256,751 Shares in The First Bancshares, Inc. (NASDAQ:FBMS) Purchased by Westchester Capital Management LLC

Westchester Capital Management LLC bought a new stake in shares of The First Bancshares, Inc. (NASDAQ:FBMS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 256,751 shares of the bank’s stock, valued at approximately $8,249,000. Westchester Capital Management LLC owned 0.82% of First Bancshares at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. purchased a new position in First Bancshares during the 3rd quarter valued at $846,000. Boston Partners bought a new position in shares of First Bancshares in the first quarter worth about $895,000. Vanguard Group Inc. increased its stake in First Bancshares by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 1,626,074 shares of the bank’s stock worth $42,197,000 after buying an additional 59,471 shares during the period. Thrivent Financial for Lutherans lifted its holdings 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 buying an additional 16,723 shares in the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. purchased a new position in shares of First Bancshares during the second quarter worth approximately $4,548,000. Institutional investors own 69.95% of the company’s stock.

First Bancshares Trading Down 0.8 %

NASDAQ FBMS opened at $37.14 on Friday. The company has a 50 day moving average price of $34.02 and a 200 day moving average price of $30.45. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.33. The First Bancshares, Inc. has a 52 week low of $22.96 and a 52 week high of $39.08. The firm has a market cap of $1.16 billion, a PE ratio of 16.81 and a beta of 0.91.

First Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Friday, November 8th. First Bancshares’s dividend payout ratio (DPR) is presently 45.25%.

Analyst Ratings Changes

Several research analysts have commented on FBMS shares. Janney Montgomery Scott downgraded First Bancshares from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. StockNews.com assumed coverage on First Bancshares in a report on Friday. They issued a “sell” rating for the company. Finally, Keefe, Bruyette & Woods raised shares of First Bancshares from a “market perform” rating to an “outperform” rating and raised their target price for the company from $31.00 to $40.00 in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.50.

First Bancshares 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.