Allegiance Bancshares, Inc. (ABTX) Rating Reiterated by Keefe, Bruyette & Woods

Allegiance Bancshares, Inc. (NASDAQ:ABTX)‘s stock had its “hold” rating reaffirmed by investment analysts at Keefe, Bruyette & Woods in a research note issued to investors on Thursday. They currently have a $44.00 price objective on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 12.82% from the company’s previous close.

Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of Allegiance Bancshares from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Zacks Investment Research lowered shares of Allegiance Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Stephens reissued a “buy” rating and set a $42.00 price objective on shares of Allegiance Bancshares in a report on Thursday, June 29th. Finally, TheStreet raised shares of Allegiance Bancshares from a “c-” rating to a “b-” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $41.67.

Shares of Allegiance Bancshares (ABTX) traded down 0.13% during mid-day trading on Thursday, hitting $39.00. The stock had a trading volume of 65,416 shares. The company’s 50 day moving average is $36.63 and its 200-day moving average is $37.56. The stock has a market cap of $513.28 million, a P/E ratio of 22.81 and a beta of 2.41. Allegiance Bancshares has a 52-week low of $25.16 and a 52-week high of $40.45.

Allegiance Bancshares (NASDAQ:ABTX) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.27). The business had revenue of $28.46 million for the quarter, compared to analysts’ expectations of $28.81 million. Allegiance Bancshares had a net margin of 19.75% and a return on equity of 7.90%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 earnings per share. On average, equities research analysts anticipate that Allegiance Bancshares will post $1.68 earnings per share for the current fiscal year.

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In other news, Director Frances H. Jeter bought 4,000 shares of the stock in a transaction on Friday, August 11th. The stock was bought at an average cost of $35.93 per share, for a total transaction of $143,720.00. Following the completion of the purchase, the director now directly owns 7,874 shares in the company, valued at $282,912.82. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas A. Reiser bought 11,000 shares of the stock in a transaction on Thursday, August 10th. The stock was purchased at an average price of $36.53 per share, with a total value of $401,830.00. Following the completion of the purchase, the director now owns 189,190 shares of the company’s stock, valued at $6,911,110.70. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 33,900 shares of company stock valued at $1,208,983. 13.88% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE boosted its stake in Allegiance Bancshares by 4.7% in the first quarter. Bank of America Corp DE now owns 5,351 shares of the bank’s stock valued at $199,000 after acquiring an additional 241 shares in the last quarter. California Public Employees Retirement System acquired a new stake in Allegiance Bancshares in the first quarter valued at approximately $234,000. Parametric Portfolio Associates LLC acquired a new stake in Allegiance Bancshares in the second quarter valued at approximately $239,000. GSA Capital Partners LLP acquired a new stake in Allegiance Bancshares in the second quarter valued at approximately $244,000. Finally, American International Group Inc. lifted its stake in shares of Allegiance Bancshares by 7.1% during the first quarter. American International Group Inc. now owns 6,763 shares of the bank’s stock worth $252,000 after buying an additional 448 shares during the period. Institutional investors own 39.65% of the company’s stock.

About Allegiance Bancshares

Allegiance Bancshares, Inc is a bank holding company. Through its subsidiary, Allegiance Bank (the Bank), the Company provides a range of commercial banking services primarily to Houston metropolitan area-based small to medium-sized businesses, professionals and individual customers. In addition to banking during normal business hours, the Company offers extended drive-in hours, automated teller machines (ATMs) and banking by telephone, mail and Internet.

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