Fintel reports that on July 12, 2023, DA Davidson maintained coverage of First Guaranty Bancshares (NASDAQ:FGBI) with a Neutral recommendation.
Analyst Price Forecast Suggests 18.34% Upside
As of July 6, 2023, the average one-year price target for First Guaranty Bancshares is 13.94. The forecasts range from a low of 13.13 to a high of $15.22. The average price target represents an increase of 18.34% from its latest reported closing price of 11.78.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for First Guaranty Bancshares is 109MM, an increase of 3.51%. The projected annual non-GAAP EPS is 2.37.
First Guaranty Bancshares Declares $0.16 Dividend
On May 18, 2023 the company declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Shareholders of record as of June 23, 2023 received the payment on June 30, 2023. Previously, the company paid $0.16 per share.
At the current share price of $11.78 / share, the stock's dividend yield is 5.43%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.12%, the lowest has been 1.95%, and the highest has been 5.60%. The standard deviation of yields is 0.82 (n=235).
The current dividend yield is 2.81 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.28. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.10%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 143 funds or institutions reporting positions in First Guaranty Bancshares. This is a decrease of 3 owner(s) or 2.05% in the last quarter. Average portfolio weight of all funds dedicated to FGBI is 0.02%, an increase of 1.24%. Total shares owned by institutions decreased in the last three months by 7.39% to 1,362K shares.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 168K shares representing 1.57% ownership of the company. No change in the last quarter.
Geode Capital Management holds 115K shares representing 1.08% ownership of the company. In it's prior filing, the firm reported owning 106K shares, representing an increase of 7.80%. The firm decreased its portfolio allocation in FGBI by 32.92% over the last quarter.
IWM - iShares Russell 2000 ETF holds 104K shares representing 0.97% ownership of the company. In it's prior filing, the firm reported owning 111K shares, representing a decrease of 6.89%. The firm decreased its portfolio allocation in FGBI by 34.69% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 90K shares representing 0.84% ownership of the company. In it's prior filing, the firm reported owning 92K shares, representing a decrease of 3.18%. The firm decreased its portfolio allocation in FGBI by 38.80% over the last quarter.
Bridgeway Capital Management holds 86K shares representing 0.80% ownership of the company. In it's prior filing, the firm reported owning 61K shares, representing an increase of 28.59%. The firm decreased its portfolio allocation in FGBI by 4.00% over the last quarter.
First Guaranty Bancshares Background Information
(This description is provided by the company.)
First Guaranty Bancshares, Inc. is a bank holding company. Its primary subsidiary is First Guaranty Bank (FGB), a bank based in Hammond, Louisiana. The bank operates 21 branches. For over 86 years First Guaranty Bank has proudly served the people of Louisiana. With today’s ever changing economy, there is one thing that will not change and that is First Guaranty Bank’s commitment to its customers. With the power to make loan decisions on a local level First Guaranty Bank has the strength to help meet the needs and expectations of its customers. While other banks may come and go, First Guaranty Bank continues to have the power of three generations of banking trust.
Additional reading:
- MUTUAL TERMINATION AGREEMENT AND RELEASE
- First Guaranty Bancshares, Inc. and Lone Star Bank Mutually Agree to Terminate Merger Agreement as Market Conditions Have Changed since January 6, 2023
- First Guaranty Bancshares, Inc. Letter to Shareholders
- ADJOURNMENT OF LONE STAR BANK SPECIAL MEETING OF SHAREHOLDERS UNTIL JULY 11, 2023
- UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION SECURITIES EXCHANGE ACT OF 1934 Release No. 97631 / May 31, 2023 ADMINISTRATIVE PROCEEDING File No. 3-21474 In the Matter of FIRST GUARANTY BANCSHARES, INC., Respondent. ORDER INS
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
