In a report released today, Matt Olney from Stephens maintained a Hold rating on The First Bancshares (FBMS), with a price target of $37. The company’s shares opened today at $31.89.
Olney observed:
“We’re pleasantly surprised the Bank has continued its M&A strategy as it announced the acquisition of First Florida Bancorp that will add scale to the Bank’s Florida franchise with 10% EPS accretion. Our revised EPS forecasts reflect the steady 2Q19 results and M&A announcement. We’re increasing our price target to $37 (was $34) which assumes 12x our 2020 EPS estimate of $3.10 (up from $2.86). We maintain our Equal-Weight rating.”
According to TipRanks.com, Olney is a 3-star analyst with an average return of 0.7% and a 51.0% success rate. Olney covers the Financial sector, focusing on stocks such as Spirit Of Texas Bancshares Inc, Business First Bancshares Inc, and Hancock Whitney Corporation.
The word on The Street in general, suggests a Hold analyst consensus rating for The First Bancshares with a $34 average price target.
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The company has a one-year high of $43.53 and a one-year low of $27.85. Currently, The First Bancshares has an average volume of 46.55K.
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First Bancshares, Inc. (Mississippi) operates as a bank holding company. It provides banking services such as personal and business which include checking, savings, and loans, cards, and others. It operates through the following segments: Commercial/Retail Bank, Mortgage Banking, and Holding Company.
