Allegiance Bancshares Inc (NASDAQ:ABTX) reached a new 52-week high on Friday . The stock traded as high as $41.60 and last traded at $42.20, with a volume of 78306 shares traded. The stock had previously closed at $40.90.
Several equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Allegiance Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub upgraded shares of Allegiance Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.33.
The company has a market cap of $537.36, a price-to-earnings ratio of 31.83 and a beta of 2.08.
Allegiance Bancshares (NASDAQ:ABTX) last posted its earnings results on Thursday, January 25th. The bank reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.02). The firm had revenue of $33.62 million during the quarter, compared to analyst estimates of $30.36 million. Allegiance Bancshares had a return on equity of 7.13% and a net margin of 14.07%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. research analysts predict that Allegiance Bancshares Inc will post 2.56 earnings per share for the current year.
In related news, Director Paul Michael Mann sold 11,250 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $40.10, for a total transaction of $451,125.00. Following the sale, the director now directly owns 42,752 shares in the company, valued at $1,714,355.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas A. Reiser sold 25,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $38.38, for a total transaction of $959,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,177 shares of company stock worth $2,250,008. Company insiders own 13.88% of the company’s stock.
Several large investors have recently modified their holdings of ABTX. Stieven Capital Advisors L.P. acquired a new stake in shares of Allegiance Bancshares during the third quarter worth $6,072,000. Vanguard Group Inc. grew its position in shares of Allegiance Bancshares by 11.3% in the 2nd 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 during the period. Callahan Advisors LLC grew its position in shares of Allegiance Bancshares by 88.2% in the 4th quarter. Callahan Advisors LLC now owns 95,265 shares of the bank’s stock valued at $3,587,000 after acquiring an additional 44,647 shares during the period. STA Wealth Management LLC bought a new position in shares of Allegiance Bancshares in the 4th quarter valued at about $1,007,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Allegiance Bancshares by 40.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 92,580 shares of the bank’s stock valued at $3,407,000 after acquiring an additional 26,432 shares during the period. Institutional investors and hedge funds own 42.79% 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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