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

StockNews.com began coverage on shares of First Bancshares (NASDAQ:FBMS) in a research note issued to investors on Friday morning. The brokerage issued a sell rating on the bank’s stock.

A number of other research firms have also recently issued reports on FBMS. Keefe, Bruyette & Woods upgraded First Bancshares from a market perform rating to an outperform rating and upped their price objective for the stock from $31.00 to $40.00 in a report on Friday, August 2nd. Hovde Group increased their price target on shares of First Bancshares from $29.00 to $32.50 and gave the company a market perform rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $35.50.

First Bancshares Trading Down 0.1 %

Shares of First Bancshares stock opened at $31.28 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $976.53 million, a P/E ratio of 12.41 and a beta of 0.92. First Bancshares has a 52-week low of $22.96 and a 52-week high of $34.40. The stock’s 50-day simple moving average is $32.25 and its 200 day simple moving average is $27.82.

First Bancshares (NASDAQ:FBMS) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. First Bancshares had a net margin of 18.71% and a return on equity of 8.82%. The firm had revenue of $104.35 million for the quarter, compared to the consensus estimate of $70.40 million. During the same period in the prior year, the firm posted $0.85 earnings per share. As a group, research analysts anticipate that First Bancshares will post 2.55 EPS for the current year.

First Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.20%. First Bancshares’s dividend payout ratio is currently 39.68%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC raised its holdings in First Bancshares by 4.6% during the second quarter. Hsbc Holdings PLC now owns 19,503 shares of the bank’s stock valued at $499,000 after acquiring an additional 861 shares during the period. Victory Capital Management Inc. raised its stake in First Bancshares by 1.8% during the 2nd quarter. Victory Capital Management Inc. now owns 72,262 shares of the bank’s stock valued at $1,877,000 after purchasing an additional 1,300 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in First Bancshares by 17.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,797 shares of the bank’s stock worth $229,000 after purchasing an additional 1,332 shares in the last quarter. Innealta Capital LLC purchased a new position in First Bancshares in the 2nd quarter worth approximately $36,000. Finally, CWM LLC boosted its stake in First Bancshares by 3,387.8% in the 2nd quarter. CWM LLC now owns 1,709 shares of the bank’s stock worth $44,000 after purchasing an additional 1,660 shares during the period. 69.95% of the stock is currently owned by institutional investors.

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.