Citigroup Inc. Increases Stock Holdings in The First Bancshares, Inc. (NASDAQ:FBMS)

Citigroup Inc. boosted its position in shares of The First Bancshares, Inc. (NASDAQ:FBMS) by 1,454.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 619,730 shares of the bank’s stock after acquiring an additional 579,851 shares during the period. Citigroup Inc. owned 1.99% of First Bancshares worth $19,912,000 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 company. Charles Schwab Investment Management Inc. grew its position in shares of First Bancshares by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 898,647 shares of the bank’s stock valued at $28,874,000 after purchasing an additional 37,167 shares in the last quarter. Quest Partners LLC grew its position in First Bancshares by 447.6% during the third quarter. Quest Partners LLC now owns 18,746 shares of the bank’s stock worth $602,000 after buying an additional 15,323 shares in the last quarter. Empowered Funds LLC increased its stake in First Bancshares by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 93,066 shares of the bank’s stock worth $2,990,000 after acquiring an additional 4,690 shares during the last quarter. Entropy Technologies LP bought a new position in shares of First Bancshares in the third quarter worth approximately $203,000. Finally, Versor Investments LP purchased a new position in First Bancshares in the 3rd quarter worth approximately $1,666,000. Institutional investors own 69.95% of the company’s stock.

First Bancshares Stock Performance

First Bancshares stock opened at $37.75 on Wednesday. The firm has a fifty day simple moving average of $33.76 and a two-hundred day simple moving average of $30.27. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.33. The First Bancshares, Inc. has a twelve month low of $22.96 and a twelve month high of $39.08. The company has a market capitalization of $1.18 billion, a PE ratio of 17.08 and a beta of 0.91.

First Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Friday, November 8th. First Bancshares’s dividend payout ratio (DPR) is presently 45.25%.

Wall Street Analysts Forecast Growth

FBMS has been the topic of several research reports. StockNews.com assumed coverage on shares of First Bancshares in a research report on Thursday, November 21st. They set a “sell” rating on the stock. Keefe, Bruyette & Woods raised First Bancshares from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $31.00 to $40.00 in a research note on Friday, August 2nd. Finally, Janney Montgomery Scott cut First Bancshares from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.