First Bancshares (NASDAQ:FBMS) Price Target Cut to $28.00

First Bancshares (NASDAQ:FBMS) had its price target decreased by equities research analysts at Hovde Group from $29.50 to $28.00 in a report issued on Monday, MarketBeat Ratings reports. The firm presently has a “market perform” rating on the bank’s stock. Hovde Group’s target price points to a potential upside of 11.42% from the company’s previous close.

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

First Bancshares Trading Up 0.1 %

Shares of First Bancshares stock opened at $25.13 on Monday. First Bancshares has a 1 year low of $22.96 and a 1 year high of $32.06. The firm has a market cap of $784.56 million, a PE ratio of 9.97 and a beta of 0.90. The stock has a fifty day moving average price of $24.70 and a 200-day moving average price of $25.86. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.85.

First Bancshares (NASDAQ:FBMS) last announced its earnings results on Monday, April 29th. The bank reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. First Bancshares had a return on equity of 9.85% and a net margin of 20.00%. The firm had revenue of $104.34 million during the quarter, compared to analyst estimates of $69.30 million. During the same period last year, the firm posted $0.86 EPS. Equities research analysts anticipate that First Bancshares will post 2.53 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC bought a new position in First Bancshares in the 1st quarter worth about $463,000. Algebris UK Ltd bought a new stake in shares of First Bancshares during the 1st quarter valued at about $3,492,000. Empowered Funds LLC boosted its position in shares of First Bancshares by 8.1% during the 1st quarter. Empowered Funds LLC now owns 82,076 shares of the bank’s stock valued at $2,130,000 after acquiring an additional 6,125 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of First Bancshares by 652.7% during the 1st quarter. Quantbot Technologies LP now owns 7,474 shares of the bank’s stock valued at $194,000 after acquiring an additional 6,481 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of First Bancshares by 47.0% during the 1st quarter. GSA Capital Partners LLP now owns 24,549 shares of the bank’s stock valued at $637,000 after acquiring an additional 7,846 shares during the last quarter. 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.