First Bancshares (NASDAQ:FBMS) Downgraded to Sell at BidaskClub

BidaskClub lowered shares of First Bancshares (NASDAQ:FBMS) from a hold rating to a sell rating in a report published on Saturday morning, BidAskClub reports.

A number of other equities research analysts also recently commented on the company. ValuEngine downgraded First Bancshares from a hold rating to a sell rating in a research report on Friday, December 13th. DA Davidson initiated coverage on First Bancshares in a research report on Wednesday, October 9th. They issued a buy rating and a $36.00 price objective for the company. Stephens reaffirmed a hold rating and issued a $36.00 price objective on shares of First Bancshares in a research report on Thursday, December 19th. Finally, Zacks Investment Research raised First Bancshares from a hold rating to a buy rating and set a $39.00 price objective for the company in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $37.00.

NASDAQ FBMS opened at $33.91 on Friday. First Bancshares has a fifty-two week low of $28.07 and a fifty-two week high of $35.88. The stock has a market cap of $639.86 million, a price-to-earnings ratio of 14.81 and a beta of 0.34. The business has a fifty day moving average of $34.28 and a 200-day moving average of $32.56. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.45.

First Bancshares (NASDAQ:FBMS) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. First Bancshares had a return on equity of 10.03% and a net margin of 23.57%. The company had revenue of $37.56 million during the quarter, compared to analysts’ expectations of $37.32 million. As a group, analysts anticipate that First Bancshares will post 2.81 EPS for the current year.

In other First Bancshares news, Chairman E Ricky Gibson sold 6,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $33.00, for a total transaction of $198,000.00. Following the completion of the sale, the chairman now owns 96,918 shares of the company’s stock, valued at $3,198,294. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.27% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System grew its position in First Bancshares by 1.2% during the third quarter. California State Teachers Retirement System now owns 25,841 shares of the bank’s stock valued at $835,000 after acquiring an additional 309 shares during the period. First Trust Advisors LP lifted its stake in shares of First Bancshares by 1.8% during the first quarter. First Trust Advisors LP now owns 22,589 shares of the bank’s stock worth $698,000 after purchasing an additional 390 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of First Bancshares by 206.6% during the third quarter. Tower Research Capital LLC TRC now owns 791 shares of the bank’s stock worth $26,000 after purchasing an additional 533 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of First Bancshares during the second quarter worth about $42,000. Finally, Northern Trust Corp lifted its stake in shares of First Bancshares by 1.0% during the second quarter. Northern Trust Corp now owns 147,682 shares of the bank’s stock worth $4,481,000 after purchasing an additional 1,504 shares in the last quarter. 58.22% of the stock is owned by hedge funds and other institutional investors.

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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