The First Bancshares, Inc. operates as the bank holding company for The First, A National Banking Association 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. The company also provides commercial loans comprising secured and unsecured loans for working capital, business expansion, and purchase of equipment and machinery; consumer loans consisting of equity lines of credit, as well as secured and unsecured loans for financing automobiles, home improvements, education, and personal investments; and real estate construction and acquisition loans. In addition, it originates loans to purchase existing residential homes or construct new homes, and to refinance existing mortgages; and provides financial and wealth management services. Further, the company offers internet banking services, automated teller machines, voice response telephone inquiry services, commercial sweep accounts, cash management services, safe deposit boxes, merchant, mobile deposit, direct deposit of payroll and social security checks, automatic drafts for various accounts, and credit card services. It primarily serves small to medium-sized businesses, professional concerns, individuals, associations and organizations, and governmental authorities. As of December 31, 2020, the company operated 84 locations in Mississippi, Alabama, Florida, Georgia and Louisiana. The First Bancshares, Inc. was incorporated in 1995 and is headquartered in Hattiesburg, Mississippi.
IPO Year:
Exchange: NASDAQ
Website: thefirstbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/24/2024 | Buy → Neutral | Janney | |
| 8/2/2024 | $31.00 → $40.00 | Mkt Perform → Outperform | Keefe Bruyette |
| 7/29/2024 | $29.00 → $32.50 | Market Perform | Hovde Group |
| 5/6/2024 | $29.50 → $28.00 | Market Perform | Hovde Group |
| 8/29/2023 | $34.00 | Neutral → Buy | DA Davidson |
| 1/4/2023 | $35.00 | Outperform → Market Perform | Hovde Group |
| 11/9/2022 | $33.50 → $39.00 | Neutral → Buy | Janney |
| 10/31/2022 | $38.00 | Market Perform → Outperform | Hovde Group |
| 7/28/2022 | Buy → Neutral | Janney |
Janney downgraded First Bancshares from Buy to Neutral
Keefe Bruyette upgraded First Bancshares from Mkt Perform to Outperform and set a new price target of $40.00 from $31.00 previously
Hovde Group reiterated coverage of First Bancshares with a rating of Market Perform and set a new price target of $32.50 from $29.00 previously
Hovde Group reiterated coverage of First Bancshares with a rating of Market Perform and set a new price target of $28.00 from $29.50 previously
DA Davidson upgraded First Bancshares from Neutral to Buy and set a new price target of $34.00
Hovde Group downgraded First Bancshares from Outperform to Market Perform and set a new price target of $35.00
Janney upgraded First Bancshares from Neutral to Buy and set a new price target of $39.00 from $33.50 previously
Hovde Group upgraded First Bancshares from Market Perform to Outperform and set a new price target of $38.00
Janney downgraded First Bancshares from Buy to Neutral
DA Davidson downgraded First Bancshares from Buy to Neutral and set a new price target of $44.50 from $44.00 previously
The First Bancshares, Inc. (NASDAQ:FBMS) ("First Bancshares" or the "Company"), the holding company for The First Bank, announced today that M. Ray "Hoppy" Cole, Jr., the Chief Executive Officer of First Bancshares, assumed the additional position of Chairman of the Board of Directors of each of First Bancshares and The First Bank, effective August 18, 2022. E. Ricky Gibson, the former Chairman of the Board of First Bancshares, will continue to serve as a member of the Board of Directors of each of First Bancshares and The First Bank, and Ted E. Parker has been appointed to serve as Lead Independent Director, effective as of August 18, 2022. Mr. Cole said, "Ricky has been an integral part
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The First Bancshares, Inc. ("FBMS" or "the Company") (NYSE:FBMS), holding company for The First Bank, (www.thefirstbank.com) reported today financial results for the quarter ended September 30, 2024. Highlights for the Quarter: Net income available to common shareholders totaled $18.6 million for the quarter ended September 30, 2024, representing a decrease of 5.7% when compared to $19.7 million for the quarter ended June 30, 2024. The Company recorded $1.0 million provision for credit losses for the quarter ended September 30, 2024 and $1.7 million provision for credit losses for the quarter ended June 30, 2024. Excluding one-time items detailed in the tables located in the appendix o
The First Bancshares, Inc. ("The First") (NYSE:FBMS), holding company for The First Bank, (www.thefirstbank.com), announced today that the previously announced merger between The First and Renasant Corporation ("Renasant"), pursuant to the Agreement and Plan of Merger, dated as of July 29, 2024, (the "Merger Agreement"), has been approved by its shareholders. Completion of the transaction remains subject to customary closing conditions, including the receipt of required regulatory approvals. About The First Bancshares, Inc. The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is the parent company of The First Bank. Founded in 1996, The First Bank has operations in Missi
