First Bancshares (NASDAQ:FBMS) Hits New 12-Month High – Here’s Why

The First Bancshares, Inc. (NASDAQ:FBMS)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $34.93 and last traded at $34.91, with a volume of 25632 shares traded. The stock had previously closed at $33.99.

Analyst Ratings Changes

A number of brokerages have commented on FBMS. 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. StockNews.com began coverage on First Bancshares in a research note on Monday. They issued a “sell” rating on the stock. Hovde Group lifted their price target on First Bancshares from $29.00 to $32.50 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Finally, Janney Montgomery Scott cut First Bancshares from a “buy” rating to a “neutral” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.50.

First Bancshares Stock Down 1.6 %

The stock has a market capitalization of $1.05 billion, a PE ratio of 13.52 and a beta of 0.92. The company has a 50 day moving average price of $32.63 and a 200-day moving average price of $28.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.82 and a quick ratio of 0.82.

First Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 2.98%. First Bancshares’s payout ratio is 45.25%.

Institutional Investors Weigh In On First Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of First Bancshares by 72.7% in the first quarter. Russell Investments Group Ltd. now owns 62,984 shares of the bank’s stock worth $1,634,000 after buying an additional 26,514 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in First Bancshares during the 1st quarter valued at approximately $463,000. Boston Partners bought a new stake in First Bancshares during the 1st quarter valued at approximately $895,000. Vanguard Group Inc. raised its stake in First Bancshares by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 1,626,074 shares of the bank’s stock valued at $42,197,000 after purchasing an additional 59,471 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in First Bancshares by 16.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 119,512 shares of the bank’s stock valued at $3,105,000 after purchasing an additional 16,723 shares during the period. 69.95% of the stock is owned by hedge funds and other 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.