Water Island Capital LLC Raises Stake in The First Bancshares, Inc. (NASDAQ:FBMS)

Water Island Capital LLC boosted its holdings in The First Bancshares, Inc. (NASDAQ:FBMS) by 165.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,345 shares of the bank’s stock after purchasing an additional 21,402 shares during the quarter. Water Island Capital LLC’s holdings in First Bancshares were worth $1,202,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC grew its stake in shares of First Bancshares by 50.8% in the 3rd quarter. FMR LLC now owns 3,194 shares of the bank’s stock worth $103,000 after buying an additional 1,076 shares during the last quarter. Verition Fund Management LLC purchased a new stake in First Bancshares in the third quarter worth approximately $236,000. Stifel Financial Corp grew its position in First Bancshares by 120.5% in the 3rd quarter. Stifel Financial Corp now owns 20,218 shares of the bank’s stock worth $650,000 after purchasing an additional 11,048 shares during the period. State Street Corp grew its position 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 purchasing an additional 28,215 shares during the period. Finally, XTX Topco Ltd purchased a new stake in First Bancshares during the 3rd quarter valued at $421,000. Institutional investors own 69.95% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on First Bancshares in a research note on Sunday, April 6th. They issued a “hold” rating on the stock.

First Bancshares Stock Performance

Shares of NASDAQ FBMS opened at $33.75 on Friday. The company has a current ratio of 0.84, a quick 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 firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 13.83 and a beta of 0.92. The firm has a 50 day moving average of $35.26 and a 200 day moving average of $35.12.

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 issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.96%. First Bancshares’s dividend payout ratio is currently 40.98%.

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.