Announces Five-Year Community Benefit Plan Renasant Corporation (NYSE:RNST) ("Renasant") and The First Bancshares, Inc. ("The First") (NYSE:FBMS) jointly announced today that they have entered into a definitive agreement and plan of merger, pursuant to which The First will merge with and into Renasant (the "Merger") in an all-stock transaction valued at approximately $1.2 billion, based on Renasant's closing stock price as of July 26, 2024. The Merger has been approved unanimously by each company's board of directors and is expected to close in the first half of 2025. Completion of the transaction is subject to customary closing conditions, including the receipt of required regulatory app
The First Bancshares, Inc. ("FBMS" or "the Company") (NYSE:FBMS), holding company for The First Bank, (www.thefirstbank.com) reported today financial results for the quarter ended June 30, 2024. Highlights for the Quarter: Net income available to common shareholders totaled $19.7 million for the quarter ended June 30, 2024, representing a decrease of 4.5% when compared to $20.6 million for the quarter ended March 31, 2024. The Company recorded $1.7 million provision for credit losses for the quarter ended June 30, 2024 and no provision for credit losses for the quarter ended March 31, 2024. Pre-tax pre-provision operating earnings (non-GAAP) totaled $27.4 million for the quarter en
The First Bancshares, Inc. ("FBMS" or "the Company") (NYSE:FBMS), holding company for The First Bank, (www.thefirstbank.com) will announce 2024 second quarter results following the NYSE's closing on Wednesday, July 24, 2024. The Company will hold executive management's quarterly conference call on Thursday, July 25, 2024 at 11:00 AM Eastern Time (10:00 AM Central Time). The webcast is accessible by clicking on the following link: https://register.vevent.com/register/BI543394697ff8411dad8a7bcdd9804108 The webcast will be archived on www.thefirstbank.com after the call. About The First Bancshares, Inc. The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is the par
The First Bancshares, Inc. (NASDAQ:FBMS), holding company for The First Bank, (www.thefirstbank.com) will participate in the 2024 Gulf South Bank Conference, which is being held April 29, 2024 through April 30, 2024 at the Four Seasons Hotel, New Orleans, Louisiana and will have one-on-one meetings with certain bank stock analysts and investors. The presentation prepared for use during these meetings is available at the company's website www.thefirstbank.com under Investor Relations>Presentations and Press Releases>Presentations. The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is the parent company of The First Bank. Founded in 1996, the First has operations in Mi
The First Bancshares, Inc. ("FBMS" or "the Company") (NASDAQ:FBMS), holding company for The First Bank, (www.thefirstbank.com) reported today financial results for the quarter ended March 31, 2024. Highlights for the Quarter: Net income available to common shareholders totaled $20.6 million for the quarter ended March 31, 2024, representing an increase of 86.7% when compared to $11.0 million for the quarter ended December 31, 2023. Several one-time items are detailed in the tables located in the appendix of this release. Excluding one-time items detailed in the tables located in the appendix of this release, net earnings available to common shareholders, operating (non-GAAP) increas
The First Bancshares, Inc. ("FBMS" or "the Company") (NASDAQ:FBMS), holding company for The First Bank, (www.thefirstbank.com) will announce 2024 first quarter results following the NASDAQ's closing on Wednesday, April 24, 2024. The Company will hold executive management's quarterly conference call on Thursday, April 25, 2024 at 11:00 AM Eastern Time (10:00 AM Central Time). The webcast is accessible by clicking on the following link: https://register.vevent.com/register/BIbc177289ae6b45cc8d010c66fc8b81d9 The webcast will be archived on www.thefirstbank.com after the call. About The First Bancshares, Inc. The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is th
The First Bancshares, Inc. (NASDAQ:FBMS) ("First Bancshares" or the "Company"), the holding company for The First Bank, announced today that the Company's board of directors has approved a new share repurchase program for the 2024 calendar year. Under the program, the Company may, but is not required to, from time to time repurchase up to $50 million of shares of its common stock in any manner determined appropriate by the Company's management. The actual timing and method of any purchases, the target number of shares and the maximum price (or range of prices) under the program, will be determined by management at its discretion and will depend on a number of factors, including the market
The First Bancshares, Inc. (NASDAQ:FBMS), holding company for The First Bank, (www.thefirstbank.com) will participate in the Janney CEO Forum which is being held January 31, 2024 - February 1, 2024 at the Hyatt Regency Resort & Spa at Gainey Ranch, Scottsdale, Arizona, and will have one-on-one meetings with certain bank stock analysts and investors. The presentation prepared for use during these meetings is available at the company's website www.thefirstbank.com under Investor Relations>Presentations and Press Releases>Presentations. The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is the parent company of The First Bank. Founded in 1996, the First has operations i
