First Bancshares (NASDAQ:FBMS) Receives New Coverage from Analysts at DA Davidson

DA Davidson assumed coverage on shares of First Bancshares (NASDAQ:FBMS) in a report issued on Wednesday, The Fly reports. The firm set a “buy” rating on the bank’s stock.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of First Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Stephens downgraded shares of First Bancshares from an “overweight” rating to an “equal weight” rating and set a $34.00 target price for the company. in a research note on Tuesday, July 9th. ValuEngine upgraded shares of First Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub cut shares of First Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. First Bancshares has a consensus rating of “Hold” and a consensus price target of $35.00.

FBMS traded down $0.05 during trading on Wednesday, hitting $31.02. The stock had a trading volume of 16,848 shares, compared to its average volume of 43,913. The company has a market capitalization of $538.83 million, a PE ratio of 13.55 and a beta of 0.34. First Bancshares has a twelve month low of $27.84 and a twelve month high of $39.14. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50 day simple moving average of $32.19 and a two-hundred day simple moving average of $31.12.

First Bancshares (NASDAQ:FBMS) last announced its earnings results on Monday, July 22nd. The bank reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The company had revenue of $37.49 million during the quarter, compared to the consensus estimate of $35.50 million. First Bancshares had a net margin of 20.99% and a return on equity of 10.06%. On average, equities research analysts anticipate that First Bancshares will post 2.79 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of FBMS. BlackRock Inc. raised its holdings in shares of First Bancshares by 38.9% in the second quarter. BlackRock Inc. now owns 928,987 shares of the bank’s stock worth $28,186,000 after buying an additional 259,971 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of First Bancshares by 6.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,358,252 shares of the bank’s stock worth $41,209,000 after buying an additional 80,962 shares during the last quarter. Jacobs Asset Management LLC raised its holdings in shares of First Bancshares by 7.0% in the second quarter. Jacobs Asset Management LLC now owns 610,029 shares of the bank’s stock worth $18,508,000 after buying an additional 39,999 shares during the last quarter. Mendon Capital Advisors Corp raised its holdings in shares of First Bancshares by 5.7% in the second quarter. Mendon Capital Advisors Corp now owns 546,291 shares of the bank’s stock worth $16,575,000 after buying an additional 29,426 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of First Bancshares by 3.6% in the second quarter. Vanguard Group Inc. now owns 649,671 shares of the bank’s stock worth $19,711,000 after buying an additional 22,442 shares during the last quarter. 59.49% of the stock is owned by institutional investors and hedge funds.

First Bancshares Company Profile

The First Bancshares, Inc operates as the bank 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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