Zacks Investment Research cut shares of First Bancshares (NASDAQ:FBMS) from a buy rating to a hold rating in a report released on Tuesday, February 27th.
According to Zacks, “The FIRST BANCSHARES, INC., headquartered in Hattiesburg, Mississippi, is the parent company of The First, A National Banking Association. The First is now ranked in the top twenty banks by asset size in Mississippi. The First has operations in Hattiesburg, Laurel, Purvis, Picayune, Pascagoula, Bay St. Louis, Wiggins and Gulfport, Mississippi. The Company and its subsidiary bank engage in a general commercial and retail banking business characterized by personalized service and local decision-making, emphasizing the banking needs of small to medium-sized businesses, professional concerns and individuals. The products and services offered by the bank include deposit services, loan products, mortgage loan divisions and other services. “
Several other equities analysts also recently weighed in on FBMS. BidaskClub downgraded First Bancshares from a hold rating to a sell rating in a report on Wednesday, January 24th. ValuEngine upgraded First Bancshares from a hold rating to a buy rating in a report on Friday, February 2nd. Stephens reiterated a buy rating and issued a $37.00 price objective on shares of First Bancshares in a report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and issued a $39.00 price objective on shares of First Bancshares in a report on Friday, December 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $38.00.
First Bancshares (FBMS) traded down $0.55 on Tuesday, reaching $32.60. The company’s stock had a trading volume of 14,095 shares, compared to its average volume of 19,700. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $371.83, a P/E ratio of 29.60 and a beta of -0.38. First Bancshares has a twelve month low of $26.05 and a twelve month high of $35.10.
First Bancshares (NASDAQ:FBMS) last issued its quarterly earnings results on Friday, January 26th. The bank reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. First Bancshares had a return on equity of 10.36% and a net margin of 13.20%. The firm had revenue of $18.78 million during the quarter, compared to the consensus estimate of $19.55 million. sell-side analysts predict that First Bancshares will post 2.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Monday, February 5th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.61%. This is a boost from First Bancshares’s previous quarterly dividend of $0.04. The ex-dividend date was Friday, February 2nd. First Bancshares’s dividend payout ratio (DPR) is presently 17.86%.
Large investors have recently made changes to their positions in the business. Thomson Horstmann & Bryant Inc. purchased a new position in shares of First Bancshares during the 4th quarter valued at about $5,127,000. Northpointe Capital LLC purchased a new position in shares of First Bancshares during the 4th quarter valued at about $5,035,000. Forest Hill Capital LLC purchased a new position in shares of First Bancshares during the 4th quarter valued at about $4,353,000. The Manufacturers Life Insurance Company lifted its position in shares of First Bancshares by 34.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 418,086 shares of the bank’s stock valued at $14,299,000 after buying an additional 107,029 shares in the last quarter. Finally, State Street Corp purchased a new position in shares of First Bancshares during the 2nd quarter valued at about $2,633,000. 67.40% of the stock is currently owned by institutional investors and hedge funds.
About First Bancshares
The First Bancshares, Inc is a bank holding company for The First, A National Banking Association (the Bank). The Company and the Bank engage in a general commercial and retail banking business for small to medium-sized businesses, professional concerns and individuals. The Bank provides a range of banking services in its primary market area of South Mississippi, South Alabama and Louisiana.
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