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The First Bancshares, Inc. ("FBMS" or "the Company") (NYSE:FBMS), holding company for The First Bank, (www.thefirstbank.com) reported today financial results for the quarter ended September 30, 2024. Highlights for the Quarter: Net income available to common shareholders totaled $18.6 million for the quarter ended September 30, 2024, representing a decrease of 5.7% when compared to $19.7 million for the quarter ended June 30, 2024. The Company recorded $1.0 million provision for credit losses for the quarter ended September 30, 2024 and $1.7 million provision for credit losses for the quarter ended June 30, 2024. Excluding one-time items detailed in the tables located in the appendix o
Announces Five-Year Community Benefit Plan Renasant Corporation (NYSE:RNST) ("Renasant") and The First Bancshares, Inc. ("The First") (NYSE:FBMS) jointly announced today that they have entered into a definitive agreement and plan of merger, pursuant to which The First will merge with and into Renasant (the "Merger") in an all-stock transaction valued at approximately $1.2 billion, based on Renasant's closing stock price as of July 26, 2024. The Merger has been approved unanimously by each company's board of directors and is expected to close in the first half of 2025. Completion of the transaction is subject to customary closing conditions, including the receipt of required regulatory app
The First Bancshares, Inc. ("FBMS" or "the Company") (NYSE:FBMS), holding company for The First Bank, (www.thefirstbank.com) reported today financial results for the quarter ended June 30, 2024. Highlights for the Quarter: Net income available to common shareholders totaled $19.7 million for the quarter ended June 30, 2024, representing a decrease of 4.5% when compared to $20.6 million for the quarter ended March 31, 2024. The Company recorded $1.7 million provision for credit losses for the quarter ended June 30, 2024 and no provision for credit losses for the quarter ended March 31, 2024. Pre-tax pre-provision operating earnings (non-GAAP) totaled $27.4 million for the quarter en
The First Bancshares, Inc. ("FBMS" or "the Company") (NYSE:FBMS), holding company for The First Bank, (www.thefirstbank.com) will announce 2024 second quarter results following the NYSE's closing on Wednesday, July 24, 2024. The Company will hold executive management's quarterly conference call on Thursday, July 25, 2024 at 11:00 AM Eastern Time (10:00 AM Central Time). The webcast is accessible by clicking on the following link: https://register.vevent.com/register/BI543394697ff8411dad8a7bcdd9804108 The webcast will be archived on www.thefirstbank.com after the call. About The First Bancshares, Inc. The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is the par
The First Bancshares, Inc. ("FBMS" or "the Company") (NASDAQ:FBMS), holding company for The First Bank, (www.thefirstbank.com) reported today financial results for the quarter ended March 31, 2024. Highlights for the Quarter: Net income available to common shareholders totaled $20.6 million for the quarter ended March 31, 2024, representing an increase of 86.7% when compared to $11.0 million for the quarter ended December 31, 2023. Several one-time items are detailed in the tables located in the appendix of this release. Excluding one-time items detailed in the tables located in the appendix of this release, net earnings available to common shareholders, operating (non-GAAP) increas
The First Bancshares, Inc. ("FBMS" or "the Company") (NASDAQ:FBMS), holding company for The First Bank, (www.thefirstbank.com) will announce 2024 first quarter results following the NASDAQ's closing on Wednesday, April 24, 2024. The Company will hold executive management's quarterly conference call on Thursday, April 25, 2024 at 11:00 AM Eastern Time (10:00 AM Central Time). The webcast is accessible by clicking on the following link: https://register.vevent.com/register/BIbc177289ae6b45cc8d010c66fc8b81d9 The webcast will be archived on www.thefirstbank.com after the call. About The First Bancshares, Inc. The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is th
The First Bancshares, Inc. ("FBMS" or "the Company") (NASDAQ:FBMS), holding company for The First Bank, (www.thefirstbank.com) reported today financial results for the quarter ended December 31, 2023. Highlights for the quarter: Net income available to common shareholders totaled $11.0 million for the quarter ended December 31, 2023, representing a decrease of 54.7% when compared to $24.4 million for the quarter ended September 30, 2023. Several one-time items are detailed in the tables located in the appendix of this release. Excluding one-time items detailed in the tables located in the appendix of this release, net earnings available to common shareholders, operating (non-GAAP) d
First Bancshares, Inc. (NASDAQ:FBMS) (the "Company"), holding company of The First Bank ("The First"), has announced the repositioning of a portion of its securities portfolio and information regarding its 2023 Fourth Quarter earnings call. Securities Portfolio Repositioning In December 2023, The First sold $123 million in available-for-sale securities with a weighted average book yield of 1.12% and average remaining life of 3 years. The First recognized a pre-tax loss on the sale of $9.7 million. The First reinvested the proceeds of the sale in available-for-sale bonds in the amount of $92 million with a weighted average life of 6 years and an average book yield of 5.33%. The First als
