First Bancshares (NASDAQ:FBMS) Reaches New 52-Week High – Time to Buy?

Shares of The First Bancshares, Inc. (NASDAQ:FBMS) reached a new 52-week high during trading on Thursday . The stock traded as high as $39.15 and last traded at $39.03, with a volume of 31206 shares changing hands. The stock had previously closed at $38.89.

Analyst Upgrades and Downgrades

FBMS has been the subject of several research reports. StockNews.com assumed coverage on First Bancshares in a research report on Saturday, February 1st. They set a “sell” rating for the company. Janney Montgomery Scott downgraded First Bancshares from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of First Bancshares from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.75.

First Bancshares Price Performance

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

First Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th will be paid 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 dividend yield of 2.56%. First Bancshares’s dividend payout ratio (DPR) is currently 40.98%.

Institutional Investors Weigh In On First Bancshares

A number of large investors have recently added to or reduced their stakes in FBMS. Lord Abbett & CO. LLC acquired a new stake in shares of First Bancshares during the 3rd quarter valued at approximately $56,256,000. State Street Corp grew its position in shares of First Bancshares by 3.0% during the 3rd quarter. State Street Corp now owns 971,246 shares of the bank’s stock valued at $31,206,000 after buying an additional 28,215 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of First Bancshares by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 967,043 shares of the bank’s stock valued at $33,847,000 after buying an additional 68,396 shares during the last quarter. Geode Capital Management LLC raised its stake in First Bancshares by 1.9% during the third quarter. Geode Capital Management LLC now owns 675,448 shares of the bank’s stock worth $21,706,000 after acquiring an additional 12,567 shares during the period. Finally, Citigroup Inc. boosted its stake in First Bancshares by 1,454.0% in the third quarter. Citigroup Inc. now owns 619,730 shares of the bank’s stock valued at $19,912,000 after acquiring an additional 579,851 shares during the period. 69.95% of the stock is owned by institutional investors and hedge funds.

About First Bancshares

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.