First Bancshares (NASDAQ:FBMS) Earns Sell Rating from Analysts at StockNews.com

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

Other equities research analysts have also issued research reports about the company. Keefe, Bruyette & Woods upgraded First Bancshares from a “market perform” rating to an “outperform” rating and upped their target price for the company from $31.00 to $40.00 in a research report on Friday, August 2nd. Janney Montgomery Scott cut First Bancshares from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. Finally, Hovde Group lifted their price objective on shares of First Bancshares from $29.00 to $32.50 and gave the company a “market perform” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.50.

First Bancshares Price Performance

NASDAQ FBMS opened at $34.12 on Monday. First Bancshares has a 12-month low of $22.96 and a 12-month 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 has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $32.60 and its two-hundred day simple moving average is $28.77.

First Bancshares Dividend Announcement

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

Hedge Funds Weigh In On First Bancshares

Several large investors have recently modified their holdings of FBMS. Elizabeth Park Capital Advisors Ltd. acquired a new position in First Bancshares in the 2nd quarter valued at about $4,548,000. Algebris UK Ltd acquired a new position in shares of First Bancshares during the first quarter worth $3,492,000. Dimensional Fund Advisors LP raised its position in shares of First Bancshares by 7.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,404,491 shares of the bank’s stock worth $36,487,000 after acquiring an additional 91,314 shares in the last quarter. American Century Companies Inc. lifted its stake in First Bancshares by 65.0% during the second quarter. American Century Companies Inc. now owns 231,635 shares of the bank’s stock worth $6,018,000 after purchasing an additional 91,269 shares during the last quarter. Finally, Creative Planning lifted its position in shares of First Bancshares by 310.0% during the 2nd quarter. Creative Planning now owns 91,591 shares of the bank’s stock worth $2,380,000 after buying an additional 69,254 shares during the last quarter. Institutional investors and hedge funds own 69.95% of the company’s stock.

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.