First Bancshares (NASDAQ:FBMS) Hits New 12-Month High – Here’s Why

The First Bancshares, Inc. (NASDAQ:FBMS)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $34.93 and last traded at $34.91, with a volume of 25632 shares. The stock had previously closed at $33.99.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Hovde Group lifted their price objective on First Bancshares from $29.00 to $32.50 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Janney Montgomery Scott cut First Bancshares from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. StockNews.com started coverage on First Bancshares in a report on Monday. They issued a “sell” rating for the company. Finally, Keefe, Bruyette & Woods upgraded First Bancshares from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $31.00 to $40.00 in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, First Bancshares currently has an average rating of “Hold” and an average target price of $35.50.

First Bancshares Trading Down 1.6 %

The stock has a fifty day moving average of $32.63 and a 200-day moving average of $28.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $1.05 billion, a PE ratio of 13.52 and a beta of 0.92.

First Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Friday, November 8th. First Bancshares’s dividend payout ratio (DPR) is presently 45.25%.

Institutional Investors Weigh In On First Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. bought a new stake in First Bancshares during the 3rd quarter valued at $846,000. Olympiad Research LP bought a new position in shares of First Bancshares in the 3rd quarter worth $997,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of First Bancshares by 11.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,751 shares of the bank’s stock worth $530,000 after acquiring an additional 1,711 shares in the last quarter. CWM LLC raised its position in shares of First Bancshares by 73.2% in the 3rd quarter. CWM LLC now owns 2,960 shares of the bank’s stock worth $95,000 after acquiring an additional 1,251 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in First Bancshares by 54.3% during the 3rd quarter. SG Americas Securities LLC now owns 19,133 shares of the bank’s stock valued at $615,000 after buying an additional 6,731 shares in the last quarter. 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.