First Bancshares (NASDAQ:FBMS) Sets New 52-Week High – Here’s What Happened

The First Bancshares, Inc. (NASDAQ:FBMS) shares reached a new 52-week high on Thursday . The company traded as high as $39.15 and last traded at $39.03, with a volume of 31206 shares traded. The stock had previously closed at $38.89.

Analyst Ratings Changes

Several brokerages recently weighed in on FBMS. Keefe, Bruyette & Woods raised their price target on shares of First Bancshares from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Janney Montgomery Scott cut First Bancshares from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. Finally, StockNews.com assumed coverage on First Bancshares in a research report on Saturday, February 1st. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $38.75.

First Bancshares Trading Down 1.8 %

The firm has a fifty day moving average price of $36.01 and a 200-day moving average price of $34.18. The company has a market capitalization of $1.19 billion, a P/E ratio of 15.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.84 and a quick ratio of 0.84.

First Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, February 10th. First Bancshares’s dividend payout ratio is presently 40.98%.

Hedge Funds Weigh In On First Bancshares

Several institutional investors have recently added to or reduced their stakes in FBMS. Lord Abbett & CO. LLC bought a new stake in shares of First Bancshares in the third quarter valued at $56,256,000. State Street Corp boosted its stake in First Bancshares by 3.0% during the third quarter. State Street Corp now owns 971,246 shares of the bank’s stock valued at $31,206,000 after buying an additional 28,215 shares during the period. Charles Schwab Investment Management Inc. grew its position in First Bancshares by 7.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 967,043 shares of the bank’s stock worth $33,847,000 after buying an additional 68,396 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of First Bancshares by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 675,448 shares of the bank’s stock valued at $21,706,000 after acquiring an additional 12,567 shares in the last quarter. Finally, Citigroup Inc. boosted its position in shares of First Bancshares by 1,454.0% during the 3rd quarter. Citigroup Inc. now owns 619,730 shares of the bank’s stock valued at $19,912,000 after acquiring an additional 579,851 shares during the last quarter. Institutional investors own 69.95% of the company’s stock.

First Bancshares Company Profile

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.