Allegiance Bancshares (NASDAQ:ABTX) Stock Rating Reaffirmed by Stephens

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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.

Allegiance Bancshares (NASDAQ:ABTX) last issued its quarterly earnings data on Thursday, October 25th. The bank reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. Allegiance Bancshares had a return on equity of 10.35% and a net margin of 19.41%. The company had revenue of $29.96 million during the quarter, compared to the consensus estimate of $30.55 million. On average, research analysts anticipate that Allegiance Bancshares will post 2.56 EPS for the current year.

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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