First Bancshares (FBMS) Stock Rating Upgraded by Zacks Investment Research

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First Bancshares (NASDAQ:FBMS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $39.00 price objective on the bank’s stock. Zacks Investment Research‘s price target suggests a potential upside of 8.21% from the company’s previous close.

According to Zacks, “The FIRST BANCSHARES, INC., headquartered in Hattiesburg, Mississippi, is the parent company of The First, A National Banking Association. The First is now ranked in the top twenty banks by asset size in Mississippi. The First has operations in Hattiesburg, Laurel, Purvis, Picayune, Pascagoula, Bay St. Louis, Wiggins and Gulfport, Mississippi. The Company and its subsidiary bank engage in a general commercial and retail banking business characterized by personalized service and local decision-making, emphasizing the banking needs of small to medium-sized businesses, professional concerns and individuals. The products and services offered by the bank include deposit services, loan products, mortgage loan divisions and other services. “

Other analysts have also recently issued reports about the company. Stephens reiterated a “buy” rating and set a $44.00 price target on shares of First Bancshares in a research report on Wednesday, October 24th. BidaskClub upgraded First Bancshares from a “hold” rating to a “buy” rating in a research report on Tuesday, August 21st. Finally, ValuEngine cut First Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. First Bancshares has an average rating of “Hold” and a consensus price target of $40.67.

Shares of FBMS traded up $1.01 during trading hours on Wednesday, hitting $36.04. 43,200 shares of the stock were exchanged, compared to its average volume of 34,292. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.87 and a current ratio of 0.87. First Bancshares has a 12-month low of $29.75 and a 12-month high of $43.53. The stock has a market capitalization of $449.73 million, a price-to-earnings ratio of 20.48 and a beta of -0.19.

First Bancshares (NASDAQ:FBMS) last issued its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.01. First Bancshares had a return on equity of 10.34% and a net margin of 16.09%. The firm had revenue of $26.74 million during the quarter, compared to analysts’ expectations of $26.48 million. On average, analysts predict that First Bancshares will post 2.25 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc acquired a new position in First Bancshares during the third quarter worth $114,000. Barclays PLC boosted its stake in First Bancshares by 91.2% during the first quarter. Barclays PLC now owns 3,421 shares of the bank’s stock worth $111,000 after buying an additional 1,632 shares during the last quarter. Voya Investment Management LLC acquired a new position in First Bancshares during the second quarter worth $202,000. Hartford Investment Management Co. acquired a new position in First Bancshares during the second quarter worth $204,000. Finally, Harbor Advisors LLC acquired a new position in First Bancshares during the second quarter worth $204,000. 66.95% of the stock is currently owned by institutional investors.

First Bancshares Company Profile

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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