Keefe, Bruyette & Woods Reiterates Buy Rating for First Bancshares (FBMS)

First Bancshares (NASDAQ:FBMS)‘s stock had its “buy” rating restated by Keefe, Bruyette & Woods in a research note issued on Friday. They currently have a $39.00 price objective on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 16.07% from the company’s previous close.

Separately, Zacks Investment Research raised shares of First Bancshares from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Tuesday, October 31st.

Shares of First Bancshares (FBMS) opened at $33.60 on Friday. First Bancshares has a one year low of $25.25 and a one year high of $34.30. The stock has a market cap of $374.95, a PE ratio of 29.22 and a beta of -0.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86.

In other news, Director J Douglas Seidenburg purchased 3,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was acquired at an average price of $29.00 per share, with a total value of $87,000.00. Following the purchase, the director now directly owns 100,740 shares in the company, valued at approximately $2,921,460. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders bought 4,250 shares of company stock valued at $123,250. Corporate insiders own 11.76% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new position in shares of First Bancshares during the 2nd quarter worth approximately $714,000. Vanguard Group Inc. boosted its position in shares of First Bancshares by 145.8% during the 1st quarter. Vanguard Group Inc. now owns 213,193 shares of the bank’s stock worth $6,076,000 after purchasing an additional 126,470 shares during the period. Teachers Advisors LLC purchased a new position in shares of First Bancshares during the 2nd quarter worth approximately $415,000. Castine Capital Management LLC boosted its position in shares of First Bancshares by 7.9% during the 3rd quarter. Castine Capital Management LLC now owns 322,714 shares of the bank’s stock worth $9,730,000 after purchasing an additional 23,764 shares during the period. Finally, Northern Trust Corp purchased a new position in shares of First Bancshares during the 2nd quarter worth approximately $2,153,000. 47.39% of the stock is owned by hedge funds and other institutional investors.

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About 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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