BidaskClub upgraded shares of Allegiance Bancshares, Inc. (NASDAQ:ABTX) from a hold rating to a buy rating in a research note released on Friday, July 7th.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Allegiance Bancshares from a hold rating to a sell rating in a report on Thursday, April 27th. Stephens restated a buy rating on shares of Allegiance Bancshares in a report on Tuesday, April 25th. Finally, Keefe, Bruyette & Woods set a $38.00 price objective on Allegiance Bancshares and gave the stock a hold rating in a report on Tuesday, April 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $40.75.
Shares of Allegiance Bancshares (NASDAQ:ABTX) traded down 1.02% on Friday, reaching $39.00. 17,380 shares of the company’s stock traded hands. Allegiance Bancshares has a 12-month low of $23.10 and a 12-month high of $40.45. The company has a market cap of $510.86 million, a PE ratio of 22.79 and a beta of 2.39. The stock has a 50-day moving average price of $38.85 and a 200-day moving average price of $37.03.
Allegiance Bancshares (NASDAQ:ABTX) last released its quarterly earnings data on Tuesday, April 25th. The bank reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The company had revenue of $25.47 million for the quarter, compared to the consensus estimate of $25.25 million. Allegiance Bancshares had a return on equity of 8.01% and a net margin of 20.47%. During the same period last year, the business posted $0.49 EPS. Equities research analysts anticipate that Allegiance Bancshares will post $1.96 EPS for the current fiscal year.
In other news, insider Ramon A. Vitulli III sold 1,431 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $38.10, for a total transaction of $54,521.10. Following the sale, the insider now directly owns 6,877 shares of the company’s stock, valued at $262,013.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daryl D. Bohls sold 1,500 shares of the business’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $39.17, for a total value of $58,755.00. Following the sale, the insider now directly owns 7,927 shares in the company, valued at $310,500.59. The disclosure for this sale can be found here. Insiders have sold a total of 7,000 shares of company stock valued at $272,864 in the last 90 days. Insiders own 13.88% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in Allegiance Bancshares by 3.6% in the fourth quarter. State Street Corp now owns 159,786 shares of the bank’s stock valued at $5,776,000 after buying an additional 5,484 shares during the period. Renaissance Technologies LLC acquired a new position in Allegiance Bancshares during the fourth quarter valued at $233,000. Two Sigma Investments LP acquired a new position in Allegiance Bancshares during the fourth quarter valued at $665,000. Teachers Advisors LLC boosted its position in Allegiance Bancshares by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 18,171 shares of the bank’s stock valued at $657,000 after buying an additional 759 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in Allegiance Bancshares during the fourth quarter valued at $203,000. Hedge funds and other institutional investors own 35.27% of the company’s stock.
Allegiance Bancshares Company Profile
Allegiance Bancshares, Inc is a bank holding company. Through its subsidiary, Allegiance Bank (the Bank), the Company provides a range of commercial banking services primarily to Houston metropolitan area-based small to medium-sized businesses, professionals and individual customers. In addition to banking during normal business hours, the Company offers extended drive-in hours, automated teller machines (ATMs) and banking by telephone, mail and Internet.
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