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First Bancshares

Nasdaq:FBMS
Snowflake Description

Excellent balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FBMS
Nasdaq
$487M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

The First Bancshares, Inc. operates as the holding company for The First, A National Banking Association that provides general commercial and retail banking services. The last earnings update was 23 days ago. More info.


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FBMS Share Price and Events
7 Day Returns
1%
NasdaqGM:FBMS
3.3%
US Banks
1.4%
US Market
1 Year Returns
2.6%
NasdaqGM:FBMS
-9.2%
US Banks
2.3%
US Market
FBMS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Bancshares (FBMS) 1% 5% -7.7% 2.6% 83.4% 132.8%
US Banks 3.3% 3.5% 2.2% -9.2% 61.6% 49.7%
US Market 1.4% 5.6% 5.7% 2.3% 44.2% 40.9%
1 Year Return vs Industry and Market
  • FBMS outperformed the Banks industry which returned -9.2% over the past year.
Price Volatility
FBMS
Industry
5yr Volatility vs Market

FBMS Value

 Is First Bancshares undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First Bancshares to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our calculation method for this is changing soon.

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Bancshares.

NasdaqGM:FBMS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $29.15 * 6.2%
$1.82
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. $29.15
Discount Rate (Cost of Equity) See below 11.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:FBMS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.64
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.641 (1 + (1- 21%) (34.11%))
1.226
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.23
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.226 * 7.27%)
11.64%

Discounted Cash Flow Calculation for NasdaqGM:FBMS using Excess Returns Model Model

The calculations below outline how an intrinsic value for First Bancshares is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGM:FBMS Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6.2% – 11.64%) * $29.15)
$-1.57
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-1.57 / (11.64% - 2.73%)
$-17.66
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $29.15 + $-17.66
$11.49
NasdaqGM:FBMS Discount to Share Price
Calculation Result
Value per share (USD) From above. $11.49
Current discount Discount to share price of $32.83
= -1 x ($32.83 - $11.49) / $11.49
-185.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of First Bancshares is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First Bancshares's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Bancshares's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:FBMS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $1.62
NasdaqGM:FBMS Share Price ** NasdaqGM (2019-02-21) in USD $32.83
United States of America Banks Industry PE Ratio Median Figure of 584 Publicly-Listed Banks Companies 13.52x
United States of America Market PE Ratio Median Figure of 3,045 Publicly-Listed Companies 17.39x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First Bancshares.

NasdaqGM:FBMS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:FBMS Share Price ÷ EPS (both in USD)

= 32.83 ÷ 1.62

20.27x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Bancshares is overvalued based on earnings compared to the US Banks industry average.
  • First Bancshares is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does First Bancshares's expected growth come at a high price?
Raw Data
NasdaqGM:FBMS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
41%per year
United States of America Banks Industry PEG Ratio Median Figure of 261 Publicly-Listed Banks Companies 1.25x
United States of America Market PEG Ratio Median Figure of 2,118 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

NasdaqGM:FBMS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 20.27x ÷ 41%

0.49x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Bancshares is good value based on expected growth next year.
Price based on value of assets
What value do investors place on First Bancshares's assets?
Raw Data
NasdaqGM:FBMS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $24.49
NasdaqGM:FBMS Share Price * NasdaqGM (2019-02-21) in USD $32.83
United States of America Banks Industry PB Ratio Median Figure of 587 Publicly-Listed Banks Companies 1.26x
United States of America Market PB Ratio Median Figure of 5,129 Publicly-Listed Companies 1.87x
NasdaqGM:FBMS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:FBMS Share Price ÷ Book Value per Share (both in USD)

= 32.83 ÷ 24.49

1.34x

* Primary Listing of First Bancshares.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Bancshares is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess First Bancshares's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. First Bancshares has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FBMS Future Performance

 How is First Bancshares expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
41%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First Bancshares expected to grow at an attractive rate?
  • First Bancshares's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • First Bancshares's earnings growth is expected to exceed the United States of America market average.
  • First Bancshares's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:FBMS Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:FBMS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 41%
NasdaqGM:FBMS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 14%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 4.4%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:FBMS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:FBMS Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 138 53 3
2019-12-31 129 41 3
NasdaqGM:FBMS Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 103 21
2018-09-30 91 28 17
2018-06-30 83 26 16
2018-03-31 75 16 13
2017-12-31 73 22 11
2017-09-30 68 21 10
2017-06-30 62 13 8
2017-03-31 56 10 8
2016-12-31 51 8 10
2016-09-30 49 5 10
2016-06-30 47 9 9
2016-03-31 46 10 9

