First Bancshares (NASDAQ:FBMS) Shares Gap Down - Should You Sell?

The First Bancshares, Inc. (NASDAQ:FBMS - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $33.79, but opened at $32.06. First Bancshares shares last traded at $33.08, with a volume of 24,502 shares.

Analyst Upgrades and Downgrades

FBMS has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upgraded First Bancshares from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $31.00 to $40.00 in a report on Friday, August 2nd. StockNews.com began coverage on shares of First Bancshares in a research note on Sunday. They set a "sell" rating for the company. Hovde Group raised their price target on shares of First Bancshares from $29.00 to $32.50 and gave the stock a "market perform" rating in a research report on Monday, July 29th. Finally, Janney Montgomery Scott lowered shares of First Bancshares from a "buy" rating to a "neutral" rating in a report on Thursday. One 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 MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $35.50.

First Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day moving average of $32.42 and a 200 day moving average of $28.43. The stock has a market capitalization of $1.04 billion, a P/E ratio of 13.41 and a beta of 0.92.

First Bancshares (NASDAQ:FBMS - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The business had revenue of $104.35 million for the quarter, compared to analysts' expectations of $70.40 million. First Bancshares had a net margin of 18.71% and a return on equity of 8.82%. During the same quarter last year, the company earned $0.85 EPS. Equities analysts predict that The First Bancshares, Inc. will post 2.55 EPS for the current year.

First Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 3.01%. First Bancshares's dividend payout ratio is presently 39.68%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd acquired a new stake in First Bancshares in the fourth quarter worth about $226,000. FCG Investment Co acquired a new position in shares of First Bancshares during the first quarter valued at approximately $679,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in First Bancshares by 49.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,006 shares of the bank's stock worth $540,000 after purchasing an additional 6,904 shares in the last quarter. GSA Capital Partners LLP lifted its position in First Bancshares by 47.0% in the first quarter. GSA Capital Partners LLP now owns 24,549 shares of the bank's stock worth $637,000 after purchasing an additional 7,846 shares during the period. Finally, Quantbot Technologies LP boosted its stake in First Bancshares by 652.7% during the 1st quarter. Quantbot Technologies LP now owns 7,474 shares of the bank's stock valued at $194,000 after purchasing an additional 6,481 shares in the last quarter. 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.