Stephens Investment Management Group LLC Has $5.92 Million Stake in Allegiance Bancshares Inc (NASDAQ:ABTX)

Stephens Investment Management Group LLC increased its holdings in shares of Allegiance Bancshares Inc (NASDAQ:ABTX) by 17.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 160,981 shares of the bank’s stock after acquiring an additional 24,368 shares during the period. Stephens Investment Management Group LLC owned approximately 1.22% of Allegiance Bancshares worth $5,924,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bank of America Corp DE grew its position in shares of Allegiance Bancshares by 4.7% during the 1st quarter. Bank of America Corp DE now owns 5,351 shares of the bank’s stock valued at $199,000 after acquiring an additional 241 shares during the period. California Public Employees Retirement System acquired a new stake in shares of Allegiance Bancshares during the 1st quarter valued at about $234,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Allegiance Bancshares during the 2nd quarter valued at about $239,000. GSA Capital Partners LLP acquired a new stake in shares of Allegiance Bancshares during the 2nd quarter valued at about $244,000. Finally, American International Group Inc. grew its position in shares of Allegiance Bancshares by 7.1% during the 1st quarter. American International Group Inc. now owns 6,763 shares of the bank’s stock valued at $252,000 after acquiring an additional 448 shares during the period. Hedge funds and other institutional investors own 41.32% of the company’s stock.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Allegiance Bancshares from a “hold” rating to a “strong sell” rating in a research note on Friday, October 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $44.00 price target on shares of Allegiance Bancshares in a research note on Thursday, October 26th. TheStreet raised shares of Allegiance Bancshares from a “c-” rating to a “b-” rating in a research note on Tuesday, October 24th. Finally, BidaskClub lowered shares of Allegiance Bancshares from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.67.

Allegiance Bancshares Inc (NASDAQ:ABTX) traded down $0.30 on Thursday, reaching $38.30. 32,078 shares of the company’s stock were exchanged, compared to its average volume of 33,704. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04. Allegiance Bancshares Inc has a twelve month low of $30.55 and a twelve month high of $40.53. The stock has a market cap of $506.17 and a price-to-earnings ratio of 25.89.

Allegiance Bancshares (NASDAQ:ABTX) last released its earnings results on Tuesday, October 24th. The bank reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.27). Allegiance Bancshares had a return on equity of 6.91% and a net margin of 16.88%. The business had revenue of $28.46 million during the quarter, compared to analysts’ expectations of $28.81 million. During the same period last year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. sell-side analysts forecast that Allegiance Bancshares Inc will post 1.59 EPS for the current year.

In other news, Director Umesh Jain sold 34,000 shares of Allegiance Bancshares stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $39.01, for a total transaction of $1,326,340.00. Following the sale, the director now owns 132,275 shares of the company’s stock, valued at approximately $5,160,047.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daryl D. Bohls sold 1,500 shares of Allegiance Bancshares stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $38.00, for a total transaction of $57,000.00. The disclosure for this sale can be found here. Insiders sold a total of 61,564 shares of company stock worth $2,386,720 over the last three months. Corporate insiders own 13.88% of the company’s stock.

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About Allegiance Bancshares

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.

Institutional Ownership by Quarter for Allegiance Bancshares (NASDAQ:ABTX)

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