The First Bancshares, Inc. (NASDAQ:FBMS) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in The First Bancshares, Inc. (NASDAQ:FBMS) by 23.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 59,406 shares of the bank’s stock after selling 18,666 shares during the period. State of New Jersey Common Pension Fund D owned 0.19% of First Bancshares worth $1,909,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of First Bancshares during the 2nd quarter valued at $36,000. CWM LLC boosted its position in First Bancshares by 3,387.8% during the 2nd quarter. CWM LLC now owns 1,709 shares of the bank’s stock worth $44,000 after purchasing an additional 1,660 shares during the period. Quest Partners LLC purchased a new stake in First Bancshares during the 2nd quarter worth $89,000. EntryPoint Capital LLC purchased a new stake in First Bancshares during the 1st quarter worth $103,000. Finally, CreativeOne Wealth LLC purchased a new stake in First Bancshares during the 1st quarter worth $202,000. 69.95% of the stock is currently owned by institutional investors and hedge funds.

First Bancshares Stock Up 0.3 %

Shares of NASDAQ:FBMS opened at $36.37 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 0.84. The company has a market cap of $1.13 billion, a PE ratio of 16.46 and a beta of 0.91. The First Bancshares, Inc. has a 52 week low of $22.96 and a 52 week high of $38.21. The firm has a 50 day simple moving average of $33.15 and a 200 day simple moving average of $29.77.

First Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.75%. First Bancshares’s payout ratio is 45.25%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of First Bancshares from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $31.00 to $40.00 in a research report on Friday, August 2nd. StockNews.com began coverage on shares of First Bancshares in a research report on Wednesday, November 13th. They issued a “sell” rating for the company. Hovde Group upped their target price on shares of First Bancshares from $29.00 to $32.50 and gave the company a “market perform” rating in a research note on Monday, July 29th. Finally, Janney Montgomery Scott cut shares of First Bancshares from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, First Bancshares presently has a consensus rating of “Hold” and a consensus price target of $35.50.

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.