Rhumbline Advisers trimmed its position in shares of Allegiance Bancshares Inc (NASDAQ:ABTX) by 16.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,995 shares of the bank’s stock after selling 1,980 shares during the period. Rhumbline Advisers’ holdings in Allegiance Bancshares were worth $376,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of ABTX. Callahan Advisors LLC raised its stake in shares of Allegiance Bancshares by 88.2% during the fourth 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 last quarter. Dimensional Fund Advisors LP raised its stake in shares of Allegiance Bancshares by 40.0% during the third 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 last quarter. Wells Fargo & Company MN raised its stake in shares of Allegiance Bancshares by 64.0% during the third quarter. Wells Fargo & Company MN now owns 11,753 shares of the bank’s stock valued at $432,000 after acquiring an additional 4,586 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Allegiance Bancshares by 13.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 25,013 shares of the bank’s stock valued at $942,000 after acquiring an additional 2,913 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. increased its position in shares of Allegiance Bancshares by 22.5% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 10,612 shares of the bank’s stock valued at $400,000 after buying an additional 1,949 shares during the period. 42.60% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on ABTX. BidaskClub upgraded shares of Allegiance Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research cut shares of Allegiance Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, March 13th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Allegiance Bancshares presently has a consensus rating of “Buy” and a consensus price target of $43.33.
Shares of NASDAQ ABTX opened at $40.20 on Friday. Allegiance Bancshares Inc has a 1 year low of $31.75 and a 1 year high of $42.60. The stock has a market cap of $534.06, a P/E ratio of 25.44 and a beta of 1.92.
Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.02). Allegiance Bancshares had a net margin of 14.07% and a return on equity of 7.13%. The company had revenue of $33.62 million for the quarter, compared to analysts’ expectations of $30.36 million. During the same quarter in the prior year, the firm earned $0.44 EPS. Allegiance Bancshares’s quarterly revenue was up 3.9% compared to the same quarter last year. research analysts forecast that Allegiance Bancshares Inc will post 2.56 EPS for the current fiscal year.
In related news, Director Paul Michael Mann sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $40.66, for a total transaction of $203,300.00. Following the transaction, the director now owns 42,752 shares in the company, valued at $1,738,296.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daryl D. Bohls sold 1,500 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $38.10, for a total transaction of $57,150.00. Following the transaction, the insider now owns 7,723 shares in the company, valued at approximately $294,246.30. The disclosure for this sale can be found here. Insiders have sold 57,177 shares of company stock worth $2,250,008 in the last quarter. 12.74% of the stock is owned by corporate insiders.
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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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