New York Life Investment Management LLC Decreases Stock Holdings in The First Bancshares, Inc. (NASDAQ:FBMS)

New York Life Investment Management LLC lowered its holdings in shares of The First Bancshares, Inc. (NASDAQ:FBMS - Free Report) by 15.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,926 shares of the bank's stock after selling 13,228 shares during the quarter. New York Life Investment Management LLC owned approximately 0.23% of First Bancshares worth $2,482,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new position in First Bancshares during the third quarter valued at $846,000. JPMorgan Chase & Co. grew its stake in shares of First Bancshares by 5.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 475,014 shares of the bank's stock valued at $15,262,000 after acquiring an additional 26,349 shares during the period. State Street Corp increased its holdings in First Bancshares by 3.0% in the 3rd quarter. State Street Corp now owns 971,246 shares of the bank's stock worth $31,206,000 after acquiring an additional 28,215 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in First Bancshares during the 3rd quarter worth approximately $1,054,000. Finally, Barclays PLC lifted its holdings in First Bancshares by 48.1% during the third quarter. Barclays PLC now owns 86,748 shares of the bank's stock valued at $2,787,000 after purchasing an additional 28,184 shares in the last quarter. Institutional investors own 69.95% of the company's stock.

First Bancshares Price Performance

FBMS stock traded down $0.34 during midday trading on Thursday, hitting $34.18. The company's stock had a trading volume of 29,875 shares, compared to its average volume of 181,322. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 13.99 and a beta of 0.94. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.33. The First Bancshares, Inc. has a 12 month low of $22.96 and a 12 month high of $39.21. The company has a 50 day moving average of $36.18 and a two-hundred day moving average of $34.83.

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First Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 2.93%. First Bancshares's payout ratio is 40.98%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FBMS. StockNews.com started coverage on shares of First Bancshares in a research note on Wednesday. They issued a "sell" rating for the company. Keefe, Bruyette & Woods increased their price target on First Bancshares from $40.00 to $45.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th.

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.