JPMorgan Chase & Co. Buys 26,349 Shares of The First Bancshares, Inc. (NASDAQ:FBMS)

JPMorgan Chase & Co. raised its stake in shares of The First Bancshares, Inc. (NASDAQ:FBMS) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 475,014 shares of the bank’s stock after purchasing an additional 26,349 shares during the quarter. JPMorgan Chase & Co. owned 1.52% of First Bancshares worth $15,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Quest Partners LLC bought a new stake in First Bancshares during the second quarter valued at approximately $89,000. CWM LLC raised its stake in shares of First Bancshares by 73.2% during the third quarter. CWM LLC now owns 2,960 shares of the bank’s stock worth $95,000 after acquiring an additional 1,251 shares in the last quarter. FMR LLC raised its stake in shares of First Bancshares by 50.8% during the third quarter. FMR LLC now owns 3,194 shares of the bank’s stock worth $103,000 after acquiring an additional 1,076 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of First Bancshares during the third quarter worth approximately $203,000. Finally, Arizona State Retirement System purchased a new position in shares of First Bancshares during the second quarter worth approximately $216,000. 69.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on FBMS. Keefe, Bruyette & Woods lifted their price target on shares of First Bancshares from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Janney Montgomery Scott downgraded shares of First Bancshares from a “buy” rating to a “neutral” rating in a research note on Thursday, October 24th. Finally, StockNews.com began coverage on shares of First Bancshares in a research note on Wednesday. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Bancshares presently has a consensus rating of “Hold” and an average price target of $37.17.

First Bancshares Stock Down 3.0 %

Shares of NASDAQ FBMS opened at $33.21 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.33. The First Bancshares, Inc. has a 52 week low of $22.96 and a 52 week high of $39.08. The firm’s fifty day moving average is $35.93 and its 200 day moving average is $32.71. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 15.03 and a beta of 0.93.

First Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Friday, November 8th. First Bancshares’s dividend payout ratio (DPR) is currently 45.25%.

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.