Wolverine Asset Management LLC Makes New Investment in The First Bancshares, Inc. (NASDAQ:FBMS)

Wolverine Asset Management LLC purchased a new position in The First Bancshares, Inc. (NASDAQ:FBMS - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 32,800 shares of the bank's stock, valued at approximately $1,054,000. Wolverine Asset Management LLC owned about 0.11% of First Bancshares at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in shares of First Bancshares in the 2nd quarter valued at $36,000. CWM LLC boosted its holdings in First Bancshares by 3,387.8% in the second quarter. CWM LLC now owns 1,709 shares of the bank's stock valued at $44,000 after purchasing an additional 1,660 shares during the last quarter. Quest Partners LLC acquired a new stake in First Bancshares during the 2nd quarter worth about $89,000. EntryPoint Capital LLC purchased a new position in shares of First Bancshares during the 1st quarter valued at about $103,000. Finally, Quantbot Technologies LP lifted its holdings in shares of First Bancshares by 652.7% in the 1st quarter. Quantbot Technologies LP now owns 7,474 shares of the bank's stock valued at $194,000 after buying an additional 6,481 shares during the period. 69.95% of the stock is currently owned by institutional investors and hedge funds.

First Bancshares Price Performance

Shares of FBMS stock traded down $0.56 during trading hours on Wednesday, hitting $36.55. 124,427 shares of the company's stock were exchanged, compared to its average volume of 193,521. The firm has a market cap of $1.14 billion, a P/E ratio of 16.54 and a beta of 0.91. The firm has a 50 day moving average of $32.99 and a two-hundred day moving average of $29.56. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 0.33. The First Bancshares, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $38.21.

First Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders 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 annualized dividend and a dividend yield of 2.74%. First Bancshares's dividend payout ratio (DPR) is 45.25%.

Analyst Ratings Changes

FBMS has been the subject of several recent research reports. Hovde Group lifted their price target on First Bancshares from $29.00 to $32.50 and gave the company a "market perform" rating in a research report on Monday, July 29th. Janney Montgomery Scott lowered shares of First Bancshares from a "buy" rating to a "neutral" rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods raised shares of First Bancshares from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $31.00 to $40.00 in a report on Friday, August 2nd. Finally, StockNews.com began coverage on shares of First Bancshares in a report on Wednesday. They issued a "sell" rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, First Bancshares has a consensus rating of "Hold" and a consensus price target of $35.50.

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.