Advisor Group Inc. bought a new stake in First Guaranty Bancshares, Inc. (NASDAQ:FGBI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,576 shares of the bank’s stock, valued at approximately $506,000. Advisor Group Inc. owned 0.24% of First Guaranty Bancshares as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in First Guaranty Bancshares by 142.5% in the second quarter. Vanguard Group Inc. now owns 78,681 shares of the bank’s stock valued at $2,143,000 after acquiring an additional 46,235 shares during the period. Kennedy Capital Management Inc. increased its stake in First Guaranty Bancshares by 138.7% in the second quarter. Kennedy Capital Management Inc. now owns 68,353 shares of the bank’s stock valued at $1,862,000 after acquiring an additional 39,715 shares during the period. Northern Trust Corp bought a new stake in First Guaranty Bancshares in the second quarter valued at about $919,000. Bank of New York Mellon Corp bought a new stake in First Guaranty Bancshares in the second quarter valued at about $299,000. Finally, TIAA CREF Investment Management LLC bought a new stake in First Guaranty Bancshares in the second quarter valued at about $284,000. 9.42% of the stock is currently owned by institutional investors and hedge funds.
In other First Guaranty Bancshares news, Chairman Marshall T. Reynolds sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $27.37, for a total value of $1,094,800.00. Following the transaction, the chairman now directly owns 1,556,008 shares of the company’s stock, valued at approximately $42,587,938.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 42.70% of the stock is owned by company insiders.
Separately, Sandler O’Neill set a $29.00 target price on shares of First Guaranty Bancshares and gave the company a “hold” rating in a research note on Wednesday, August 30th.
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Shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) opened at 25.96 on Friday. First Guaranty Bancshares, Inc. has a 52 week low of $15.72 and a 52 week high of $29.35. The company has a market capitalization of $207.86 million, a PE ratio of 15.55 and a beta of 0.67. The firm’s 50-day moving average is $27.17 and its 200 day moving average is $26.16.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Friday, September 15th.
About First Guaranty Bancshares
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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