Meeder Asset Management Inc. Buys Shares of 824 The First Bancshares, Inc. (NASDAQ:FBMS)

Meeder Asset Management Inc. purchased a new position in The First Bancshares, Inc. (NASDAQ:FBMS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 824 shares of the bank’s stock, valued at approximately $29,000.

A number of other hedge funds have also recently made changes to their positions in FBMS. Vestcor Inc purchased a new stake in shares of First Bancshares during the fourth quarter worth about $25,000. FMR LLC grew its position in First Bancshares by 50.8% during the 3rd quarter. FMR LLC now owns 3,194 shares of the bank’s stock worth $103,000 after purchasing an additional 1,076 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in First Bancshares during the 4th quarter valued at approximately $182,000. Verition Fund Management LLC purchased a new position in shares of First Bancshares in the third quarter worth $236,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of First Bancshares during the fourth quarter worth $307,000. 69.95% of the stock is currently owned by hedge funds and other institutional investors.

First Bancshares Stock Performance

NASDAQ:FBMS opened at $33.75 on Thursday. The company has a fifty day moving average of $35.93 and a two-hundred day moving average of $35.06. The First Bancshares, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $39.21. The stock has a market capitalization of $1.05 billion, a PE ratio of 13.83 and a beta of 0.92. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.84 and a current ratio of 0.84.

First Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Monday, February 10th. First Bancshares’s payout ratio is 40.98%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price target on First Bancshares from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. StockNews.com began coverage on First Bancshares in a research report on Saturday, March 29th. They issued a “sell” rating on the stock.

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.