Allegiance Bancshares (ABTX) Earns “Buy” Rating from Stephens

Stephens reissued their buy rating on shares of Allegiance Bancshares (NASDAQ:ABTX) in a research report released on Thursday morning. The brokerage currently has a $51.00 price target on the bank’s stock.

A number of other research firms also recently commented on ABTX. BidaskClub raised shares of Allegiance Bancshares from a hold rating to a buy rating in a research report on Saturday, July 21st. Raymond James started coverage on shares of Allegiance Bancshares in a research report on Tuesday, October 2nd. They issued a strong-buy rating and a $48.00 target price on the stock. Finally, Zacks Investment Research raised shares of Allegiance Bancshares from a hold rating to a buy rating and set a $48.00 target price on the stock in a research report on Wednesday, September 26th.

NASDAQ ABTX opened at $38.36 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $512.78 million, a P/E ratio of 24.28 and a beta of 1.84. Allegiance Bancshares has a 12 month low of $36.10 and a 12 month high of $46.85.



Allegiance Bancshares (NASDAQ:ABTX) last posted its earnings results on Thursday, October 25th. The bank reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. The firm had revenue of $29.96 million for the quarter, compared to the consensus estimate of $30.55 million. Allegiance Bancshares had a net margin of 19.41% and a return on equity of 10.47%. On average, research analysts forecast that Allegiance Bancshares will post 2.54 EPS for the current fiscal year.

In related news, Director Paul Michael Mann sold 10,635 shares of the stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $45.16, for a total value of $480,276.60. Following the transaction, the director now directly owns 40,049 shares of the company’s stock, valued at approximately $1,808,612.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Fred S. Robertson bought 2,250 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The stock was bought at an average cost of $44.47 per share, for a total transaction of $100,057.50. Following the completion of the transaction, the director now directly owns 4,606 shares in the company, valued at $204,828.82. The disclosure for this purchase can be found here. Insiders sold a total of 16,924 shares of company stock worth $763,828 over the last ninety days. Insiders own 12.74% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ABTX. First Trust Advisors LP boosted its stake in Allegiance Bancshares by 17.1% during the 3rd quarter. First Trust Advisors LP now owns 37,612 shares of the bank’s stock worth $1,568,000 after purchasing an additional 5,486 shares during the period. Sheets Smith Wealth Management acquired a new stake in Allegiance Bancshares during the 3rd quarter worth $245,000. Northern Trust Corp boosted its stake in Allegiance Bancshares by 4.0% during the 2nd quarter. Northern Trust Corp now owns 142,573 shares of the bank’s stock worth $6,181,000 after purchasing an additional 5,457 shares during the period. Bank of New York Mellon Corp boosted its stake in Allegiance Bancshares by 3.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,654 shares of the bank’s stock worth $2,413,000 after purchasing an additional 2,084 shares during the period. Finally, Stephens Investment Management Group LLC boosted its stake in Allegiance Bancshares by 20.8% during the 2nd quarter. Stephens Investment Management Group LLC now owns 178,090 shares of the bank’s stock worth $7,765,000 after purchasing an additional 30,712 shares during the period. 46.02% of the stock is currently owned by hedge funds and other 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, savings accounts, and other time deposits comprising money market accounts and certificates of deposit.

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