First Bancshares (NASDAQ:FBMS) Sets New 12-Month High – Here’s What Happened

The First Bancshares, Inc. (NASDAQ:FBMS) shares hit a new 52-week high during trading on Monday . The company traded as high as $38.72 and last traded at $38.72, with a volume of 9139 shares trading hands. The stock had previously closed at $37.65.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FBMS shares. 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 research report on Monday, July 29th. Janney Montgomery Scott cut shares of First Bancshares from a “buy” rating to a “neutral” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods upgraded shares of First Bancshares from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $31.00 to $40.00 in a research note on Friday, August 2nd. Finally, StockNews.com began coverage on shares of First Bancshares in a research note on Thursday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Bancshares has an average rating of “Hold” and an average target price of $35.50.

First Bancshares Stock Up 2.3 %

The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 14.94 and a beta of 0.91. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average price is $33.64 and its 200 day moving average price is $30.18.

First Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Friday, November 8th. First Bancshares’s dividend payout ratio (DPR) is presently 45.25%.

Institutional Investors Weigh In On First Bancshares

Institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in First Bancshares during the 2nd quarter worth approximately $36,000. CWM LLC grew its holdings in First Bancshares by 3,387.8% during the 2nd quarter. CWM LLC now owns 1,709 shares of the bank’s stock worth $44,000 after acquiring an additional 1,660 shares during the last quarter. FMR LLC grew its holdings in First Bancshares by 50.8% during the 3rd quarter. FMR LLC now owns 3,194 shares of the bank’s stock worth $103,000 after acquiring an additional 1,076 shares during the last quarter. Quest Partners LLC bought a new stake in First Bancshares during the 2nd quarter worth approximately $89,000. Finally, Entropy Technologies LP bought a new stake in First Bancshares during the 3rd quarter worth approximately $203,000. 69.95% of the stock is owned by institutional investors.

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.