A number of other equities research analysts have also recently issued reports on the stock. Raymond James cut shares of First Midwest Bancorp to a hold rating in a research note on Monday, July 8th. ValuEngine raised shares of The Western Union from a sell rating to a hold rating in a research note on Friday, March 22nd. Zacks Investment Research cut shares of First Merchants from a hold rating to a sell rating in a research note on Monday, July 1st. Finally, Stephens reissued a hold rating and issued a $36.00 price target on shares of Allegiance Bancshares in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $37.82.
Shares of NASDAQ ABTX opened at $33.51 on Friday. The firm has a market cap of $715.14 million, a PE ratio of 13.30 and a beta of 1.40. Allegiance Bancshares has a 12 month low of $28.58 and a 12 month high of $46.00. The stock’s 50 day moving average price is $33.09. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.29.
Allegiance Bancshares (NASDAQ:ABTX) last issued its quarterly earnings data on Friday, April 26th. The bank reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.03). The firm had revenue of $47.89 million for the quarter, compared to analyst estimates of $48.20 million. Allegiance Bancshares had a return on equity of 8.88% and a net margin of 21.98%. On average, equities analysts forecast that Allegiance Bancshares will post 2.72 EPS for the current year.
In other Allegiance Bancshares news, Director Umesh Jain sold 3,692 shares of Allegiance Bancshares stock in a transaction on Monday, June 24th. The shares were sold at an average price of $33.21, for a total transaction of $122,611.32. Following the sale, the director now owns 81,531 shares of the company’s stock, valued at approximately $2,707,644.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Louis A. Jr. Waters sold 1,500 shares of Allegiance Bancshares stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $36.61, for a total transaction of $54,915.00. Following the sale, the director now directly owns 37,229 shares in the company, valued at approximately $1,362,953.69. The disclosure for this sale can be found here. Insiders sold a total of 6,962 shares of company stock worth $236,308 in the last three months. 10.17% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP grew its holdings in shares of Allegiance Bancshares by 16.5% during the 4th quarter. First Trust Advisors LP now owns 43,832 shares of the bank’s stock valued at $1,419,000 after purchasing an additional 6,220 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Allegiance Bancshares by 5.2% during the 4th quarter. BlackRock Inc. now owns 677,093 shares of the bank’s stock valued at $21,916,000 after purchasing an additional 33,650 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Allegiance Bancshares by 5.2% during the 4th quarter. Bank of New York Mellon Corp now owns 59,830 shares of the bank’s stock valued at $1,937,000 after purchasing an additional 2,935 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Allegiance Bancshares by 4.1% during the 4th quarter. Northern Trust Corp now owns 160,680 shares of the bank’s stock valued at $5,201,000 after purchasing an additional 6,282 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Allegiance Bancshares by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 268,112 shares of the bank’s stock valued at $8,678,000 after purchasing an additional 1,106 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.
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, and savings accounts, as well as other time deposits comprising money market accounts and certificates of deposit.
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