Shares of Allegiance Bancshares, Inc. (NASDAQ:ABTX) have earned a consensus rating of “Hold” from the six research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $41.67.
A number of equities analysts recently commented on ABTX shares. Zacks Investment Research cut shares of Allegiance Bancshares from a “hold” rating to a “strong sell” rating in a research note on Friday, October 27th. Keefe, Bruyette & Woods set a $42.00 price target on shares of Allegiance Bancshares and gave the stock a “hold” rating in a research note on Monday, August 28th. TheStreet raised shares of Allegiance Bancshares from a “c-” rating to a “b-” rating in a research note on Tuesday, October 24th. Finally, BidaskClub lowered shares of Allegiance Bancshares from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th.
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Allegiance Bancshares (NASDAQ:ABTX) opened at $39.10 on Monday. Allegiance Bancshares has a 52 week low of $30.20 and a 52 week high of $40.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The company has a market cap of $515.40, a price-to-earnings ratio of 25.89 and a beta of 2.42.
Allegiance Bancshares (NASDAQ:ABTX) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.27). Allegiance Bancshares had a return on equity of 6.91% and a net margin of 16.88%. The firm had revenue of $28.46 million for the quarter, compared to analysts’ expectations of $28.81 million. During the same period in the prior year, the firm posted $0.42 earnings per share. Allegiance Bancshares’s revenue for the quarter was up 14.3% on a year-over-year basis. sell-side analysts anticipate that Allegiance Bancshares will post 1.59 earnings per share for the current fiscal year.
In other news, insider Daryl D. Bohls sold 1,500 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $32.24, for a total value of $48,360.00. Following the completion of the sale, the insider now owns 7,927 shares in the company, valued at approximately $255,566.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Umesh Jain sold 3,900 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $35.51, for a total transaction of $138,489.00. Following the transaction, the director now owns 143,675 shares of the company’s stock, valued at approximately $5,101,899.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,864 shares of company stock valued at $3,000,460. Company insiders own 13.88% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in shares of Allegiance Bancshares by 4.7% during the 1st quarter. Bank of America Corp DE now owns 5,351 shares of the bank’s stock worth $199,000 after acquiring an additional 241 shares in the last quarter. Parametric Portfolio Associates LLC bought a new position in shares of Allegiance Bancshares during the 2nd quarter worth approximately $239,000. California Public Employees Retirement System bought a new position in shares of Allegiance Bancshares during the 1st quarter worth approximately $234,000. GSA Capital Partners LLP bought a new position in shares of Allegiance Bancshares during the 2nd quarter worth approximately $244,000. Finally, American International Group Inc. raised its stake in shares of Allegiance Bancshares by 7.1% during the 1st quarter. American International Group Inc. now owns 6,763 shares of the bank’s stock worth $252,000 after acquiring an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 40.21% of the company’s stock.
Allegiance Bancshares Company 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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