First Bancshares (FBMS) Raised to “Hold” at Zacks Investment Research

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First Bancshares (NASDAQ:FBMS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

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. “

A number of other equities research analysts also recently issued reports on FBMS. BidaskClub upgraded shares of First Bancshares from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 27th. Stephens reiterated a “buy” rating and set a $37.00 price target on shares of First Bancshares in a research report on Tuesday, February 5th. Finally, ValuEngine downgraded shares of First Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th.

FBMS traded up $0.05 during trading on Wednesday, reaching $31.29. The company’s stock had a trading volume of 30,318 shares, compared to its average volume of 32,508. First Bancshares has a 52-week low of $27.84 and a 52-week high of $43.53. The firm has a market capitalization of $529.76 million, a PE ratio of 13.66 and a beta of 0.29. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.46.

First Bancshares (NASDAQ:FBMS) last announced its quarterly earnings data on Monday, April 22nd. The bank reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.01). First Bancshares had a net margin of 18.16% and a return on equity of 11.40%. The business had revenue of $32.69 million during the quarter, compared to analysts’ expectations of $32.58 million. On average, sell-side analysts predict that First Bancshares will post 2.81 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Trustcore Financial Services LLC acquired a new stake in shares of First Bancshares during the 1st quarter valued at approximately $53,000. BNP Paribas Arbitrage SA raised its position in shares of First Bancshares by 508.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,590 shares of the bank’s stock worth $80,000 after purchasing an additional 2,164 shares during the last quarter. Legal & General Group Plc raised its position in shares of First Bancshares by 40.5% during the 4th quarter. Legal & General Group Plc now owns 2,603 shares of the bank’s stock worth $79,000 after purchasing an additional 750 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of First Bancshares by 16,750.0% during the 4th quarter. Great West Life Assurance Co. Can now owns 2,696 shares of the bank’s stock worth $78,000 after purchasing an additional 2,680 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of First Bancshares by 284.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,623 shares of the bank’s stock worth $110,000 after purchasing an additional 2,680 shares during the last quarter. Institutional investors own 51.66% of the company’s stock.

First Bancshares Company Profile

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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