Bank of New York Mellon Corp boosted its stake in shares of First Bancshares Inc (NASDAQ:FBMS) by 12.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,539 shares of the bank’s stock after buying an additional 5,231 shares during the quarter. Bank of New York Mellon Corp owned 0.39% of First Bancshares worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of FBMS. Northpointe Capital LLC acquired a new position in First Bancshares during the second quarter worth about $4,577,000. Dimensional Fund Advisors LP lifted its holdings in shares of First Bancshares by 84.0% in the first quarter. Dimensional Fund Advisors LP now owns 86,450 shares of the bank’s stock valued at $2,788,000 after purchasing an additional 39,473 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of First Bancshares in the first quarter valued at about $430,000. ELCO Management Co. LLC purchased a new stake in shares of First Bancshares in the second quarter valued at about $327,000. Finally, First Trust Advisors LP lifted its holdings in shares of First Bancshares by 40.1% in the second quarter. First Trust Advisors LP now owns 30,612 shares of the bank’s stock valued at $1,101,000 after purchasing an additional 8,759 shares in the last quarter. Institutional investors own 66.67% of the company’s stock.
Several analysts have issued reports on FBMS shares. Zacks Investment Research raised shares of First Bancshares from a “hold” rating to a “strong-buy” rating and set a $44.00 price target on the stock in a report on Monday, August 6th. BidaskClub downgraded shares of First Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. Finally, Stephens reaffirmed a “buy” rating and issued a $37.00 price target on shares of First Bancshares in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $40.00.
Shares of NASDAQ FBMS opened at $37.51 on Friday. First Bancshares Inc has a 12-month low of $29.72 and a 12-month high of $43.53. The stock has a market capitalization of $510.23 million, a price-to-earnings ratio of 21.31 and a beta of -0.19. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30.
First Bancshares (NASDAQ:FBMS) last announced its quarterly earnings results on Monday, July 23rd. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. First Bancshares had a net margin of 17.38% and a return on equity of 9.83%. The company had revenue of $27.20 million for the quarter, compared to the consensus estimate of $25.59 million. On average, equities analysts predict that First Bancshares Inc will post 2.25 EPS for the current fiscal year.
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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