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The First Bancshares (FBMS)
NYSE:FBMS
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.64Last Year’s EPS
$0.59Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: 2.93%
|Next Earnings Date:Jan 22, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a generally positive outlook with strong loan growth, margin expansion, and stable credit quality. However, it also highlights challenges such as a decrease in net income due to increased provisions and a decline in deposit levels. Despite these challenges, the overall performance and strategic growth initiatives suggest a strong position moving forward.Company Guidance
During the second quarter of 2024, FBMS reported a solid set of metrics reflecting their robust financial performance. The company experienced an 8.6% annualized growth in loans, with a net increase of $111 million, driven by strong originations totaling approximately $450 million. The core margin improved by 9 basis points to 3.19%, while the cost of deposits held steady at 1.78%. Credit quality remained strong, with net charge-offs at 4 basis points and non-performing assets showing a slight migration of 3 basis points. The provision expense was $1.7 million, contributing to a pretax pre-provision income increase of 2.9% to $27.4 million, despite net income dipping due to the provision. The bank's liquidity remained robust, with a loan deposit ratio of 79% and $2 billion available for borrowing. Key operating ratios included an ROAA of 1.01% and a return on average tangible common equity of 12.76%, with a total risk-based capital ratio stable at 15.3%. The bank anticipates stable margins for the remainder of the year, with a continued focus on managing deposit costs and leveraging strong loan demand.Strong Loan Growth
Loans grew by $111 million, up about 8.6% on an annualized basis, with robust originations of about $450 million.
Margin Expansion
Core margin increased by 9 basis points to 3.19%, and overall margin expanded by 6 basis points.
Stable Credit Quality
Net charge-offs were only 4 basis points, and nonperforming assets increased slightly by 3 basis points, maintaining strong credit quality.
Solid Capital Ratios
Capital ratios remained strong with a TCE of 8.3%, leverage ratio of 10%, and total risk base of 15.3%.
Positive Regional Loan Performance
The Mississippi region accounted for 35% of new loan originations and Georgia had its strongest showing since the merger.
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FBMS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FBMS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $33.56 | $32.99 | -1.70% |
| Jul 24, 2024 | $29.16 | $29.82 | +2.26% |
| Apr 24, 2024 | $24.66 | $24.42 | -0.97% |
| Jan 24, 2024 | $27.16 | $25.61 | -5.71% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does The First Bancshares (FBMS) report earnings?
The First Bancshares (FBMS) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is The First Bancshares (FBMS) earnings time?
The First Bancshares (FBMS) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FBMS EPS forecast?
FBMS EPS forecast for the fiscal quarter 2024 (Q4) is $0.64.
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