Allegiance Bancshares Inc (NASDAQ:ABTX) insider Daryl D. Bohls sold 1,500 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $37.64, for a total transaction of $56,460.00. Following the transaction, the insider now owns 7,927 shares of the company’s stock, valued at $298,372.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Allegiance Bancshares Inc (NASDAQ ABTX) traded up $0.50 during trading on Wednesday, reaching $37.95. 56,600 shares of the company’s stock traded hands, compared to its average volume of 33,733. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $493.65, a P/E ratio of 24.80 and a beta of 2.33. Allegiance Bancshares Inc has a 1-year low of $31.20 and a 1-year high of $40.53.
Allegiance Bancshares (NASDAQ:ABTX) last released its quarterly earnings data on Tuesday, October 24th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.27). Allegiance Bancshares had a net margin of 16.88% and a return on equity of 6.91%. The firm had revenue of $28.46 million during the quarter, compared to analysts’ expectations of $28.81 million. During the same quarter in the previous year, the firm posted $0.42 EPS. Allegiance Bancshares’s revenue was up 14.3% compared to the same quarter last year. analysts predict that Allegiance Bancshares Inc will post 1.59 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in ABTX. Bank of America Corp DE increased its position in shares of Allegiance Bancshares by 4.7% in the first 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 purchased a new position in shares of Allegiance Bancshares during the first quarter valued at about $234,000. Parametric Portfolio Associates LLC purchased a new position in shares of Allegiance Bancshares during the second quarter valued at about $239,000. GSA Capital Partners LLP purchased a new position in shares of Allegiance Bancshares during the second quarter valued at about $244,000. Finally, Voya Investment Management LLC increased its position in shares of Allegiance Bancshares by 15.0% during the second quarter. Voya Investment Management LLC now owns 6,910 shares of the bank’s stock valued at $265,000 after buying an additional 899 shares during the period. Hedge funds and other institutional investors own 41.32% of the company’s stock.
A number of research firms have recently issued reports on ABTX. Zacks Investment Research downgraded shares of Allegiance Bancshares from a “hold” rating to a “strong sell” rating in a report on Friday, October 27th. BidaskClub downgraded shares of Allegiance Bancshares from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Keefe, Bruyette & Woods set a $42.00 price objective on shares of Allegiance Bancshares and gave the stock a “hold” rating in a report on Monday, August 28th. Finally, TheStreet raised shares of Allegiance Bancshares from a “c-” rating to a “b-” rating in a report on Tuesday, October 24th. Two 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. The stock has a consensus rating of “Hold” and a consensus price target of $41.67.
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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