The First Bancshares, Inc. (FBMS) Upgraded to Buy at Zacks Investment Research

The First Bancshares, Inc. (NASDAQ:FBMS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $35.00 price target on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.72% from the company’s current price.

According to Zacks, “The FIRST BANCSHARES, INC., headquartered in Hattiesburg, Mississippi, is the parent company of The First, A National Banking Association. The First is now ranked in the top twenty banks by asset size in Mississippi. The First has operations in Hattiesburg, Laurel, Purvis, Picayune, Pascagoula, Bay St. Louis, Wiggins and Gulfport, Mississippi. The Company and its subsidiary bank engage in a general commercial and retail banking business characterized by personalized service and local decision-making, emphasizing the banking needs of small to medium-sized businesses, professional concerns and individuals. The products and services offered by the bank include deposit services, loan products, mortgage loan divisions and other services. “

Separately, Keefe, Bruyette & Woods upgraded The First Bancshares from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $31.00 to $30.00 in a research note on Thursday, July 27th.

Shares of The First Bancshares (FBMS) traded up 2.08% on Tuesday, hitting $31.90. The stock had a trading volume of 101,220 shares. The company has a market cap of $291.73 million, a P/E ratio of 31.58 and a beta of -0.29. The First Bancshares has a 12 month low of $21.50 and a 12 month high of $32.13. The company’s 50 day moving average price is $30.07 and its 200-day moving average price is $28.40.

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In other news, Director J Douglas Seidenburg purchased 3,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were acquired at an average price of $29.00 per share, for a total transaction of $87,000.00. Following the purchase, the director now owns 100,740 shares in the company, valued at $2,921,460. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders have acquired 4,250 shares of company stock worth $123,250. Company insiders own 11.76% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Nationwide Fund Advisors purchased a new stake in The First Bancshares during the 2nd quarter valued at about $128,000. Rhumbline Advisers purchased a new stake in The First Bancshares during the 2nd quarter valued at about $246,000. New York State Common Retirement Fund purchased a new stake in The First Bancshares during the 2nd quarter valued at about $251,000. Schwab Charles Investment Management Inc. purchased a new stake in The First Bancshares during the 2nd quarter valued at about $392,000. Finally, California State Teachers Retirement System purchased a new stake in The First Bancshares during the 2nd quarter valued at about $414,000. Institutional investors and hedge funds own 57.88% of the company’s stock.

About The First Bancshares

The First Bancshares, Inc is a bank holding company for The First, A National Banking Association (the Bank). The Company and the Bank engage in a general commercial and retail banking business for small to medium-sized businesses, professional concerns and individuals. The Bank provides a range of banking services in its primary market area of South Mississippi, South Alabama and Louisiana.

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