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First Bancshares's earnings are expected to grow significantly at over 20% yearly.
  • First Bancshares's revenue is expected to grow by 14% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:FBMS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from First Bancshares Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:FBMS Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 3.05 3.10 3.00 3.00
2019-12-31 2.43 2.82 2.16 3.00
NasdaqGM:FBMS Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 1.62
2018-09-30 1.39
2018-06-30 1.47
2018-03-31 1.33
2017-12-31 1.12
2017-09-30 1.25
2017-06-30 1.11
2017-03-31 1.30
2016-12-31 1.78
2016-09-30 1.82
2016-06-30 1.76
2016-03-31 1.68

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • First Bancshares is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess First Bancshares's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First Bancshares has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FBMS Past Performance

  How has First Bancshares performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First Bancshares's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First Bancshares has delivered over 20% year on year earnings growth in the past 5 years.
  • First Bancshares's 1-year earnings growth exceeds its 5-year average (99.9% vs 25.9%)
  • First Bancshares's earnings growth has exceeded the US Banks industry average in the past year (99.9% vs 40.2%).
Earnings and Revenue History
First Bancshares's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First Bancshares Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:FBMS Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 103.33 21.23 47.33
2018-09-30 90.89 16.78 51.95
2018-06-30 83.07 16.33 49.23
2018-03-31 75.07 13.45 46.84
2017-12-31 73.02 10.62 46.74
2017-09-30 67.67 10.31 38.26
2017-06-30 62.19 8.07 36.42
2017-03-31 56.46 8.27 33.50
2016-12-31 50.91 9.67 30.73
2016-09-30 49.11 9.83 28.25
2016-06-30 47.10 9.50 27.15
2016-03-31 45.56 9.03 26.41
2015-12-31 44.17 8.46 26.07
2015-09-30 43.09 8.14 26.10
2015-06-30 42.32 7.45 26.21
2015-03-31 40.88 6.87 25.80
2014-12-31 39.78 6.25 25.32
2014-09-30 38.39 5.69 25.08
2014-06-30 37.34 5.24 23.96
2014-03-31 36.04 4.42 23.29
2013-12-31 34.41 4.22 22.11
2013-09-30 32.13 3.89 19.11
2013-06-30 29.52 3.65 17.86
2013-03-31 27.99 3.88 16.98
2012-12-31 27.29 3.62 16.73
2012-09-30 26.75 3.43 17.82
2012-06-30 25.77 3.32 17.05
2012-03-31 24.20 2.98 15.85

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First Bancshares has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Bancshares used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if First Bancshares improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess First Bancshares's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First Bancshares has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FBMS Health

 How is First Bancshares's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of First Bancshares's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First Bancshares Company Filings, last reported 1 month ago.

NasdaqGM:FBMS Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 363.25 166.02 159.11
2018-09-30 288.80 160.63 122.37
2018-06-30 285.83 85.71 120.43
2018-03-31 258.54 39.34 162.52
2017-12-31 222.47 115.09 62.22
2017-09-30 166.98 104.63 93.32
2017-06-30 162.88 69.68 92.60
2017-03-31 159.01 49.72 148.51
2016-12-31 154.53 80.19 62.12
2016-09-30 112.66 78.31 70.11
2016-06-30 110.30 78.31 54.78
2016-03-31 107.20 89.29 95.97
2015-12-31 103.44 121.65 41.26
2015-09-30 101.62 69.30 65.23
2015-06-30 98.43 54.30 62.02
2015-03-31 98.77 59.76 94.47
2014-12-31 96.22 100.91 44.62
2014-09-30 93.59 59.77 50.45
2014-06-30 89.78 23.81 55.44
2014-03-31 87.50 25.31 81.98
2013-12-31 85.11 63.60 39.25
2013-09-30 83.76 40.31 51.76
2013-06-30 82.62 26.81 81.84
2013-03-31 87.07 27.07 91.45
2012-12-31 65.89 48.50 30.88
2012-09-30 65.37 27.09 36.71
2012-06-30 63.30 38.60 23.13
2012-03-31 61.59 37.11 46.91
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • First Bancshares has an acceptable proportion of non-loan assets held.
  • First Bancshares's liabilities are made up of primarily low risk sources of funding.
  • Loans at First Bancshares are broadly funded by customer deposits.
  • First Bancshares's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • First Bancshares has a low allowance for bad loans.
  • First Bancshares has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess First Bancshares's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First Bancshares has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FBMS Dividends

