Allegiance Bancshares Inc (NASDAQ:ABTX) Short Interest Down 5.3% in November

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Allegiance Bancshares Inc (NASDAQ:ABTX) saw a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,440,000 shares, a decrease of 5.3% from the October 31st total of 1,520,000 shares. Based on an average daily volume of 243,100 shares, the short-interest ratio is currently 5.9 days. Approximately 7.6% of the company’s stock are sold short.

NASDAQ ABTX opened at $35.59 on Tuesday. Allegiance Bancshares has a 52-week low of $28.58 and a 52-week high of $38.95. The company has a 50-day simple moving average of $34.87 and a 200 day simple moving average of $33.59. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $746.66 million, a PE ratio of 14.12 and a beta of 1.41.

Allegiance Bancshares (NASDAQ:ABTX) last issued its earnings results on Friday, October 25th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.12). The business had revenue of $47.73 million for the quarter, compared to the consensus estimate of $49.00 million. Allegiance Bancshares had a return on equity of 7.65% and a net margin of 21.42%. As a group, analysts forecast that Allegiance Bancshares will post 2.5 EPS for the current fiscal year.

In related news, Director Roland L. Williams sold 8,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $32.90, for a total transaction of $263,200.00. Following the completion of the sale, the director now owns 186,468 shares in the company, valued at $6,134,797.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Louis A. Jr. Waters sold 3,600 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $34.15, for a total transaction of $122,940.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,368 shares of company stock valued at $1,325,184. 10.17% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of ABTX. Aperio Group LLC bought a new position in Allegiance Bancshares during the second quarter worth about $55,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Allegiance Bancshares by 101.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,640 shares of the bank’s stock worth $55,000 after purchasing an additional 826 shares during the period. Russell Investments Group Ltd. bought a new position in Allegiance Bancshares during the third quarter worth about $122,000. Metropolitan Life Insurance Co NY boosted its position in Allegiance Bancshares by 53.9% during the third quarter. Metropolitan Life Insurance Co NY now owns 6,580 shares of the bank’s stock worth $211,000 after purchasing an additional 2,305 shares during the period. Finally, Academy Capital Management Inc. TX bought a new position in Allegiance Bancshares during the third quarter worth about $217,000. Hedge funds and other institutional investors own 36.07% of the company’s stock.

ABTX has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Allegiance Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. Raymond James downgraded shares of Allegiance Bancshares from an “outperform” rating to a “market perform” rating in a report on Monday, October 28th. ValuEngine upgraded shares of Allegiance Bancshares from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, BidaskClub upgraded shares of Allegiance Bancshares from a “sell” rating to a “hold” rating in a report on Monday, November 25th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.82.

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, and savings accounts, as well as other time deposits comprising money market accounts and certificates of deposit.

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