Allegiance Bancshares (NASDAQ:ABTX)‘s stock had its “buy” rating reiterated by equities researchers at Stephens in a research report issued to clients and investors on Thursday, October 25th. They currently have a $51.00 target price on the bank’s stock. Stephens’ price target would indicate a potential upside of 30.77% from the company’s previous close.
Several other brokerages have also issued reports on ABTX. BidaskClub upgraded shares of Allegiance Bancshares from a “hold” rating to a “buy” rating in a report on Saturday, July 21st. Raymond James initiated coverage on shares of Allegiance Bancshares in a report on Tuesday, October 2nd. They issued a “strong-buy” rating and a $48.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, September 26th.
Shares of ABTX stock traded down $0.02 on Thursday, hitting $39.00. 52,168 shares of the stock traded hands, compared to its average volume of 52,847. The company has a current ratio of 1.05, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64. The stock has a market cap of $518.66 million, a price-to-earnings ratio of 24.68 and a beta of 1.66. Allegiance Bancshares has a twelve month low of $36.50 and a twelve month high of $46.85.
In other Allegiance Bancshares news, Director Paul Michael Mann sold 5,889 shares of the business’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $45.09, for a total transaction of $265,535.01. Following the sale, the director now directly owns 35,020 shares in the company, valued at $1,579,051.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.74% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of ABTX. Bank of Montreal Can purchased a new stake in Allegiance Bancshares during the second quarter worth about $194,000. UBS Group AG increased its stake in shares of Allegiance Bancshares by 208.5% during the first quarter. UBS Group AG now owns 5,272 shares of the bank’s stock worth $206,000 after buying an additional 3,563 shares during the period. Sheets Smith Wealth Management purchased a new stake in shares of Allegiance Bancshares during the third quarter worth approximately $245,000. Rhumbline Advisers increased its stake in shares of Allegiance Bancshares by 15.1% during the second quarter. Rhumbline Advisers now owns 11,541 shares of the bank’s stock worth $500,000 after buying an additional 1,516 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Allegiance Bancshares during the second quarter worth approximately $510,000. Institutional investors own 45.96% of the company’s stock.
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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