 What is First Bancshares's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.85%
Current annual income from First Bancshares dividends. Estimated to be 0.74% next year.
If you bought $2,000 of First Bancshares shares you are expected to receive $17 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First Bancshares's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • First Bancshares's dividend is below the markets top 25% of dividend payers in United States of America (3.54%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:FBMS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 467 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2001 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:FBMS Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.25 3.00
2019-12-31 0.23 3.00
NasdaqGM:FBMS Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-01-29 0.280 0.859
2018-10-23 0.200 0.609
2018-08-09 0.200 0.506
2018-07-24 0.200 0.519
2018-04-25 0.200 0.575
2018-03-16 0.200 0.623
2018-01-26 0.200 0.620
2017-11-09 0.150 0.454
2017-10-24 0.150 0.482
2017-07-21 0.150 0.524
2017-05-10 0.150 0.541
2017-04-21 0.150 0.526
2017-01-26 0.150 0.527
2016-10-14 0.150 0.606
2016-07-22 0.150 0.841
2016-04-21 0.150 0.889
2016-03-30 0.150 0.951
2015-10-12 0.150 0.880
2015-07-17 0.150 0.867
2015-04-23 0.150 0.907
2015-01-30 0.150 0.973
2014-10-31 0.150 1.013
2014-07-31 0.150 1.034
2014-04-24 0.150 1.047
2014-02-04 0.150 1.045
2013-10-31 0.150 1.025
2013-07-26 0.150 1.079
2013-04-25 0.150 1.157
2013-01-25 0.150 1.307
2012-11-13 0.150 1.564
2012-10-23 0.150 1.540
2012-07-23 0.150 1.545
2012-04-25 0.150 1.652
2012-01-30 0.150 1.704
2011-11-08 0.150 1.983
2011-08-03 0.150 1.747
2011-05-03 0.150 1.568
2011-02-09 0.150 1.706
2010-09-22 0.100 1.114
2010-08-02 0.100 1.219
2010-05-19 0.100 1.246
2010-05-06 0.100 1.008
2010-02-03 0.100 1.131
2009-11-24 0.000 0.000
2009-10-20 0.000 0.000
2009-08-13 0.000 0.000
2009-08-05 0.000 0.000
2009-05-27 0.000 0.000
2009-05-20 0.000 0.000
2009-03-31 0.000 0.000
2009-02-24 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of First Bancshares's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (7.4x coverage).
Future Payout to shareholders
  • No need to calculate the sustainability of First Bancshares's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess First Bancshares's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First Bancshares afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Bancshares has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FBMS Management

 What is the CEO of First Bancshares's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Hoppy Cole
COMPENSATION $939,299
AGE 56
TENURE AS CEO 9.4 years
CEO Bio

Mr. Milton Ray Cole, Jr., also known as Hoppy, has been the President of First BancShares Inc. since August 8, 2005. Mr. Cole has been the Chief Executive Officer of First Bancshares Inc. and The First, A National Banking Association (known as The First National Bank) since September 2009. He serves as President of the Picayune branch of First Bancshares Inc. He has worked at for 16 years at The First, a national banking association. He served as President of the Picayune branch of The First National Bank until August 8, 2005. Prior to joining the First Bancshares Inc. in September 2002, Mr. Cole served as Secretary, Treasurer and Chief Financial Officer of the Headrick Companies, Inc. for eleven years. He began his career with The First National Bank of Commerce in New Orleans, Louisiana and held the position of Corporate Banking Officer from 1985 to 1988. In December 1988, Mr. Cole joined Sunburst Bank in Laurel, Mississippi serving as Senior Lender and also served as President of the Laurel office. He has been a Director of Mississippi Association Of Financial Institutions For Deposit Inc. since June 18, 2015. He has been a Director of First Bancshares Inc. since 2001 and also serves as a Director of The First National Bank, a subsidiary of First Bancshares Inc. He serves as Director of Sunburst Bank and The First National Bank. He served as a Director of Laurel Bank and First National Bank of the Pine Belt. He graduated from the University of Mississippi where he earned a Bachelor's and Master's Degree in Business Administration. Mr. Cole also attended the Stonier Graduate School of Banking at the University of Delaware.

