Bank of New York Mellon Corp Has $5.08 Million Stake in The First Bancshares, Inc. (NASDAQ:FBMS)

Bank of New York Mellon Corp reduced its holdings in The First Bancshares, Inc. (NASDAQ:FBMS) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,188 shares of the bank’s stock after selling 21,776 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.47% of First Bancshares worth $5,082,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Lord Abbett & CO. LLC bought a new position in First Bancshares in the 3rd quarter valued at $56,256,000. Citigroup Inc. increased its stake in shares of First Bancshares by 1,454.0% in the third quarter. Citigroup Inc. now owns 619,730 shares of the bank’s stock valued at $19,912,000 after buying an additional 579,851 shares in the last quarter. Westchester Capital Management LLC bought a new position in shares of First Bancshares in the third quarter valued at about $8,249,000. Strategic Financial Concepts LLC acquired a new position in First Bancshares during the 4th quarter worth about $6,296,000. Finally, ABC Arbitrage SA bought a new stake in First Bancshares during the 4th quarter worth about $4,543,000. 69.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FBMS has been the subject of a number of research analyst reports. StockNews.com assumed coverage on shares of First Bancshares in a research note on Thursday, March 13th. They issued a “sell” rating for the company. Keefe, Bruyette & Woods boosted their price objective on shares of First Bancshares from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

First Bancshares Stock Performance

Shares of NASDAQ:FBMS opened at $34.81 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.33. The First Bancshares, Inc. has a 1-year low of $22.96 and a 1-year high of $39.21. The stock has a market capitalization of $1.09 billion, a P/E ratio of 14.27 and a beta of 0.92. The business has a 50-day moving average price of $35.97 and a two-hundred day moving average price of $34.90.

First Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Monday, February 10th. First Bancshares’s dividend payout ratio (DPR) is 40.98%.

First Bancshares Profile

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.