First Bancshares (FBMS) Downgraded by BidaskClub
BidaskClub lowered shares of First Bancshares (NASDAQ:FBMS) from a buy rating to a hold rating in a report released on Friday.
Several other equities research analysts also recently weighed in on FBMS. Zacks Investment Research downgraded First Bancshares from a buy rating to a hold rating in a report on Friday, December 29th. ValuEngine raised First Bancshares from a hold rating to a buy rating in a report on Sunday, December 31st. Finally, Keefe, Bruyette & Woods reissued a buy rating and issued a $39.00 price target on shares of First Bancshares in a report on Friday, December 22nd.
Shares of First Bancshares (FBMS) traded up $0.05 during mid-day trading on Friday, reaching $33.15. The company had a trading volume of 17,400 shares, compared to its average volume of 29,275. First Bancshares has a 12 month low of $26.05 and a 12 month high of $35.10. The company has a market capitalization of $371.03, a P/E ratio of 28.83 and a beta of -0.29. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86.
In other First Bancshares news, Director J Douglas Seidenburg purchased 3,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was acquired at an average price of $29.00 per share, with a total value of $87,000.00. Following the completion of the acquisition, the director now owns 100,740 shares in the company, valued at $2,921,460. The acquisition was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders acquired 4,250 shares of company stock valued at $123,250. Corporate insiders own 8.08% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Castine Capital Management LLC raised its stake in shares of First Bancshares by 7.9% in the third quarter. Castine Capital Management LLC now owns 322,714 shares of the bank’s stock worth $9,730,000 after purchasing an additional 23,764 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of First Bancshares by 46.9% in the second quarter. The Manufacturers Life Insurance Company now owns 308,592 shares of the bank’s stock worth $8,517,000 after purchasing an additional 98,592 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of First Bancshares by 15.1% in the second quarter. Vanguard Group Inc. now owns 245,310 shares of the bank’s stock worth $6,770,000 after purchasing an additional 32,117 shares during the last quarter. State Street Corp purchased a new position in shares of First Bancshares in the second quarter worth about $2,633,000. Finally, Northern Trust Corp purchased a new position in shares of First Bancshares in the second quarter worth about $2,153,000. Hedge funds and other institutional investors own 47.39% of the company’s stock.
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First Bancshares Company Profile
The First Bancshares, Inc is a bank holding company for The First, A National Banking Association (the Bank). The Company and the Bank engage in a general commercial and retail banking business for small to medium-sized businesses, professional concerns and individuals. The Bank provides a range of banking services in its primary market area of South Mississippi, South Alabama and Louisiana.
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