S&P 500 may face selling pressure as systematic funds reach full exposure
First Guaranty Bancshares Inc (NASDAQ:FGBI) stock has reached a 52-week low, dipping to $6.59, with a market capitalization of $85.53 million. According to InvestingPro analysis, the stock appears undervalued, trading at just 0.39 times book value and a P/E ratio of 8.64. The regional banking institution, which has been grappling with the broader economic pressures affecting the banking sector, has seen a significant downturn with a YTD decline of 40.23%. While the stock’s performance reflects bearish sentiment, analysts maintain a price target of $11.50, and the company has maintained dividend payments for 19 consecutive years. This latest price level could attract value investors, with technical indicators suggesting oversold conditions. For deeper insights and additional ProTips on FGBI’s valuation metrics, visit the Most Undervalued Stocks list.
In other recent news, First Guaranty Bancshares has declared a quarterly cash dividend for its common stock shareholders, amounting to $0.01 per share. This dividend will be paid to shareholders of record as of December 27, 2024, with the payment scheduled for December 31, 2024. Additionally, the company announced a quarterly cash dividend for holders of its depositary shares related to its 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock, set at $0.421875 per depositary share. This preferred stock dividend is payable on March 3, 2025, to shareholders of record as of February 14, 2025.
In governance news, First Guaranty Bancshares has elected Mr. Bruce McAnally to its Board of Directors, expanding its leadership team. Mr. McAnally brings extensive experience from his roles in the pharmacy and healthcare sectors. The company has not indicated any committee appointments for Mr. McAnally at this time. These developments reflect First Guaranty Bancshares’ ongoing efforts to maintain strong financial practices and governance.
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