Allegiance Bancshares (NASDAQ:ABTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, December 26th.
According to Zacks, “Allegiance Bancshares, Inc. operates as a bank holding company. The Company offers banking products and services primarily to small and medium-sized businesses and individual customers, through its subsidiaries. It offers checking accounts, savings accounts, certificates of deposit, bank-by-mail, cashier’s checks, travelers checks, gift cards, savings bonds, personal loans, automobile loans, commercial loans, mortgage loans, home improvement loans, online banking services, safe deposit boxes and automated teller machines. Allegiance Bancshares, Inc. is headquartered in Houston, Texas. “
ABTX has been the topic of a number of other research reports. TheStreet upgraded Allegiance Bancshares from a “c-” rating to a “b-” rating in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods set a $42.00 target price on Allegiance Bancshares and gave the stock a “hold” rating in a research note on Monday, August 28th. Finally, BidaskClub raised Allegiance Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $43.00.
Shares of Allegiance Bancshares (ABTX) opened at $39.30 on Tuesday. Allegiance Bancshares has a twelve month low of $31.20 and a twelve month high of $40.53. The firm has a market capitalization of $518.03 and a price-to-earnings ratio of 26.03. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69.
Allegiance Bancshares (NASDAQ:ABTX) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.27). Allegiance Bancshares had a net margin of 10.49% and a return on equity of 3.98%. The company had revenue of $28.46 million for the quarter, compared to analysts’ expectations of $28.81 million. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s quarterly revenue was up 14.3% on a year-over-year basis. equities analysts forecast that Allegiance Bancshares will post 1.59 earnings per share for the current fiscal year.
In other news, Director Umesh Jain sold 22,500 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $39.00, for a total value of $877,500.00. Following the completion of the transaction, the director now directly owns 4,374 shares in the company, valued at $170,586. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daryl D. Bohls sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $37.17, for a total value of $55,755.00. Following the completion of the transaction, the insider now owns 7,927 shares of the company’s stock, valued at $294,646.59. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,859 shares of company stock worth $2,730,508. 13.88% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in ABTX. Stieven Capital Advisors L.P. purchased a new position in Allegiance Bancshares during the third quarter valued at approximately $6,072,000. Vanguard Group Inc. raised its position in Allegiance Bancshares by 11.3% during the second quarter. Vanguard Group Inc. now owns 483,169 shares of the bank’s stock valued at $18,506,000 after acquiring an additional 48,873 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Allegiance Bancshares by 600.6% during the first quarter. Dimensional Fund Advisors LP now owns 42,244 shares of the bank’s stock valued at $1,571,000 after acquiring an additional 36,214 shares in the last quarter. State Street Corp raised its position in Allegiance Bancshares by 15.2% during the second quarter. State Street Corp now owns 188,429 shares of the bank’s stock valued at $7,218,000 after acquiring an additional 24,826 shares in the last quarter. Finally, Stephens Investment Management Group LLC raised its position in Allegiance Bancshares by 17.8% during the third quarter. Stephens Investment Management Group LLC now owns 160,981 shares of the bank’s stock valued at $5,924,000 after acquiring an additional 24,368 shares in the last quarter. Institutional investors own 41.32% of the company’s stock.
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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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