First Bancshares (FBMS) Upgraded to “Hold” by Zacks Investment Research

First Bancshares (NASDAQ:FBMS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

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. “

A number of other research analysts have also recently weighed in on FBMS. Stephens restated a “buy” rating and issued a $37.00 price objective on shares of First Bancshares in a report on Tuesday, January 29th. BidaskClub upgraded shares of First Bancshares from a “strong sell” rating to a “sell” rating in a report on Thursday, January 31st. Finally, ValuEngine cut shares of First Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th.

Shares of FBMS stock opened at $30.49 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $525.79 million, a P/E ratio of 13.31 and a beta of 0.30. First Bancshares has a fifty-two week low of $27.84 and a fifty-two week high of $43.53.

First Bancshares (NASDAQ:FBMS) last announced its quarterly earnings data on Monday, April 22nd. The bank reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $32.69 million during the quarter, compared to analyst estimates of $32.58 million. First Bancshares had a net margin of 17.61% and a return on equity of 10.32%. As a group, research analysts predict that First Bancshares will post 2.81 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of FBMS. RMB Capital Management LLC grew its holdings in First Bancshares by 7.5% during the 4th quarter. RMB Capital Management LLC now owns 830,563 shares of the bank’s stock worth $25,125,000 after acquiring an additional 57,714 shares in the last quarter. Intl Fcstone Inc. acquired a new position in First Bancshares during the 1st quarter worth approximately $1,697,000. Dimensional Fund Advisors LP grew its holdings in First Bancshares by 28.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 178,286 shares of the bank’s stock worth $6,962,000 after acquiring an additional 39,796 shares in the last quarter. BlackRock Inc. grew its holdings in First Bancshares by 6.2% during the 4th quarter. BlackRock Inc. now owns 658,590 shares of the bank’s stock worth $19,922,000 after acquiring an additional 38,710 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in First Bancshares by 193.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,102 shares of the bank’s stock worth $941,000 after acquiring an additional 15,884 shares in the last quarter. Institutional investors own 51.55% of the company’s stock.

About First Bancshares

The First Bancshares, Inc operates as the holding company for The First, A National Banking Association 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 accounts.

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