StockNews.com initiated coverage on shares of First Bancshares (NASDAQ:FBMS – Free Report) in a report issued on Friday. The brokerage issued a sell rating on the bank’s stock.
FBMS has been the topic of several other research reports. Keefe, Bruyette & Woods upgraded First Bancshares from a market perform rating to an outperform rating and lifted their target price for the company from $31.00 to $40.00 in a research note on Friday, August 2nd. Hovde Group lifted their price objective on shares of First Bancshares from $29.00 to $32.50 and gave the stock 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 given a hold rating and two have given 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.
Get Our Latest Stock Report on FBMS
First Bancshares Price Performance
First Bancshares (NASDAQ:FBMS – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.63 earnings per share 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 company had revenue of $104.35 million during the quarter, compared to analyst estimates of $70.40 million. During the same period in the prior year, the firm earned $0.85 earnings per share. As a group, equities analysts anticipate that First Bancshares will post 2.55 EPS for the current year.
First Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Thursday, August 8th. First Bancshares’s payout ratio is 39.68%.
Hedge Funds Weigh In On First Bancshares
Several institutional investors have recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in shares of First Bancshares during the 2nd quarter valued at about $36,000. CWM LLC raised its holdings 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. Quest Partners LLC purchased a new position in First Bancshares during the second quarter worth approximately $89,000. EntryPoint Capital LLC acquired a new stake in First Bancshares in the first quarter valued at approximately $103,000. Finally, Quantbot Technologies LP increased its position in shares of First Bancshares by 652.7% in the first quarter. Quantbot Technologies LP now owns 7,474 shares of the bank’s stock valued at $194,000 after buying an additional 6,481 shares in the last quarter. 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.
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