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

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

A number of other brokerages also recently commented on FBMS. Janney Montgomery Scott downgraded shares of First Bancshares from a “buy” rating to a “neutral” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods upped their price objective on First Bancshares from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, First Bancshares currently has a consensus rating of “Hold” and an average target price of $37.17.

First Bancshares Stock Up 1.1 %

Shares of FBMS opened at $34.96 on Monday. First Bancshares has a 52-week low of $22.96 and a 52-week high of $39.08. 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 stock has a fifty day simple moving average of $35.61 and a two-hundred day simple moving average of $31.94. The company has a market capitalization of $1.09 billion, a PE ratio of 15.82 and a beta of 0.93.

First Bancshares Dividend Announcement

The business also recently declared 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 2.86%. The ex-dividend date was Friday, November 8th. First Bancshares’s dividend payout ratio (DPR) is 45.25%.

Hedge Funds Weigh In On First Bancshares

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in First Bancshares by 9.6% during the second quarter. Bank of New York Mellon Corp now owns 190,928 shares of the bank’s stock worth $4,960,000 after purchasing an additional 16,777 shares in the last quarter. Innealta Capital LLC acquired a new position in First Bancshares during the 2nd quarter worth about $36,000. Rhumbline Advisers boosted its holdings in First Bancshares by 6.4% during the 2nd quarter. Rhumbline Advisers now owns 48,372 shares of the bank’s stock valued at $1,257,000 after acquiring an additional 2,904 shares during the period. Victory Capital Management Inc. grew its position in First Bancshares by 1.8% in the 2nd quarter. Victory Capital Management Inc. now owns 72,262 shares of the bank’s stock valued at $1,877,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Arizona State Retirement System purchased a new stake in First Bancshares during the second quarter worth about $216,000. 69.95% of the stock is currently owned by institutional investors and hedge funds.

First Bancshares Company Profile

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.