Geode Capital Management LLC Acquires 5,070 Shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI)

Geode Capital Management LLC grew its holdings in shares of First Guaranty Bancshares, Inc. (NASDAQ:FGBI) by 8.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 68,788 shares of the bank’s stock after buying an additional 5,070 shares during the period. Geode Capital Management LLC’s holdings in First Guaranty Bancshares were worth $733,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Empowered Funds LLC grew its stake in shares of First Guaranty Bancshares by 5.2% during the third quarter. Empowered Funds LLC now owns 40,338 shares of the bank’s stock valued at $430,000 after buying an additional 2,010 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of First Guaranty Bancshares in the second quarter valued at approximately $138,000. Finally, Fourthstone LLC purchased a new stake in shares of First Guaranty Bancshares in the third quarter valued at approximately $366,000. Institutional investors own 39.52% of the company’s stock.

First Guaranty Bancshares Stock Down 2.4 %

Shares of NASDAQ FGBI opened at $10.47 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $130.93 million, a price-to-earnings ratio of 12.46 and a beta of 0.42. The stock has a 50 day moving average price of $12.23 and a 200 day moving average price of $10.90. First Guaranty Bancshares, Inc. has a 52-week low of $8.39 and a 52-week high of $15.25.

First Guaranty Bancshares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 27th were issued a $0.01 dividend. The ex-dividend date was Friday, December 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. First Guaranty Bancshares’s payout ratio is 4.76%.

First Guaranty Bancshares Profile

First Guaranty Bancshares, Inc operates as the holding company for First Guaranty Bank that provides commercial banking services in Louisiana and Texas. It offers various deposit products, including personal and business checking, savings, money market, and demand accounts, as well as time deposits to consumers, small businesses, and municipalities.