In November, there was a noticeable rise in short interest in The First Bancshares, Inc. (NASDAQ: FBMS). Compared to the 880,800 shares total as of October 31, 994,600 shares totaling short interest as of November 15, an increase of 12.9%. Based on an average daily volume of 117,300 shares, the current short-interest ratio is 8.5 days.
The price of NASDAQ FBMS rose $0.30 to $34.52 on Friday. One hundred fourteen thousand seven hundred sixty-four shares of the company’s stock were moved, as opposed to the 96,679 shares typically traded in a day. The company’s debt-to-equity ratio, quick ratio, and current ratio are 0.38, 0.70, and 0.70, respectively. The company’s market value is $829.52 million, its price-to-earnings ratio is 11.78, and its beta is 0.92. First Bancshares’ 12-month low and 12-month high are $26.95 and $40.81, respectively. At 50 and 200 days out, prices for the corporation are $32.33 and $30.62, respectively.
On FBMS, there have been numerous scholarly publications’ articles. On Monday, October 31, Hovde Group revised the stock rating of First Bancshares from “outperform” to “upgrade.” The $38.00 price target was established for the stock. In a research report released on Monday, October 31, Stephens increased their “overweight” rating for First Bancshares and their price objective on the stock from $36.00 to $39.00. Janney Montgomery Scott increased their price objective on First Bancshares in a research report released on November 9 from $33.50 to $39.00.
The stock’s recommendation was also changed from “neutral” to “buy.” StockNews.com formally started covering First Bancshares shares on Wednesday, October 12. They rated the stock as a “keep.” One analyst rated the business as being on hold, while three others gave it a buy rating. According to information from Bloomberg.com, the business has a consensus rating of “Moderate Buy” and an average target price of $30.00.
The business also announced a quarterly dividend, which was paid out on Friday, November 25. On Tuesday, November 8, Shareholders of record received a $0.20 dividend. The ex-dividend date was November 7. This translates to a $0.80 dividend yearly yield, or 2.32%. First Bancshares’ most recent quarterly dividend was $0.19, representing an increase. First Bancshares’ current payout ratio is 27.30%.
Institutional investors recently traded the company’s shares. Captrust Financial Advisors boosted their ownership of First Bancshares by 174.8% during the second quarter. Captrust Financial Advisors purchased an additional 556 shares during the period, bringing their total share count of the company’s stock acquired to 874, valued at $2,500. FMR LLC boosted its stake in First Bancshares by 100.9% during the second quarter. FMR LLC currently holds 910 shares of the bank’s stock, valued at $26,000, or 457 more shares. US Bancorp Delaware boosted its ownership of First Bancshares during the third quarter by 127.4%. US Bancorp DE now owns 1,021 shares of the bank’s stock, valued at $30,000, after acquiring an additional 572 shares for a total of 1,021. SeaCrest Wealth Management LLC increased its First Bancshares loan by around $44,000 during the second quarter. Not to mention that Wipfli Financial Advisors LLC invested an additional $72,000 in First Bancshares shares in the third quarter, increasing its holdings of those securities. Institutions own a staggering 55.66% of the company’s stock.
The bank holding company is The First Bancshares, Inc., a nationwide banking organization that provides general business and retail banking services. The three divisions that make up the corporation are the holding company, mortgage banking division, and commercial/retail bank. It offers individual retirement and health savings accounts in addition to checking, NOW, and savings accounts. It also offers a variety of time deposits, including daily money market accounts and certificates of deposit with longer maturities.