Brokerages forecast that Allegiance Bancshares, Inc. (NASDAQ:ABTX) will post sales of $58.57 million for the current quarter, Zacks reports. Three analysts have provided estimates for Allegiance Bancshares’ earnings, with the highest sales estimate coming in at $59.60 million and the lowest estimate coming in at $57.60 million. Allegiance Bancshares reported sales of $52.41 million in the same quarter last year, which indicates a positive year over year growth rate of 11.8%. The business is scheduled to issue its next quarterly earnings report on Thursday, July 29th.
On average, analysts expect that Allegiance Bancshares will report full year sales of $230.37 million for the current year, with estimates ranging from $222.20 million to $236.20 million. For the next financial year, analysts expect that the company will post sales of $224.40 million, with estimates ranging from $219.20 million to $228.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Allegiance Bancshares.
Allegiance Bancshares (NASDAQ:ABTX) last announced its earnings results on Wednesday, April 28th. The bank reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.06. Allegiance Bancshares had a net margin of 17.69% and a return on equity of 6.00%.
Shares of ABTX stock opened at $40.98 on Friday. Allegiance Bancshares has a 12 month low of $21.44 and a 12 month high of $43.34. The stock has a market cap of $827.10 million, a PE ratio of 19.42 and a beta of 1.20. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average price is $40.45 and its 200-day moving average price is $36.54.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, May 28th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Thursday, May 27th. Allegiance Bancshares’s dividend payout ratio (DPR) is 18.68%.
In other Allegiance Bancshares news, Director Roland L. Williams sold 1,600 shares of the business’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $36.59, for a total value of $58,544.00. Following the completion of the transaction, the director now owns 96,519 shares of the company’s stock, valued at approximately $3,531,630.21. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 8,000 shares of company stock valued at $314,752. 8.57% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABTX. Northern Trust Corp increased its position in shares of Allegiance Bancshares by 74.3% during the 1st quarter. Northern Trust Corp now owns 391,509 shares of the bank’s stock valued at $15,872,000 after purchasing an additional 166,912 shares during the last quarter. BlackRock Inc. grew its stake in shares of Allegiance Bancshares by 4.1% during the 4th quarter. BlackRock Inc. now owns 2,950,208 shares of the bank’s stock valued at $100,690,000 after acquiring an additional 115,256 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Allegiance Bancshares during the 1st quarter valued at approximately $3,221,000. JPMorgan Chase & Co. grew its stake in shares of Allegiance Bancshares by 95.7% during the 4th quarter. JPMorgan Chase & Co. now owns 60,811 shares of the bank’s stock valued at $2,075,000 after acquiring an additional 29,732 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in shares of Allegiance Bancshares by 1,227.7% during the 1st quarter. Panagora Asset Management Inc. now owns 25,811 shares of the bank’s stock valued at $1,046,000 after acquiring an additional 23,867 shares during the period. 44.34% of the stock is owned by hedge funds and other institutional investors.
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, money market accounts, savings accounts, and other time deposits; and certificates of deposit.
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