First Bancshares (NASDAQ:FBMS) Hits New 52-Week High – Here’s Why

The First Bancshares, Inc. (NASDAQ:FBMS)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $39.15 and last traded at $39.03, with a volume of 31206 shares. The stock had previously closed at $38.89.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FBMS shares. Keefe, Bruyette & Woods lifted their price target on shares of First Bancshares from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Janney Montgomery Scott downgraded First Bancshares from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. Finally, StockNews.com initiated coverage on First Bancshares in a research report on Saturday, February 1st. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, First Bancshares has a consensus rating of “Hold” and a consensus target price of $38.75.

First Bancshares Stock Up 0.3 %

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average price is $35.96 and its 200 day moving average price is $34.09. The firm has a market capitalization of $1.22 billion, a PE ratio of 15.95 and a beta of 0.94.

First Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Monday, February 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.56%. First Bancshares’s dividend payout ratio (DPR) is 40.98%.

Institutional Investors Weigh In On First Bancshares

A number of hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in First Bancshares by 73.2% during the third quarter. CWM LLC now owns 2,960 shares of the bank’s stock worth $95,000 after acquiring an additional 1,251 shares during the period. FMR LLC grew its stake in shares of First Bancshares by 50.8% during the 3rd quarter. FMR LLC now owns 3,194 shares of the bank’s stock worth $103,000 after purchasing an additional 1,076 shares during the period. Entropy Technologies LP purchased a new position in shares of First Bancshares in the 3rd quarter valued at about $203,000. Verition Fund Management LLC acquired a new stake in shares of First Bancshares in the third quarter valued at about $236,000. Finally, Quantbot Technologies LP purchased a new stake in First Bancshares during the third quarter worth about $308,000. Institutional investors and hedge funds own 69.95% of the company’s stock.

First Bancshares Company Profile

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.