Zacks Investment Research upgraded shares of First Bancshares (NASDAQ:FBMS) from a sell rating to a hold rating in a report published on Wednesday.
According to Zacks, “The FIRST BANCSHARES, INC., headquartered in Hattiesburg, Mississippi, is the parent company of The First, A National Banking Association. The First is now ranked in the top twenty banks by asset size in Mississippi. The First has operations in Hattiesburg, Laurel, Purvis, Picayune, Pascagoula, Bay St. Louis, Wiggins and Gulfport, Mississippi. The Company and its subsidiary bank engage in a general commercial and retail banking business characterized by personalized service and local decision-making, emphasizing the banking needs of small to medium-sized businesses, professional concerns and individuals. The products and services offered by the bank include deposit services, loan products, mortgage loan divisions and other services. “
Separately, BidaskClub raised shares of First Bancshares from a hold rating to a buy rating in a research note on Friday, May 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $38.00.
FBMS opened at $36.75 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.15. The company has a market cap of $454.09 million, a P/E ratio of 20.88 and a beta of -0.39. First Bancshares has a fifty-two week low of $26.10 and a fifty-two week high of $36.90.
First Bancshares (NASDAQ:FBMS) last posted its quarterly earnings results on Tuesday, April 24th. The bank reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.02). First Bancshares had a return on equity of 9.28% and a net margin of 16.11%. The business had revenue of $19.84 million for the quarter, compared to the consensus estimate of $19.96 million. equities research analysts anticipate that First Bancshares will post 2.15 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of FBMS. Schwab Charles Investment Management Inc. increased its stake in First Bancshares by 35.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 19,271 shares of the bank’s stock valued at $660,000 after purchasing an additional 5,071 shares in the last quarter. First Trust Advisors LP bought a new stake in First Bancshares in the fourth quarter valued at approximately $742,000. Wells Fargo & Company MN increased its stake in First Bancshares by 47.3% in the fourth quarter. Wells Fargo & Company MN now owns 18,562 shares of the bank’s stock valued at $635,000 after purchasing an additional 5,960 shares in the last quarter. Bank of New York Mellon Corp increased its stake in First Bancshares by 42.4% in the fourth quarter. Bank of New York Mellon Corp now owns 40,999 shares of the bank’s stock valued at $1,402,000 after purchasing an additional 12,203 shares in the last quarter. Finally, BlackRock Inc. increased its stake in First Bancshares by 22.1% in the fourth quarter. BlackRock Inc. now owns 448,434 shares of the bank’s stock valued at $15,336,000 after purchasing an additional 81,244 shares in the last quarter. 62.51% of the stock is owned by hedge funds and other institutional investors.
About First Bancshares
The First Bancshares, Inc operates as the holding company for The First, A National Banking Association 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 accounts.
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