Steele Capital Management Inc. Sells 24,398 Shares of The First Bancshares, Inc. (NASDAQ:FBMS)

Steele Capital Management Inc. decreased its holdings in The First Bancshares, Inc. (NASDAQ:FBMS) by 40.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 36,500 shares of the bank’s stock after selling 24,398 shares during the quarter. Steele Capital Management Inc.’s holdings in First Bancshares were worth $1,173,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Innealta Capital LLC bought a new stake in First Bancshares during the 2nd quarter worth about $36,000. CWM LLC grew its stake in shares of First Bancshares by 3,387.8% in the second quarter. CWM LLC now owns 1,709 shares of the bank’s stock valued at $44,000 after buying an additional 1,660 shares in the last quarter. Quest Partners LLC bought a new position in shares of First Bancshares in the second quarter valued at $89,000. EntryPoint Capital LLC acquired a new position in First Bancshares during the first quarter worth $103,000. Finally, CreativeOne Wealth LLC bought a new stake in First Bancshares during the first quarter worth $202,000. 69.95% of the stock is owned by institutional investors.

First Bancshares Stock Performance

NASDAQ:FBMS opened at $35.89 on Thursday. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 14.30 and a beta of 0.91. The stock has a fifty day moving average price of $33.42 and a 200-day moving average price of $29.97. The First Bancshares, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $38.21. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.84 and a current ratio of 0.84.

First Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, November 8th. First Bancshares’s dividend payout ratio (DPR) is currently 45.25%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Hovde Group raised their target price on shares of First Bancshares from $29.00 to $32.50 and gave the company a “market perform” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods raised First Bancshares from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $31.00 to $40.00 in a research report on Friday, August 2nd. StockNews.com started coverage on First Bancshares in a report on Thursday. They set a “sell” rating on the stock. Finally, Janney Montgomery Scott downgraded First Bancshares from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $35.50.

About First Bancshares

The First Bancshares, Inc operates as the bank holding company for The First Bank that provides general commercial and retail banking services. The company operates through three segments: Commercial/Retail Bank, Mortgage Banking Division, and Holding Company. It offers deposit services, including checking, NOW, and savings accounts; other time deposits, such as daily money market accounts and longer-term certificates of deposit; and individual retirement and health savings accounts.