Citigroup Inc. Reduces Stock Holdings in The First Bancshares, Inc. (NASDAQ:FBMS)

Citigroup Inc. cut its position in shares of The First Bancshares, Inc. (NASDAQ:FBMS) by 61.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,744 shares of the bank’s stock after selling 15,276 shares during the period. Citigroup Inc.’s holdings in First Bancshares were worth $263,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Captrust Financial Advisors raised its position in shares of First Bancshares by 174.8% during the 2nd quarter. Captrust Financial Advisors now owns 874 shares of the bank’s stock valued at $25,000 after buying an additional 556 shares during the period. FMR LLC increased its stake in First Bancshares by 100.9% during the second quarter. FMR LLC now owns 910 shares of the bank’s stock worth $26,000 after acquiring an additional 457 shares during the last quarter. Tower Research Capital LLC TRC raised its position in First Bancshares by 759.7% in the first quarter. Tower Research Capital LLC TRC now owns 1,023 shares of the bank’s stock valued at $26,000 after purchasing an additional 904 shares during the period. Quantbot Technologies LP acquired a new position in shares of First Bancshares in the 3rd quarter valued at $59,000. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of First Bancshares by 26.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,507 shares of the bank’s stock worth $65,000 after purchasing an additional 524 shares during the period. 69.95% of the stock is currently owned by institutional investors and hedge funds.

First Bancshares Stock Performance

NASDAQ:FBMS opened at $25.38 on Thursday. The First Bancshares, Inc. has a 52 week low of $22.82 and a 52 week high of $32.06. The company has a fifty day simple moving average of $25.19 and a two-hundred day simple moving average of $26.37. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.54. The company has a market cap of $792.62 million, a price-to-earnings ratio of 10.62 and a beta of 0.87.

First Bancshares (NASDAQ:FBMS) last released its earnings results on Wednesday, January 24th. The bank reported $0.59 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.11). The company had revenue of $60.01 million for the quarter, compared to analyst estimates of $72.10 million. First Bancshares had a return on equity of 10.60% and a net margin of 19.47%. As a group, equities analysts anticipate that The First Bancshares, Inc. will post 2.53 earnings per share for the current fiscal year.

First Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Wednesday, February 7th were paid a $0.25 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $1.00 dividend on an annualized basis and a yield of 3.94%. This is an increase from First Bancshares’s previous quarterly dividend of $0.24. First Bancshares’s payout ratio is currently 41.84%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FBMS shares. TheStreet lowered shares of First Bancshares from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. StockNews.com upgraded shares of First Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $28.00 price target on shares of First Bancshares in a research note on Friday, January 26th. Finally, Stephens reaffirmed an “overweight” rating and issued a $34.00 target price on shares of First Bancshares in a research report on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.00.

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.