CEO Compensation
  • Hoppy's compensation has been consistent with company performance over the past year.
  • Hoppy's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure of the First Bancshares management team in years:

9.4
Average Tenure
  • The average tenure for the First Bancshares management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Hoppy Cole

TITLE
Vice Chairman
COMPENSATION
$939K
AGE
56
TENURE
9.4 yrs

Dee Dee Lowery

TITLE
Executive VP & CFO
COMPENSATION
$384K
AGE
51

Chris Ryals

TITLE
Executive VP & COO
TENURE
8.1 yrs

Dawn Ard

TITLE
Compliance Officer & Compliance Officer of The First

Marsie White

TITLE
Vice President of Human Resource

Chandra Kidd

TITLE
VP & Corporate Secretary

Ray Wesson

TITLE
President of Southern Region - The First
COMPENSATION
$261K

Douglas Waldron

TITLE
President of Northern Region - The First
COMPENSATION
$261K

Carol Daniel

TITLE
Credit Administrator of The First
COMPENSATION
$180K

Hayden Mitchell

TITLE
Chief Retail Banking Officer & Executive VP of The First
COMPENSATION
$246K
TENURE
9.5 yrs
Board of Directors Tenure

Average tenure and age of the First Bancshares board of directors in years:

21.1
Average Tenure
58
Average Age
  • The average tenure for the First Bancshares board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

E. Gibson

TITLE
Chairman of the Board
COMPENSATION
$139K
AGE
61
TENURE
8.5 yrs

Hoppy Cole

TITLE
Vice Chairman
COMPENSATION
$939K
AGE
56

Doug Seidenburg

TITLE
Director
COMPENSATION
$65K
AGE
58
TENURE
21.1 yrs

Andy Stetelman

TITLE
Director
COMPENSATION
$60K
AGE
57
TENURE
24.1 yrs

David Bomboy

TITLE
Director
COMPENSATION
$58K
AGE
72
TENURE
24.1 yrs

Fred McMurry

TITLE
Director
COMPENSATION
$60K
AGE
53
TENURE
24.1 yrs

Ted Parker

TITLE
Director
COMPENSATION
$61K
AGE
58
TENURE
24.1 yrs

Charles Lightsey

TITLE
Director
COMPENSATION
$66K
AGE
78
TENURE
16.1 yrs

Rodney Bennett

TITLE
Director
COMPENSATION
$32K
AGE
51
TENURE
1.8 yrs

Thomas Mitchell

TITLE
Director
COMPENSATION
$35K
AGE
70
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • First Bancshares insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
30. Nov 18 Sell Milton Cole Individual 30. Nov 18 30. Nov 18 -5,436 $35.50 $-192,192
X
Management checks
We assess First Bancshares's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First Bancshares has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FBMS News

Simply Wall St News

How Much Did The First Bancshares, Inc.'s (NASDAQ:FBMS) CEO Pocket Last Year?

First, this article will compare CEO compensation with compensation at similar sized companies. … Third, we'll reflect on the total return to shareholders over three years, as a second measure of business performance. … How Does Hoppy Cole's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Need To Know: The First Bancshares, Inc. (NASDAQ:FBMS) Insiders Have Been Selling Shares

So shareholders might well want to know whether insiders have been buying or selling shares in The First Bancshares, Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … So we know that an insider sold shares at around the present share price of US$32.39.

Simply Wall St -

Should You Be Concerned About The First Bancshares Inc’s (NASDAQ:FBMS) Risks?

Its profit and value are directly impacted by its borrowers’ ability to pay which is driven by the level of economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting First Bancshares’s bottom line. … Today I will take you through some bad debt and liability measures to analyse the level of risky assets held by the bank.

