First Bancshares (NASDAQ:FBMS) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Tuesday.
A number of other research analysts have also commented on the company. Zacks Investment Research raised First Bancshares from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a report on Monday, August 6th. Stephens reissued a “buy” rating and set a $37.00 price objective on shares of First Bancshares in a report on Tuesday, July 24th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $40.00.
Shares of NASDAQ FBMS opened at $40.35 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30. The stock has a market cap of $514.80 million, a PE ratio of 22.93 and a beta of -0.32. First Bancshares has a 52 week low of $27.00 and a 52 week high of $43.53.
First Bancshares (NASDAQ:FBMS) last issued its quarterly earnings data on Monday, July 23rd. The bank reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.14. The business had revenue of $27.20 million for the quarter, compared to analyst estimates of $25.59 million. First Bancshares had a return on equity of 9.83% and a net margin of 17.38%. research analysts expect that First Bancshares will post 2.25 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in First Bancshares by 47.3% in the 4th quarter. Wells Fargo & Company MN now owns 18,562 shares of the bank’s stock valued at $635,000 after buying an additional 5,960 shares during the last quarter. Geode Capital Management LLC grew its holdings in First Bancshares by 51.7% in the 4th quarter. Geode Capital Management LLC now owns 85,154 shares of the bank’s stock valued at $2,912,000 after buying an additional 29,034 shares during the last quarter. Renaissance Technologies LLC grew its holdings in First Bancshares by 29.7% in the 4th quarter. Renaissance Technologies LLC now owns 53,100 shares of the bank’s stock valued at $1,816,000 after buying an additional 12,170 shares during the last quarter. Deutsche Bank AG grew its holdings in First Bancshares by 52.7% in the 4th quarter. Deutsche Bank AG now owns 74,015 shares of the bank’s stock valued at $2,530,000 after buying an additional 25,555 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in First Bancshares in the 4th quarter valued at approximately $152,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.
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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