The First Bancshares, Inc. ("FBMS" or "the Company") (NASDAQ:FBMS), holding company for The First Bank, (www.thefirstbank.com) reported today financial results for the quarter ended September 30, 2023. Highlights for the Quarter: Net income available to common shareholders totaled $24.4 million for the quarter ended September 30, 2023, representing an increase of 2.4% when compared to $23.8 million for the quarter ended June 30, 2023. Several one-time items are detailed in the tables located in the appendix of this release. Excluding one-time items detailed in the tables located in the appendix of this release, net earnings available to common shareholders, operating (non-GAAP) dec
The First Bancshares, Inc. ("FBMS" or "the Company") (NASDAQ:FBMS), holding company for The First Bank, (www.thefirstbank.com) will announce 2023 third quarter results following the NASDAQ's closing on Wednesday, October 25, 2023. The Company will hold executive management's quarterly conference call on Thursday, October 26, 2023 at 10:00 AM Eastern Time (9:00 AM Central Time). The webcast is accessible by clicking on the following link: https://register.vevent.com/register/BI68bf3aa848aa45e49109eb1ad52aff4f The webcast will be archived on www.thefirstbank.com after the call. About The First Bancshares, Inc. The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is
First Bancshares (NASDAQ:FBMS) reported quarterly earnings of $0.63 per share which beat the analyst consensus estimate of $0.58 by 8.62 percent. The company reported quarterly sales of $57.794 million which beat the analyst consensus estimate of $57.136 million by 1.15 percent. This is a 12.47 percent decrease over sales of $66.030 million the same period last year.
The First Bancshares' common stock is expected to begin trading on the NYSE on Thursday, May 30, 2024, under the ticker symbol of "FBMS." The First Bancshares expects its common stock to continue to trade on Nasdaq until the close of the market on May 29, 2024.
First Bancshares (NASDAQ:FBMS) reported quarterly earnings of $0.65 per share which beat the analyst consensus estimate of $0.59 by 10.17 percent. This is a 24.42 percent decrease over earnings of $0.86 per share from the same period last year. The company reported quarterly sales of $57.341 million which missed the analyst consensus estimate of $59.927 million by 4.32 percent. This is a 11.68 percent decrease over sales of $64.926 million the same period last year.
More than a dozen banks in the U.S. find themselves under the keen eye of financial watchdogs due to their sizable portfolios of commercial real estate (CRE) loans. The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency jointly indicated their intent to scrutinize banks with CRE loan portfolios exceeding triple their capital and with growth that has exceeded 50% over the past three years. New York Community Bancorp, Inc (NYSE:NYCB) is not among institutions deserving increasing scrutiny. Despite having a CRE loan to total capital ratio of 462% — surpassing the regulatory concern threshold of 300% — NYCB’s portfolio growth of 25% over the pas
Monday marks the last chance for investors to receive the next dividend payout from First Bancshares (NASDAQ:FBMS). What's Happening The company announced on Wednesday that it would pay shareholders a quarterly dividend of 25 cents per share. On Tuesday, First Bancshares will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 25 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Tuesday. Shareholders who own FBMS as of the end of Monday's session are eligible to receive the 25 cents divid
Keefe, Bruyette & Woods analyst Catherine Mealor downgrades First Bancshares (NASDAQ:FBMS) from Outperform to Market Perform and announces $28 price target.
The Company announced that its Board of Directors declared a cash dividend of $0.25 per share, a 4% increase over previous quarter, per share to be paid on its common stock on February 23, 2024 to shareholders of record as of the close of business on February 7, 2024
First Bancshares (NASDAQ:FBMS) reported quarterly adjusted earnings of $0.59 per share which missed the analyst consensus estimate of $0.68 by 13.24 percent. This is a 16.9 percent decrease over earnings of $0.71 per share from the same period last year. The company reported quarterly sales of $57.66 million which missed the analyst consensus estimate of $58.42 million by 1.29 percent. This is a 20.33 percent increase over sales of $47.92 million the same period last year.
Companies Reporting Before The Bell • Freeport-McMoRan (NYSE:FCX) is estimated to report quarterly earnings at $0.22 per share on revenue of $5.86 billion. • General Dynamics (NYSE:GD) is estimated to report quarterly earnings at $3.68 per share on revenue of $11.37 billion. • ASML Holding (NASDAQ:ASML) is expected to report quarterly earnings at $5.27 per share on revenue of $7.53 billion. • Blue Foundry (NASDAQ:BLFY) is likely to report quarterly loss at $0.15 per share on revenue of $9.55 million. • Prosperity Bancshares (NYSE:PB) is estimated to report quarterly earnings at $1.17 per share on revenue of $280.02 million. • Progressive (NYSE:PGR) is likely to report quarterly earning