Allegiance Bancshares (NASDAQ:ABTX)‘s stock had its “buy” rating reiterated by equities researchers at Stephens in a research report issued on Thursday, October 25th. They presently have a $51.00 target price on the bank’s stock. Stephens’ price objective points to a potential upside of 33.26% from the stock’s current price.
A number of other equities research analysts have also recently commented on the company. BidaskClub raised Allegiance Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, June 28th. Zacks Investment Research raised Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Wednesday, September 26th. Finally, Raymond James assumed coverage on Allegiance Bancshares in a research report on Tuesday, October 2nd. They set a “strong-buy” rating and a $48.00 target price on the stock.
Allegiance Bancshares stock opened at $38.27 on Thursday. Allegiance Bancshares has a 12 month low of $33.05 and a 12 month high of $46.85. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $835.32 million, a price-to-earnings ratio of 24.22 and a beta of 1.66.
In other Allegiance Bancshares news, Director Paul Michael Mann sold 5,889 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $45.09, for a total value 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 filing with the SEC, which is accessible through this link. 12.74% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in ABTX. Wells Fargo & Company MN raised its stake in shares of Allegiance Bancshares by 10.7% during the 1st quarter. Wells Fargo & Company MN now owns 17,677 shares of the bank’s stock valued at $692,000 after purchasing an additional 1,711 shares during the period. Northern Trust Corp grew its position in Allegiance Bancshares by 2.2% during the first quarter. Northern Trust Corp now owns 137,116 shares of the bank’s stock worth $5,368,000 after buying an additional 2,925 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Allegiance Bancshares by 37.9% during the first quarter. Dimensional Fund Advisors LP now owns 172,121 shares of the bank’s stock worth $6,739,000 after buying an additional 47,276 shares in the last quarter. UBS Group AG grew its position in 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 in the last quarter. Finally, Millennium Management LLC purchased a new position in Allegiance Bancshares during the first quarter worth about $848,000. Institutional investors own 46.29% 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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