Allegiance Bancshares Inc (NASDAQ:ABTX) Receives $37.42 Average PT from Analysts

Shares of Allegiance Bancshares Inc (NASDAQ:ABTX) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $37.42.

A number of research analysts have recently commented on ABTX shares. Zacks Investment Research upgraded Allegiance Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, July 1st. BidaskClub upgraded Allegiance Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Raymond James set a $38.00 price target on Allegiance Bancshares and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, ValuEngine upgraded Allegiance Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th.

NASDAQ ABTX traded down $0.96 on Tuesday, hitting $33.50. 240,274 shares of the company’s stock were exchanged, compared to its average volume of 92,821. The stock has a 50-day moving average of $32.76 and a 200-day moving average of $34.14. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.21. Allegiance Bancshares has a 52 week low of $28.58 and a 52 week high of $45.20. The stock has a market cap of $729.11 million, a price-to-earnings ratio of 13.29 and a beta of 1.40.



Allegiance Bancshares (NASDAQ:ABTX) last released its earnings results on Friday, July 26th. The bank reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. Allegiance Bancshares had a return on equity of 8.32% and a net margin of 22.35%. The firm had revenue of $49.42 million during the quarter, compared to analysts’ expectations of $48.20 million. As a group, analysts predict that Allegiance Bancshares will post 2.61 earnings per share for the current year.

In related news, Director Umesh Jain sold 3,692 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $33.21, for a total value of $122,611.32. Following the completion of the sale, the director now directly owns 81,531 shares in the company, valued at $2,707,644.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roland L. Williams sold 4,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $34.36, for a total value of $137,440.00. Following the completion of the sale, the director now owns 158,468 shares of the company’s stock, valued at $5,444,960.48. The disclosure for this sale can be found here. Insiders sold a total of 124,238 shares of company stock valued at $4,091,607 over the last quarter. 10.17% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aperio Group LLC acquired a new stake in Allegiance Bancshares in the second quarter valued at $55,000. Banc Funds Co. LLC increased its holdings in Allegiance Bancshares by 25.6% in the second quarter. Banc Funds Co. LLC now owns 408,758 shares of the bank’s stock valued at $13,628,000 after purchasing an additional 83,226 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Allegiance Bancshares by 527.2% in the first quarter. BNP Paribas Arbitrage SA now owns 2,465 shares of the bank’s stock valued at $83,000 after purchasing an additional 2,072 shares during the period. Marshall Wace North America L.P. acquired a new stake in Allegiance Bancshares in the first quarter valued at $254,000. Finally, Cortina Asset Management LLC increased its holdings in Allegiance Bancshares by 14.1% in the second quarter. Cortina Asset Management LLC now owns 126,070 shares of the bank’s stock valued at $4,203,000 after purchasing an additional 15,557 shares during the period. Institutional investors and hedge funds own 33.18% of the company’s stock.

About Allegiance Bancshares

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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