FMR LLC grew its holdings in shares of Allegiance Bancshares, Inc. (NASDAQ:ABTX) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,129,320 shares of the bank’s stock after buying an additional 20,280 shares during the period. FMR LLC owned 8.59% of Allegiance Bancshares worth $43,253,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in shares of Allegiance Bancshares by 1.8% in the second quarter. Wells Fargo & Company MN now owns 7,167 shares of the bank’s stock worth $275,000 after purchasing an additional 129 shares during the last quarter. Context BH Capital Management LP raised its stake in shares of Allegiance Bancshares by 1.0% in the second quarter. Context BH Capital Management LP now owns 14,204 shares of the bank’s stock worth $544,000 after purchasing an additional 140 shares during the last quarter. Bank of America Corp DE increased its position in Allegiance Bancshares by 4.7% during 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 during the last quarter. Campbell Newman Asset Management Inc. increased its position in Allegiance Bancshares by 4.8% during the second quarter. Campbell Newman Asset Management Inc. now owns 7,552 shares of the bank’s stock valued at $289,000 after acquiring an additional 349 shares during the last quarter. Finally, American International Group Inc. increased its position in Allegiance Bancshares by 7.1% during the first quarter. American International Group Inc. now owns 6,763 shares of the bank’s stock valued at $252,000 after acquiring an additional 448 shares during the last quarter. Institutional investors own 39.65% of the company’s stock.
A number of analysts recently commented on the company. BidaskClub cut Allegiance Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. TheStreet raised Allegiance Bancshares from a “c-” rating to a “b-” rating in a research note on Tuesday. Keefe, Bruyette & Woods reissued a “hold” rating and set a $44.00 price target on shares of Allegiance Bancshares in a research note on Thursday. Stephens reissued a “buy” rating and set a $42.00 price target on shares of Allegiance Bancshares in a research note on Thursday, June 29th. Finally, Zacks Investment Research lowered Allegiance Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. One investment 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 stock presently has a consensus rating of “Hold” and an average target price of $41.67.
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In related news, insider Daryl D. Bohls sold 1,500 shares of Allegiance Bancshares stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $36.68, for a total transaction of $55,020.00. Following the transaction, the insider now owns 7,927 shares in the company, valued at approximately $290,762.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas A. Reiser bought 11,000 shares of Allegiance Bancshares stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $36.53 per share, for a total transaction of $401,830.00. Following the acquisition, the director now directly owns 189,190 shares in the company, valued at approximately $6,911,110.70. The disclosure for this purchase can be found here. In the last quarter, insiders sold 33,900 shares of company stock worth $1,208,983. 13.88% of the stock is owned by company insiders.
Shares of Allegiance Bancshares, Inc. (NASDAQ:ABTX) opened at 39.00 on Friday. The firm’s 50-day moving average price is $36.63 and its 200 day moving average price is $37.56. Allegiance Bancshares, Inc. has a 12 month low of $25.16 and a 12 month high of $40.45. The company has a market cap of $513.28 million, a PE ratio of 22.81 and a beta of 2.41.
Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings results on Tuesday, October 24th. The bank reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.27). The company had revenue of $28.46 million during the quarter, compared to analyst estimates of $28.81 million. Allegiance Bancshares had a net margin of 16.88% and a return on equity of 6.99%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 EPS. Equities research analysts anticipate that Allegiance Bancshares, Inc. will post $1.68 earnings per share for the current fiscal year.
Allegiance Bancshares Profile
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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