First Bancshares (NASDAQ:FBMS) Lowered to Neutral at Janney Montgomery Scott

Janney Montgomery Scott downgraded shares of First Bancshares (NASDAQ:FBMS) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning, Marketbeat.com reports.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods raised shares of First Bancshares from a “market perform” rating to an “outperform” rating and raised their price target for the company from $31.00 to $40.00 in a research note on Friday, August 2nd. StockNews.com started coverage on First Bancshares in a research note on Sunday, October 20th. They issued a “sell” rating on the stock. Finally, Hovde Group increased their price objective on First Bancshares from $29.00 to $32.50 and gave the company 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $35.50.

First Bancshares Price Performance

Shares of NASDAQ FBMS opened at $32.99 on Thursday. 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 firm has a fifty day moving average of $32.47 and a 200 day moving average of $28.58. The firm has a market cap of $1.03 billion, a PE ratio of 13.09 and a beta of 0.92. First Bancshares has a one year low of $22.96 and a one year high of $34.40.

First Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 3.03%. First Bancshares’s dividend payout ratio is presently 39.68%.

Hedge Funds Weigh In On First Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of First Bancshares by 11.4% during 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 during the period. CWM LLC increased its holdings in shares of First Bancshares by 73.2% during the 3rd quarter. CWM LLC now owns 2,960 shares of the bank’s stock worth $95,000 after buying an additional 1,251 shares during the last quarter. SG Americas Securities LLC raised its position in shares of 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 during the period. Creative Planning lifted its holdings in First Bancshares by 310.0% in the second quarter. Creative Planning now owns 91,591 shares of the bank’s stock valued at $2,380,000 after acquiring an additional 69,254 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC grew its position in First Bancshares by 45.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 25,986 shares of the bank’s stock worth $675,000 after acquiring an additional 8,145 shares during the period. Institutional investors and hedge funds own 69.95% of the company’s stock.

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.