Carlton Hofferkamp & Jenks Wealth Management LLC decreased its position in Allegiance Bancshares Inc (NASDAQ:ABTX) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 172,167 shares of the bank’s stock after selling 2,000 shares during the period. Allegiance Bancshares makes up approximately 4.8% of Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings, making the stock its 6th biggest position. Carlton Hofferkamp & Jenks Wealth Management LLC owned 1.29% of Allegiance Bancshares worth $7,437,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABTX. UBS Group AG boosted its holdings in shares of Allegiance Bancshares by 208.5% in the first quarter. UBS Group AG now owns 5,272 shares of the bank’s stock valued at $206,000 after acquiring an additional 3,563 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Allegiance Bancshares in the fourth quarter valued at approximately $219,000. Two Sigma Investments LP bought a new position in shares of Allegiance Bancshares in the fourth quarter valued at approximately $319,000. Wells Fargo & Company MN boosted its holdings in shares of Allegiance Bancshares by 35.8% in the fourth quarter. Wells Fargo & Company MN now owns 15,966 shares of the bank’s stock valued at $601,000 after acquiring an additional 4,213 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Allegiance Bancshares in the first quarter valued at approximately $848,000. Hedge funds and other institutional investors own 44.79% of the company’s stock.
ABTX has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Allegiance Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. BidaskClub upgraded shares of Allegiance Bancshares from a “hold” rating to a “buy” rating in a report on Saturday, April 7th.
In related news, insider Daryl D. Bohls sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 9th. The shares were sold at an average price of $40.69, for a total transaction of $61,035.00. Following the completion of the sale, the insider now directly owns 7,927 shares in the company, valued at $322,549.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.74% of the company’s stock.
NASDAQ:ABTX traded up $0.65 during trading hours on Friday, reaching $44.50. 1,098 shares of the company’s stock were exchanged, compared to its average volume of 47,320. The stock has a market capitalization of $580.34 million, a price-to-earnings ratio of 27.75 and a beta of 1.94. Allegiance Bancshares Inc has a 12 month low of $31.75 and a 12 month high of $46.85. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.06.
Allegiance Bancshares (NASDAQ:ABTX) last issued its earnings results on Thursday, April 26th. The bank reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. The firm had revenue of $28.54 million during the quarter, compared to analysts’ expectations of $29.65 million. Allegiance Bancshares had a net margin of 14.79% and a return on equity of 7.54%. sell-side analysts expect that Allegiance Bancshares Inc will post 2.47 EPS for the current fiscal year.
About Allegiance Bancshares
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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