Simply Wall St -

Is The First Bancshares Inc (NASDAQ:FBMS) Overpaying Its CEO?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Hoppy Cole's Compensation Compare With Similar Sized Companies. … This would give shareholders a good impression of the company, since most similar size companies have to pay more, leaving less for shareholders.

Simply Wall St -

Financial Metrics For The First Bancshares Inc (NASDAQ:FBMS)

As a small-cap finance stock with a market capitalisation of US$537.0m, the risk and profitability of The First Bancshares Inc (NASDAQ:FBMS) are largely tied to the underlying economic growth of the region it operates in US. … Unpredictable macro events such as political instability could weaken its financial position which is why it is important to understand how well the bank manages its risk levels. … Today we will be measuring First Bancshares’s financial risk position by looking at three leverage and liquidity metrics.

Simply Wall St -

Should Your Next Investment In Financial Be In The First Bancshares Inc (NASDAQ:FBMS)?

is a bank operating in an industry, … Many aspects of banking and capital markets are being attacked by new competitors, whose key advantage is a leaner and technology-enabled operating model, allowing them to scale at a faster rate and meet changing consumer needs … Financial services analysts are forecasting for the entire industry,

Simply Wall St -

Why The First Bancshares Inc (NASDAQ:FBMS) May Not Be As Efficient As Its Industry

I am writing today to help inform people who are new to the stock market. … and want to begin learning the link between company’s fundamentals and stock market performance. … Today I will look at how components such as financial leverage can influence ROE which may impact the sustainability of FBMS's returns

Simply Wall St -

Why The First Bancshares Inc (NASDAQ:FBMS) May Not Be As Risky Than You Think

Economic growth impacts the stability of salaries and interest rate level which in turn affects borrowers’ demand for, and ability to repay, their loans. … Risk associate with repayment is measured by the level of bad debt which is an expense written off First Bancshares’s bottom line. … Today I will take you through some bad debt and liability measures to analyse the level of risky assets held by the bank.

Simply Wall St -

Why The First Bancshares Inc (NASDAQ:FBMS) Is An Attractive Stock On Right Now

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on The First Bancshares Inc (NASDAQ:FBMS) due to its excellent fundamentals in more than one area. … a excellent

Simply Wall St -

Three Understated Metrics For The First Bancshares Inc (NASDAQ:FBMS) You Should Know

Sufficient liquidity and low levels of leverage could place the bank in a safe place in case of unexpected macro headwinds. … Today we will be measuring First Bancshares’s financial risk position by looking at three leverage and liquidity metrics. … Compared to the appropriate industry loan to deposit level of 90%, First Bancshares’s ratio of over 75.71% is sensibly lower and within the safe margin, which places the bank in a relatively safe liquidity position given it has not excessively lent out its deposits and has maintained a suitable level for compliance.Next Steps: First Bancshares meets all of our liquidity and leverage criteria, exhibiting operational prudency.

Simply Wall St -

FBMS Company Info

Map
Description

The First Bancshares, Inc. operates as the 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 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, voice response telephone inquiry services, commercial sweep accounts, cash management services, safe deposit boxes, travelers checks, mobile deposit, direct deposit of payroll and social security checks, automatic drafts for various accounts, automated teller machines, 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, 2017, the company operated through a network of 3 full-service branches, 1 motor branch, and 4 loan production offices in the states of Mississippi, Alabama, Louisiana, and Florida. The First Bancshares, Inc. was incorporated in 1995 and is headquartered in Hattiesburg, Mississippi.

Details
Name: The First Bancshares, Inc.
FBMS
Exchange: NasdaqGM
Founded: 1995
$486,740,226
14,830,598
Website: http://www.thefirstbank.com
Address: The First Bancshares, Inc.
6480 U.S. Highway 98 West,
Suite A,
Hattiesburg,
Mississippi, 39402,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM FBMS Common Stock Nasdaq Global Market US USD 02. Jan 2003
Number of employees
Current staff
Staff numbers
419
First Bancshares employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/21 23:51
End of day share price update: 2019/02/21 00:00
Last estimates confirmation: 2019/02/05
Last earnings filing: 2019/01/29
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.