Hovde Group Trims First Bancshares (NASDAQ:FBMS) Target Price to $28.00

First Bancshares (NASDAQ:FBMS) had its price objective trimmed by Hovde Group from $29.50 to $28.00 in a research note released on Monday, Marketbeat reports. The firm currently has a market perform rating on the bank’s stock.

Several other brokerages have also issued reports on FBMS. TheStreet lowered First Bancshares from a b- rating to a c+ rating in a research note on Wednesday, February 28th. Keefe, Bruyette & Woods reiterated a market perform rating and set a $28.00 price target on shares of First Bancshares in a research report on Friday, January 26th. StockNews.com raised shares of First Bancshares from a sell rating to a hold rating in a research note on Monday, April 29th. Finally, Stephens reaffirmed an overweight rating and set a $34.00 target price on shares of First Bancshares in a report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, First Bancshares currently has a consensus rating of Hold and a consensus target price of $31.00.

First Bancshares Trading Up 1.1 %

FBMS opened at $25.51 on Monday. First Bancshares has a 1-year low of $22.96 and a 1-year high of $32.06. The stock has a market capitalization of $796.37 million, a PE ratio of 10.12 and a beta of 0.90. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $24.73 and a two-hundred day moving average price of $25.85.

First Bancshares (NASDAQ:FBMS) last issued its quarterly earnings results on Monday, April 29th. The bank reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. First Bancshares had a net margin of 20.00% and a return on equity of 9.85%. The business had revenue of $104.34 million during the quarter, compared to analyst estimates of $69.30 million. During the same quarter last year, the business posted $0.86 earnings per share. As a group, equities analysts anticipate that First Bancshares will post 2.53 earnings per share for the current fiscal year.

First Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Tuesday, May 7th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Monday, May 6th. First Bancshares’s dividend payout ratio (DPR) is presently 39.68%.

Institutional Trading of First Bancshares

A number of institutional investors have recently modified their holdings of FBMS. Quantbot Technologies LP acquired a new stake in First Bancshares in the 3rd quarter valued at $59,000. Amalgamated Bank grew its holdings in First Bancshares by 17.2% during the third quarter. Amalgamated Bank now owns 2,966 shares of the bank’s stock worth $80,000 after purchasing an additional 436 shares during the period. Quest Partners LLC acquired a new position in shares of First Bancshares during the 4th quarter worth approximately $87,000. ELCO Management Co. LLC bought a new position in shares of First Bancshares in the third quarter valued at about $201,000. Finally, SG Americas Securities LLC bought a new stake in shares of First Bancshares during the 4th quarter worth about $209,000. 69.95% of the stock is currently owned by institutional investors.

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.