Principal Financial Group Inc. Makes New Investment in The First Bancshares, Inc. (NASDAQ:FBMS)

Principal Financial Group Inc. acquired a new stake in shares of The First Bancshares, Inc. (NASDAQ:FBMS) during the third quarter, Holdings Channel.com reports. The firm acquired 26,320 shares of the bank’s stock, valued at approximately $846,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC bought a new position in First Bancshares during the 2nd quarter valued at about $89,000. CWM LLC lifted its stake in First Bancshares by 73.2% in the third quarter. CWM LLC now owns 2,960 shares of the bank’s stock worth $95,000 after purchasing an additional 1,251 shares during the last quarter. FMR LLC boosted its position in shares of First Bancshares by 50.8% during the third quarter. FMR LLC now owns 3,194 shares of the bank’s stock valued at $103,000 after buying an additional 1,076 shares during the period. Entropy Technologies LP bought a new position in shares of First Bancshares during the third quarter valued at approximately $203,000. Finally, Arizona State Retirement System purchased a new stake in shares of First Bancshares in the second quarter worth approximately $216,000. Hedge funds and other institutional investors own 69.95% of the company’s stock.

First Bancshares Trading Up 1.6 %

Shares of NASDAQ FBMS opened at $35.29 on Friday. The First Bancshares, Inc. has a twelve month low of $22.96 and a twelve month high of $39.08. The firm has a market cap of $1.10 billion, a PE ratio of 15.97 and a beta of 0.94. The business has a fifty day simple moving average of $35.88 and a two-hundred day simple moving average of $32.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.33.

First Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.83%. First Bancshares’s payout ratio is currently 45.25%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FBMS shares. 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 company an “outperform” rating in a research note on Wednesday, December 4th. Finally, StockNews.com started coverage on shares of First Bancshares in a report on Tuesday, December 31st. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, First Bancshares presently has a consensus rating of “Hold” and a consensus target price of $37.17.

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.