Sandler O’Neill set a $29.00 price target on First Guaranty Bancshares, Inc. (NASDAQ:FGBI) in a research report report published on Wednesday, MarketBeat Ratings reports. The firm currently has a hold rating on the bank’s stock.

Separately, ValuEngine raised shares of First Guaranty Bancshares from a hold rating to a buy rating in a report on Friday, June 2nd.

First Guaranty Bancshares (NASDAQ:FGBI) traded up 2.14% on Wednesday, hitting $26.75. 991 shares of the company were exchanged. First Guaranty Bancshares has a 52 week low of $15.72 and a 52 week high of $28.51. The company has a market capitalization of $214.19 million, a P/E ratio of 16.03 and a beta of 0.67. The firm’s 50 day moving average is $26.85 and its 200 day moving average is $25.65.

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The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Friday, September 15th.

In related news, Chairman Marshall T. Reynolds sold 40,000 shares of the stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $27.37, for a total transaction of $1,094,800.00. Following the sale, the chairman now directly owns 1,556,008 shares of the company’s stock, valued at $42,587,938.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 42.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in FGBI. California State Teachers Retirement System purchased a new stake in shares of First Guaranty Bancshares during the second quarter worth about $188,000. ZPR Investment Management increased its position in First Guaranty Bancshares by 2.5% in the second quarter. ZPR Investment Management now owns 8,795 shares of the bank’s stock valued at $240,000 after buying an additional 214 shares during the last quarter. State Street Corp bought a new position in First Guaranty Bancshares during the second quarter valued at about $979,000. Banc Funds Co. LLC increased its position in First Guaranty Bancshares by 11.7% in the second quarter. Banc Funds Co. LLC now owns 103,264 shares of the bank’s stock valued at $2,813,000 after buying an additional 10,787 shares during the last quarter. Finally, Advisor Group Inc. bought a new position in First Guaranty Bancshares during the second quarter valued at about $506,000. 9.42% of the stock is currently owned by hedge funds and other institutional investors.

First Guaranty Bancshares Company 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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