividend date is Thursday, September 21st.

First Guaranty Bancshares has increased its dividend payment by an average of 5.7% per year over the last three years. First Guaranty Bancshares has a dividend payout ratio of 83.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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 Up 0.4 %

Shares of NASDAQ FGBI opened at $11.30 on Tuesday. The firm has a market cap of $129.16 million, a PE ratio of 7.15 and a beta of 0.40. First Guaranty Bancshares has a 12-month low of $10.79 and a 12-month high of $25.19. The company’s fifty day simple moving average is $11.80 and its 200 day simple moving average is $13.23. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.35.

First Guaranty Bancshares (NASDAQ:FGBI) last issued its earnings results on Wednesday, August 9th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.09). The company had revenue of $23.73 million for the quarter, compared to the consensus estimate of $25.59 million. First Guaranty Bancshares had a return on equity of 9.35% and a net margin of 10.98%. As a group, sell-side analysts forecast that First Guaranty Bancshares will post 0.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, DA Davidson dropped their price objective on shares of First Guaranty Bancshares from $13.50 to $13.00 in a research note on Wednesday, July 12th.

Institutional Trading of First Guaranty Bancshares

Large investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC purchased a new stake in First Guaranty Bancshares during the fourth quarter worth about $76,000. American International Group Inc. purchased a new stake in First Guaranty Bancshares during the second quarter worth about $69,000. BNP Paribas Arbitrage SNC increased its holdings in First Guaranty Bancshares by 470.4% during the first quarter. BNP Paribas Arbitrage SNC now owns 4,061 shares of the bank’s stock worth $64,000 after buying an additional 3,349 shares during the last quarter. Citigroup Inc. purchased a new stake in First Guaranty Bancshares during the first quarter worth about $64,000. Finally, Deutsche Bank AG increased its holdings in First Guaranty Bancshares by 49.6% during the first quarter. Deutsche Bank AG now owns 3,733 shares of the bank’s stock worth $58,000 after buying an additional 1,238 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

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.