Allegiance Bancshares (NASDAQ:ABTX) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Wednesday, May 9th.
Separately, Zacks Investment Research downgraded Allegiance Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Allegiance Bancshares presently has an average rating of “Hold” and a consensus price target of $43.33.
Shares of Allegiance Bancshares stock traded down $0.20 during trading hours on Wednesday, reaching $42.25. The stock had a trading volume of 23,503 shares, compared to its average volume of 21,904. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.06 and a quick ratio of 1.06. Allegiance Bancshares has a 1 year low of $31.75 and a 1 year high of $43.25. The company has a market cap of $565.68 million, a price-to-earnings ratio of 26.74 and a beta of 1.91.
Allegiance Bancshares (NASDAQ:ABTX) last issued its quarterly earnings data on Thursday, April 26th. The bank reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The firm had revenue of $28.54 million during the quarter, compared to analyst estimates of $29.65 million. Allegiance Bancshares had a return on equity of 7.54% and a net margin of 14.79%. research analysts anticipate that Allegiance Bancshares will post 2.51 EPS for the current year.
In related news, insider Daryl D. Bohls sold 1,500 shares of the business’s stock in a transaction dated Monday, April 9th. The stock was sold at an average price of $40.69, for a total transaction of $61,035.00. Following the completion of the transaction, the insider now owns 7,927 shares of the company’s stock, valued at approximately $322,549.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Michael Mann sold 11,250 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $40.10, for a total value of $451,125.00. Following the transaction, the director now owns 42,752 shares in the company, valued at $1,714,355.20. The disclosure for this sale can be found here. Insiders have sold 14,250 shares of company stock worth $572,220 in the last quarter. 12.74% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in ABTX. EJF Capital LLC bought a new stake in shares of Allegiance Bancshares in the 1st quarter valued at approximately $3,915,000. Teton Advisors Inc. acquired a new position in shares of Allegiance Bancshares in the 1st quarter worth approximately $2,654,000. Dimensional Fund Advisors LP lifted its holdings in Allegiance Bancshares by 37.9% during the 1st 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. Callahan Advisors LLC lifted its holdings in Allegiance Bancshares by 88.2% during the 4th quarter. Callahan Advisors LLC now owns 95,265 shares of the bank’s stock worth $3,587,000 after buying an additional 44,647 shares in the last quarter. Finally, STA Wealth Management LLC acquired a new position in Allegiance Bancshares during the 4th quarter worth $1,007,000. Institutional investors own 42.67% of the company’s stock.
Allegiance Bancshares Company Profile
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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