The First Bancshares, Inc. (NASDAQ:FBMS) Director J Douglas Seidenburg acquired 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was purchased at an average price of $29.00 per share, for a total transaction of $87,000.00. Following the acquisition, the director now directly owns 100,740 shares in the company, valued at approximately $2,921,460. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Friday, November 3rd will be given a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Thursday, November 2nd. The First Bancshares’s dividend payout ratio (DPR) is currently 13.04%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors purchased a new position in shares of The First Bancshares in the 2nd quarter worth $128,000. Rhumbline Advisers purchased a new position in The First Bancshares in the second quarter valued at about $246,000. New York State Common Retirement Fund purchased a new position in The First Bancshares in the second quarter valued at about $251,000. Schwab Charles Investment Management Inc. purchased a new position in The First Bancshares in the second quarter valued at about $392,000. Finally, California State Teachers Retirement System purchased a new position in The First Bancshares in the second quarter valued at about $414,000. 57.88% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on FBMS. Zacks Investment Research upgraded The First Bancshares from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Tuesday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $32.00 price objective on shares of The First Bancshares in a report on Tuesday, October 3rd.
The First Bancshares Company Profile
The First Bancshares, Inc is a bank holding company for The First, A National Banking Association (the Bank). The Company and the Bank engage in a general commercial and retail banking business for small to medium-sized businesses, professional concerns and individuals. The Bank provides a range of banking services in its primary market area of South Mississippi, South Alabama and Louisiana.
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