Principal Financial Group Inc. Invests $846,000 in The First Bancshares, Inc. (NASDAQ:FBMS)

Principal Financial Group Inc. acquired a new stake in shares of The First Bancshares, Inc. (NASDAQ:FBMS) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 26,320 shares of the bank’s stock, valued at approximately $846,000.

Other large investors have also modified their holdings of the company. Elizabeth Park Capital Advisors Ltd. bought a new position in shares of First Bancshares during the 2nd quarter worth about $4,548,000. Algebris UK Ltd bought a new stake in First Bancshares in the first quarter valued at about $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 worth $36,487,000 after purchasing an additional 91,314 shares in the last quarter. American Century Companies Inc. lifted its stake in First Bancshares by 65.0% during the second quarter. American Century Companies Inc. now owns 231,635 shares of the bank’s stock worth $6,018,000 after purchasing an additional 91,269 shares during the period. Finally, Creative Planning boosted its holdings in First Bancshares by 310.0% during the second 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 in the last quarter. 69.95% of the stock is currently owned by institutional investors and hedge funds.

First Bancshares Trading Up 2.1 %

FBMS stock opened at $37.65 on Friday. The business has a fifty day moving average price of $33.64 and a 200 day moving average price of $30.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.84 and a quick ratio of 0.84. The First Bancshares, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $38.21. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 17.04 and a beta of 0.91.

First Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.66%. First Bancshares’s dividend payout ratio (DPR) is presently 45.25%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FBMS shares. StockNews.com assumed coverage on First Bancshares in a report on Thursday. They issued a “sell” rating for the company. Keefe, Bruyette & Woods upgraded First Bancshares from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $31.00 to $40.00 in a research note on Friday, August 2nd. Janney Montgomery Scott downgraded shares of First Bancshares from a “buy” rating to a “neutral” rating in a research note on Thursday, October 24th. Finally, Hovde Group upped their target price on shares of First Bancshares from $29.00 to $32.50 and gave the stock a “market perform” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.50.

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.