First Guaranty Bancshares, Inc. (FGBI) Shares Bought by Banc Funds Co. LLC
Banc Funds Co. LLC grew its holdings in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,590 shares of the bank’s stock after acquiring an additional 10,326 shares during the quarter. Banc Funds Co. LLC’s holdings in First Guaranty Bancshares were worth $2,840,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. New York State Common Retirement Fund acquired a new position in First Guaranty Bancshares during the second quarter worth about $114,000. Wells Fargo & Company MN acquired a new position in First Guaranty Bancshares during the third quarter worth about $146,000. California State Teachers Retirement System acquired a new position in First Guaranty Bancshares during the second quarter worth about $188,000. Teachers Advisors LLC acquired a new position in shares of First Guaranty Bancshares in the second quarter valued at approximately $207,000. Finally, TIAA CREF Investment Management LLC acquired a new position in shares of First Guaranty Bancshares in the second quarter valued at approximately $284,000. 12.65% of the stock is owned by hedge funds and other institutional investors.
In other news, Director William K. Hood acquired 18,987 shares of the stock in a transaction dated Thursday, December 7th. The stock was bought at an average price of $29.00 per share, with a total value of $550,623.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Marshall T. Reynolds sold 55,675 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $26.60, for a total value of $1,480,955.00. The disclosure for this sale can be found here. Corporate insiders own 42.70% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Tuesday, March 20th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Monday, March 19th. First Guaranty Bancshares’s dividend payout ratio is currently 43.73%.
Several research analysts have recently issued reports on FGBI shares. BidaskClub raised First Guaranty Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Sandler O’Neill set a $27.00 price objective on First Guaranty Bancshares and gave the company a “hold” rating in a research note on Friday, February 9th. Finally, ValuEngine downgraded First Guaranty Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.
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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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