Hovde Group Lowers First Bancshares (NASDAQ:FBMS) Price Target to $28.00

First Bancshares (NASDAQ:FBMS) had its price target reduced by research analysts at Hovde Group from $29.50 to $28.00 in a research report issued to clients and investors on Monday, MarketBeat reports. The firm presently has a “market perform” rating on the bank’s stock. Hovde Group’s target price would suggest a potential upside of 11.42% from the stock’s current price.

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

First Bancshares Stock Up 0.1 %

Shares of FBMS opened at $25.13 on Monday. The stock has a market capitalization of $784.56 million, a price-to-earnings ratio of 9.97 and a beta of 0.90. First Bancshares has a 1 year low of $22.96 and a 1 year high of $32.06. The business’s 50 day simple moving average is $24.70 and its 200-day simple moving average is $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 issued its quarterly earnings data on Monday, April 29th. The bank reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.05. The business had revenue of $104.34 million for the quarter, compared to analysts’ expectations of $69.30 million. First Bancshares had a return on equity of 9.85% and a net margin of 20.00%. During the same period in the prior year, the firm earned $0.86 EPS. As a group, equities analysts expect that First Bancshares will post 2.53 earnings per share for the current fiscal year.

Institutional Trading of First Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in First Bancshares during the 3rd quarter valued at $59,000. Quest Partners LLC purchased a new stake in First Bancshares in the fourth quarter worth $87,000. Amalgamated Bank increased its stake in First Bancshares by 17.2% in the third quarter. Amalgamated Bank now owns 2,966 shares of the bank’s stock worth $80,000 after purchasing an additional 436 shares during the period. SG Americas Securities LLC purchased a new stake in First Bancshares in the fourth quarter worth $209,000. Finally, ELCO Management Co. LLC purchased a new stake in First Bancshares in the third quarter worth $201,000. Hedge funds and other 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.