BidaskClub Upgrades Allegiance Bancshares (ABTX) to Buy

Allegiance Bancshares (NASDAQ:ABTX) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Separately, Zacks Investment Research raised Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Friday, January 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $43.33.

Allegiance Bancshares opened at $42.15 on Wednesday, according to Marketbeat.com. The stock has a market cap of $563.01 million, a PE ratio of 24.85 and a beta of 1.91. The company has a current ratio of 1.06, a quick ratio of 0.96 and a debt-to-equity ratio of 0.75. Allegiance Bancshares has a one year low of $42.05 and a one year high of $42.40.

Allegiance Bancshares (NASDAQ:ABTX) last released its quarterly earnings results on Thursday, April 26th. The bank reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. The company had revenue of $28.54 million for the quarter, compared to analyst estimates of $29.65 million. Allegiance Bancshares had a return on equity of 7.54% and a net margin of 14.79%. research analysts anticipate that Allegiance Bancshares will post 2.51 earnings per share for the current fiscal year.

In related news, Director Thomas A. Reiser sold 25,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $38.38, for a total transaction of $959,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Villarreal Luis Rene Garza acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were purchased at an average price of $38.53 per share, with a total value of $77,060.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 39,250 shares of company stock valued at $1,531,720. 12.74% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of ABTX. MetLife Investment Advisors LLC bought a new position in shares of Allegiance Bancshares during the fourth quarter worth about $219,000. GSA Capital Partners LLP grew its holdings in shares of Allegiance Bancshares by 25.3% during the third quarter. GSA Capital Partners LLP now owns 7,998 shares of the bank’s stock worth $294,000 after buying an additional 1,616 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Allegiance Bancshares during the fourth quarter worth about $319,000. Campbell Newman Asset Management Inc. grew its holdings 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 worth $400,000 after buying an additional 1,949 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings 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 worth $432,000 after buying an additional 4,586 shares in the last quarter. Institutional investors and hedge funds own 42.66% of the company’s stock.

Allegiance Bancshares Company Profile

Allegiance Bancshares, Inc operates as the bank holding company for Allegiance Bank that provides a range of commercial banking services primarily to small and medium-sized businesses, professionals, and individual customers. It accepts deposit products, including checking accounts, commercial accounts, savings accounts, and other time deposits comprising money market accounts and certificates of deposit.

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