StockNews.com Initiates Coverage on First Bancshares (NASDAQ:FBMS)

StockNews.com began coverage on shares of First Bancshares (NASDAQ:FBMS) in a research report sent to investors on Monday. The firm issued a sell rating on the bank’s stock.

Several other equities research analysts have also commented on FBMS. Janney Montgomery Scott lowered shares of First Bancshares from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods upgraded First Bancshares from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $31.00 to $40.00 in a research report on Friday, August 2nd. Finally, Hovde Group upped their price objective 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.50.

First Bancshares Price Performance

Shares of NASDAQ FBMS opened at $34.12 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.82 and a current ratio of 0.82. First Bancshares has a one year low of $22.96 and a one year high of $34.93. The firm has a market capitalization of $1.07 billion, a P/E ratio of 13.54 and a beta of 0.92. The company’s fifty day moving average is $32.60 and its two-hundred day moving average is $28.77.

First Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, November 8th. First Bancshares’s payout ratio is currently 39.68%.

Hedge Funds Weigh In On First Bancshares

A number of large investors have recently modified their holdings of FBMS. Russell Investments Group Ltd. boosted its holdings in First Bancshares by 72.7% in the 1st quarter. Russell Investments Group Ltd. now owns 62,984 shares of the bank’s stock worth $1,634,000 after acquiring an additional 26,514 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in First Bancshares in the first quarter worth $463,000. Boston Partners bought a new stake in First Bancshares during the first quarter valued at $895,000. Vanguard Group Inc. raised its holdings in shares of First Bancshares by 3.8% during the first quarter. Vanguard Group Inc. now owns 1,626,074 shares of the bank’s stock worth $42,197,000 after purchasing an additional 59,471 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in shares of First Bancshares by 16.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 119,512 shares of the bank’s stock worth $3,105,000 after buying an additional 16,723 shares during the last quarter. 69.95% of the stock is currently owned by hedge funds and other institutional investors.

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.