First Bancshares (NASDAQ:FBMS) Given New $28.00 Price Target at Hovde Group

First Bancshares (NASDAQ:FBMS - Free Report) had its price target trimmed by Hovde Group from $29.50 to $28.00 in a research note issued to investors on Monday, Marketbeat reports. The brokerage currently has a market perform rating on the bank's stock.

Several other equities research analysts also recently issued reports on the company. TheStreet downgraded First Bancshares from a b- rating to a c+ rating in a report on Wednesday, February 28th. StockNews.com raised shares of First Bancshares from a sell rating to a hold rating in a research report on Monday, April 29th. Stephens restated an overweight rating and set a $34.00 price target on shares of First Bancshares in a report on Wednesday, January 17th. Finally, Keefe, Bruyette & Woods reiterated a market perform rating and issued a $28.00 price objective on shares of First Bancshares in a research note on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $31.00.

First Bancshares Stock Up 1.3 %

FBMS stock traded up $0.33 during midday trading on Monday, reaching $25.10. 176,505 shares of the company's stock traded hands, compared to its average volume of 160,102. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.54. The firm's fifty day moving average price is $24.66 and its 200-day moving average price is $25.87. First Bancshares has a 52 week low of $22.96 and a 52 week high of $32.06. The company has a market cap of $783.62 million, a price-to-earnings ratio of 9.83 and a beta of 0.90.

First Bancshares (NASDAQ:FBMS - Get Free Report) last posted its earnings results on Monday, April 29th. The bank reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.05. The company had revenue of $104.34 million for the quarter, compared to analyst estimates of $69.30 million. First Bancshares had a net margin of 20.00% and a return on equity of 9.85%. During the same quarter in the prior year, the business posted $0.86 EPS. As a group, sell-side analysts forecast 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. Investors of record on Tuesday, May 7th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, May 6th. This represents a $1.00 annualized dividend and a yield of 3.98%. First Bancshares's payout ratio is currently 39.68%.

Institutional Trading of First Bancshares

Several hedge funds have recently added to or reduced their stakes in FBMS. Steele Capital Management Inc. purchased a new stake in shares of First Bancshares during the 4th quarter worth approximately $1,788,000. Raymond James & Associates raised its stake in shares of First Bancshares by 69.9% in the third quarter. Raymond James & Associates now owns 16,849 shares of the bank's stock valued at $454,000 after buying an additional 6,934 shares during the period. Swiss National Bank raised its stake in shares of First Bancshares by 0.8% in the third quarter. Swiss National Bank now owns 61,430 shares of the bank's stock valued at $1,657,000 after buying an additional 500 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of First Bancshares by 18.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,388 shares of the bank's stock valued at $361,000 after buying an additional 2,102 shares during the last quarter. Finally, Alps Advisors Inc. bought a new position in shares of First Bancshares during the 3rd quarter worth $327,000. Institutional investors own 69.95% of the company's stock.

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.