Vanguard Group Inc. Grows Position in First Guaranty Bancshares, Inc. (FGBI)
Vanguard Group Inc. increased its position in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) by 142.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,681 shares of the bank’s stock after purchasing an additional 46,235 shares during the quarter. Vanguard Group Inc. owned 1.03% of First Guaranty Bancshares worth $2,143,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of FGBI. Kennedy Capital Management Inc. lifted its position in First Guaranty Bancshares by 138.7% during the second quarter. Kennedy Capital Management Inc. now owns 68,353 shares of the bank’s stock worth $1,862,000 after purchasing an additional 39,715 shares during the period. Northern Trust Corp bought a new stake in First Guaranty Bancshares during the second quarter worth about $919,000. Bank of New York Mellon Corp bought a new stake in First Guaranty Bancshares during the second quarter worth about $299,000. TIAA CREF Investment Management LLC bought a new stake in First Guaranty Bancshares during the second quarter worth about $284,000. Finally, Context BH Capital Management LP bought a new stake in First Guaranty Bancshares during the second quarter worth about $230,000. 11.65% of the stock is owned by institutional investors and hedge funds.
FGBI has been the subject of a number of research reports. Sandler O’Neill set a $29.00 target price on shares of First Guaranty Bancshares and gave the stock a “hold” rating in a report on Wednesday, August 30th. ValuEngine cut shares of First Guaranty Bancshares from a “buy” rating to a “hold” rating in a report on Friday, December 1st.
In related news, Director William K. Hood bought 18,987 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was purchased at an average price of $29.00 per share, with a total value of $550,623.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William K. Hood bought 3,285 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was bought at an average cost of $27.00 per share, with a total value of $88,695.00. The disclosure for this purchase can be found here. 42.70% of the stock is currently owned by corporate insiders.
First Guaranty Bancshares, Inc. (NASDAQ FGBI) opened at $28.92 on Friday. The company has a market cap of $231.49, a PE ratio of 17.96 and a beta of 0.66. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.27. First Guaranty Bancshares, Inc. has a fifty-two week low of $20.41 and a fifty-two week high of $29.95.
First Guaranty Bancshares (NASDAQ:FGBI) last posted its earnings results on Monday, October 30th. The bank reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). First Guaranty Bancshares had a return on equity of 9.29% and a net margin of 17.30%.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Tuesday, December 19th will be issued a $0.16 dividend. The ex-dividend date is Monday, December 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.21%. First Guaranty Bancshares’s dividend payout ratio (DPR) is currently 39.75%.
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First Guaranty Bancshares Profile
First Guaranty Bancshares, Inc is a bank holding company. The Company operates through its owned subsidiary, First Guaranty Bank (the Bank). The Bank offers personalized commercial banking services to Louisiana customers, through approximately 20 banking facilities located in the Market Services Areas (MSAs).
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