In a recent report by Bloomberg.com, The First Bancshares, Inc. (NASDAQ:FBMS) has received a consensus recommendation of “Moderate Buy” from five brokerages that currently cover the firm. Among these ratings, one analyst has provided a hold recommendation while the remaining four have assigned a buy recommendation to the company.
Analysts have also updated their coverage on the stock with an average 12-month price target of $35.60, according to data from the past year.
NASDAQ FBMS opened at $26.31 on September 25, 2023. The company has a market capitalization of $818.14 million and a price-earnings ratio of 10.32 with a beta of 0.89. Over the past year, First Bancshares experienced a low of $22.82 and reached its highest point at $35.90. The firm maintains quick and current ratios of 0.80, along with a debt-to-equity ratio of 0.45. Additionally, it boasts a 50-day simple moving average of $29.19 and a two-hundred day simple moving average of $27.02.
Several institutional investors have recently adjusted their holdings in FBMS as well, demonstrating confidence in the company’s performance and growth potential.
North Reef Capital Management LP increased its position by 50.7% during the first quarter and now owns approximately 842,260 shares valued at $21,756,000 after acquiring an additional 283,354 shares.
Petiole USA ltd also increased its position by 217.8% during the first quarter and currently holds approximately 391,647 shares valued at $6,933,000 after purchasing an additional 268,420 shares.
Another notable investor is BlackRock Inc., which expanded its position by 8.8% during the second quarter and now holds approximately 2,633,224 shares valued at $68,043,000 after purchasing an additional 213,743 shares.
Vanguard Group Inc. has also shown confidence by boosting its stake in First Bancshares by 18.2% during the third quarter. The firm currently holds approximately 1,208,528 shares valued at $36,099,000 after acquiring an additional 186,367 shares.
Finally, State Street Corp increased its stake by 25.4% during the first quarter and now owns approximately 792,033 shares valued at $20,458,000 after purchasing an additional 160,630 shares.
These significant institutional investments indicate a high level of trust in First Bancshares’ potential for growth and profitability.
First Bancshares last released its quarterly earnings data on July 26th. During that period, the bank reported earnings per share (EPS) of $0.85 for the quarter – surpassing the consensus estimate of $0.78 by $0.07. Revenue for the quarter stood at $78.45 million compared to the consensus estimate of $76.00 million.
Moreover, First Bancshares demonstrated a net margin of 21.96% and a return on equity (ROE) of 11.85%. Analysts forecast that the company will achieve earnings per share of 3.13 for the current year.
Overall, with a “Moderate Buy” consensus recommendation from analysts and positive investment activity from institutional investors, First Bancshares exhibits potential for future growth and is worth considering as part of an investment portfolio in the financial sector.
Please note that this article is based on information available as of September 25th, 2023 and may be subject to change as new data becomes available.
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First Bancshares Demonstrates Strong Performance and Increased Dividend Payout, Garnering Positive Analyst Ratings
On September 25, 2023, several equities research analysts provided their insights on First Bancshares (FBMS) shares. StockNews.com initiated coverage and assigned a “hold” rating on the stock in a report published on August 17th. Meanwhile, Stephens, another research firm, raised their price target for First Bancshares from $32.00 to $38.00 and gave the company an “overweight” rating in a research report issued on July 28th. Lastly, DA Davidson upgraded First Bancshares from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research report released on August 29th.
In addition to these analyst ratings, First Bancshares made further headlines by recently disclosing its quarterly dividend payment. Shareholders of record as of August 8th were entitled to receive a dividend of $0.23 per share on Thursday, August 24th. This new dividend represents an increase from First Bancshares’ previous quarterly dividend of $0.22 and translates into an annualized dividend of $0.92 with a dividend yield of 3.50%. The ex-dividend date for this payment was recorded as Monday, August 7th.
The announcement of an increased dividend payout is undoubtedly good news for shareholders investing in First Bancshares. With its elevated annualized dividend and promising yield, the company remains committed to rewarding its investors while generating sustainable growth.
First Bancshares has managed to capture the attention of equities research analysts due to its consistent performance and positive outlook within the market. Furthermore, the recent upgrades and positive commentary from reputable firms such as Stephens and DA Davidson further validate confidence in First Bancshares’ future prospects.
As we move forward into the fourth quarter of 2023, it will be interesting to see how these analyst ratings and the improved dividend payout impact investor sentiment towards First Bancshares. Investors, particularly those seeking stability and regular income from their investments, may find the opportunity offered by First Bancshares’ dividend yield appealing. Nonetheless, prudent investors should perform thorough due diligence and conduct their own analysis before making any investment decisions.
Overall, First Bancshares has demonstrated its ability to meet the expectations of analysts and shareholders alike, with positive analyst ratings and an increased dividend payout. As we navigate through a complex financial landscape, these factors might contribute to the steady growth trajectory of First Bancshares in the foreseeable future.
