Strategic Financial Concepts LLC Purchases Shares of 179,900 The First Bancshares, Inc. (NASDAQ:FBMS)

Strategic Financial Concepts LLC acquired a new position in shares of The First Bancshares, Inc. (NASDAQ:FBMS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 179,900 shares of the bank’s stock, valued at approximately $6,296,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lord Abbett & CO. LLC bought a new stake in First Bancshares during the third quarter worth about $56,256,000. Citigroup Inc. grew its position in First Bancshares by 1,454.0% during the 3rd quarter. Citigroup Inc. now owns 619,730 shares of the bank’s stock worth $19,912,000 after acquiring an additional 579,851 shares during the last quarter. Westchester Capital Management LLC bought a new stake in First Bancshares during the 3rd quarter worth approximately $8,249,000. ABC Arbitrage SA acquired a new stake in First Bancshares during the 4th quarter valued at $4,543,000. Finally, Versor Investments LP bought a new position in First Bancshares in the 3rd quarter valued at $1,666,000. 69.95% of the stock is owned by institutional investors.

First Bancshares Stock Performance

Shares of NASDAQ:FBMS opened at $37.86 on Friday. 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 $1.18 billion, a P/E ratio of 15.52 and a beta of 0.94. The business has a 50-day moving average price of $36.08 and a two-hundred day moving average price of $34.45.

First Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, February 10th. First Bancshares’s payout ratio is 40.98%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FBMS. Janney Montgomery Scott cut First Bancshares from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their target price 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. Finally, StockNews.com assumed coverage on shares of First Bancshares in a research note on Sunday, February 9th. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.75.

First Bancshares Company 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.