StockNews.com Initiates Coverage on First Bancshares (NASDAQ:FBMS)

StockNews.com started coverage on shares of First Bancshares (NASDAQ:FBMS) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the bank’s stock.

Several other equities research analysts also recently issued reports on FBMS. Hovde Group increased their target price on First Bancshares from $29.00 to $32.50 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Janney Montgomery Scott cut First Bancshares from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods upgraded First Bancshares from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $31.00 to $40.00 in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $35.50.

First Bancshares Price Performance

FBMS opened at $36.28 on Wednesday. The firm has a 50-day moving average price of $33.06 and a 200-day moving average price of $29.61. First Bancshares has a twelve month low of $22.96 and a twelve month high of $38.21. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 16.42 and a beta of 0.91.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Citigroup Inc. raised its position in First Bancshares by 1,454.0% during the third quarter. Citigroup Inc. now owns 619,730 shares of the bank’s stock valued at $19,912,000 after purchasing an additional 579,851 shares in the last quarter. Westchester Capital Management LLC bought a new stake in First Bancshares in the 3rd quarter worth approximately $8,249,000. Elizabeth Park Capital Advisors Ltd. purchased a new stake in First Bancshares in the second quarter worth approximately $4,548,000. Algebris UK Ltd bought a new position in First Bancshares during the first quarter valued at approximately $3,492,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of First Bancshares by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,404,491 shares of the bank’s stock worth $36,487,000 after acquiring an additional 91,314 shares in the last quarter. Hedge funds and other institutional investors 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.