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

Empowered Funds LLC raised its stake in The First Bancshares, Inc. (NASDAQ:FBMS) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,768 shares of the bank’s stock after acquiring an additional 4,702 shares during the period. Empowered Funds LLC owned approximately 0.31% of First Bancshares worth $3,422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Strategic Financial Concepts LLC bought a new position in shares of First Bancshares during the fourth quarter valued at $6,296,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of First Bancshares by 22.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,553 shares of the bank’s stock valued at $719,000 after purchasing an additional 3,802 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of First Bancshares by 5.9% during the third quarter. JPMorgan Chase & Co. now owns 475,014 shares of the bank’s stock valued at $15,262,000 after purchasing an additional 26,349 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of First Bancshares during the third quarter valued at $846,000. Finally, Lord Abbett & CO. LLC bought a new position in shares of First Bancshares during the third quarter valued at $56,256,000. 69.95% of the stock is owned by institutional investors.

First Bancshares Stock Down 2.1 %

FBMS stock opened at $37.45 on Thursday. The First Bancshares, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $39.21. The business’s 50-day moving average is $36.05 and its two-hundred day moving average is $34.37. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 15.35 and a beta of 0.94.

First Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Monday, February 10th. First Bancshares’s dividend payout ratio is 40.98%.

Wall Street Analysts Forecast Growth

FBMS has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upped their price target on First Bancshares from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. StockNews.com initiated coverage on First Bancshares in a report on Sunday. They set a “sell” rating on the stock. Finally, Janney Montgomery Scott downgraded First Bancshares from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $38.75.

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.