Empowered Funds LLC Boosts Stake in The First Bancshares, Inc. (NASDAQ:FBMS)

Empowered Funds LLC grew its position in shares of The First Bancshares, Inc. (NASDAQ:FBMS) by 5.3% during the third quarter, Holdings Channel reports. The firm owned 93,066 shares of the bank’s stock after acquiring an additional 4,690 shares during the quarter. Empowered Funds LLC’s holdings in First Bancshares were worth $2,990,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of First Bancshares in the 2nd quarter valued at $36,000. CWM LLC increased its stake 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 buying an additional 1,660 shares during the period. Quest Partners LLC acquired a new stake in First Bancshares during the 2nd quarter worth approximately $89,000. EntryPoint Capital LLC acquired a new stake in First Bancshares during the 1st quarter worth approximately $103,000. Finally, CreativeOne Wealth LLC purchased a new position in First Bancshares in the 1st quarter valued at approximately $202,000. 69.95% of the stock is currently owned by hedge funds and other institutional investors.

First Bancshares Trading Down 0.5 %

NASDAQ:FBMS opened at $36.20 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 0.84. The First Bancshares, Inc. has a 1 year low of $22.96 and a 1 year high of $38.21. The stock has a market cap of $1.13 billion, a P/E ratio of 16.38 and a beta of 0.91. The stock has a 50-day simple moving average of $33.24 and a 200-day simple moving average of $29.85.

First Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, November 8th. First Bancshares’s dividend payout ratio (DPR) is 45.25%.

Wall Street Analysts Forecast Growth

FBMS has been the topic of a number of recent research reports. StockNews.com initiated coverage on First Bancshares in a research report on Wednesday, November 13th. They set a “sell” rating on the stock. Janney Montgomery Scott cut 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 upped their target price for the stock from $31.00 to $40.00 in a research note on Friday, August 2nd. Finally, Hovde Group lifted their price target on shares of First Bancshares from $29.00 to $32.50 and gave the stock a “market perform” rating in a research note on Monday, July 29th. 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, First Bancshares presently has an average rating of “Hold” and an average price target of $35.50.

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.