First Bancshares (NASDAQ:FBMS) Sets New 1-Year High – Time to Buy?

The First Bancshares, Inc. (NASDAQ:FBMS) shares reached a new 52-week high on Wednesday . The stock traded as high as $36.96 and last traded at $36.85, with a volume of 2280 shares traded. The stock had previously closed at $33.58.

Analysts Set New Price Targets

FBMS has been the topic of several research analyst reports. 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 report on Monday, July 29th. Keefe, Bruyette & Woods raised First Bancshares from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $31.00 to $40.00 in a research note on Friday, August 2nd. StockNews.com initiated coverage on First Bancshares in a research note on Tuesday. They issued a “sell” rating for the company. Finally, Janney Montgomery Scott cut shares of First Bancshares from a “buy” rating to a “neutral” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $35.50.

First Bancshares Stock Performance

The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 16.49 and a beta of 0.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a fifty day moving average of $32.74 and a 200 day moving average of $29.19.

First Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.74%. First Bancshares’s dividend payout ratio is presently 45.25%.

Institutional Investors Weigh In On First Bancshares

Hedge funds have recently modified their holdings of the company. Elizabeth Park Capital Advisors Ltd. purchased a new stake in shares of First Bancshares in the 2nd quarter valued at approximately $4,548,000. Algebris UK Ltd purchased a new position in First Bancshares in the first quarter worth approximately $3,492,000. Dimensional Fund Advisors LP raised its position in First Bancshares by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,404,491 shares of the bank’s stock valued at $36,487,000 after purchasing an additional 91,314 shares during the period. American Century Companies Inc. lifted its stake in shares of First Bancshares by 65.0% in the 2nd quarter. American Century Companies Inc. now owns 231,635 shares of the bank’s stock valued at $6,018,000 after purchasing an additional 91,269 shares during the last quarter. Finally, Creative Planning lifted its stake in shares of First Bancshares by 310.0% in the 2nd quarter. Creative Planning now owns 91,591 shares of the bank’s stock valued at $2,380,000 after purchasing an additional 69,254 shares during the last quarter. Hedge funds and other 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.