Cullen Frost Bankers Inc. continued to hold its position in Allegiance Bancshares Inc. (NASDAQ:ABTX) during the second quarter, according to its most recent filing with the SEC. The firm owned 13,333 shares of the company’s stock at the end of the second quarter. Cullen Frost Bankers Inc.’s holdings in Allegiance Bancshares were worth $332,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Callahan Advisors LLC increased its stake in shares of Allegiance Bancshares by 28.3% in the second quarter. Callahan Advisors LLC now owns 41,114 shares of the company’s stock valued at $1,023,000 after buying an additional 9,073 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC increased its stake in shares of Allegiance Bancshares by 99.6% in the second quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 191,743 shares of the company’s stock valued at $4,770,000 after buying an additional 95,700 shares during the period. Foundry Partners LLC purchased a new stake in shares of Allegiance Bancshares during the second quarter valued at $1,238,000. Endeavour Capital Advisors Inc. increased its stake in shares of Allegiance Bancshares by 154.7% in the first quarter. Endeavour Capital Advisors Inc. now owns 484,827 shares of the company’s stock valued at $8,906,000 after buying an additional 294,451 shares during the period. Finally, LPL Financial LLC purchased a new stake in shares of Allegiance Bancshares during the first quarter valued at $208,000. Hedge funds and other institutional investors own 28.39% of the company’s stock.
Allegiance Bancshares Inc. (NASDAQ:ABTX) traded up 3.01% during midday trading on Friday, reaching $27.00. 41,072 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $26.72 and its 200-day moving average is $23.59. The stock has a market capitalization of $347.63 million and a price-to-earnings ratio of 16.56. Allegiance Bancshares Inc. has a 12-month low of $14.38 and a 12-month high of $28.98.
Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. Allegiance Bancshares had a net margin of 19.88% and a return on equity of 8.04%. On average, equities analysts forecast that Allegiance Bancshares Inc. will post $1.64 earnings per share for the current year.
Several brokerages recently weighed in on ABTX. Zacks Investment Research raised shares of Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Thursday, July 28th. Keefe, Bruyette & Woods raised their price target on shares of Allegiance Bancshares from $25.00 to $26.00 and gave the company a “market perform” rating in a research report on Thursday, July 28th. Finally, Robert W. Baird downgraded shares of Allegiance Bancshares from an “outperform” rating to a “neutral” rating and set a $28.00 price target for the company. in a research report on Wednesday, September 21st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Allegiance Bancshares currently has an average rating of “Hold” and a consensus target price of $27.67.
In other news, insider Lawrence G. Fraser sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $26.18, for a total value of $52,360.00. Following the completion of the sale, the insider now owns 6,818 shares of the company’s stock, valued at approximately $178,495.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 16.04% of the stock is currently owned by insiders.
Allegiance Bancshares Company Profile
Allegiance Bancshares, Inc is a bank holding company. Through its subsidiary, Allegiance Bank (the Bank), the Company provides a range of commercial banking services primarily to Houston metropolitan area-based small to medium-sized businesses, professionals and individual customers. In addition to banking during normal business hours, the Company offers extended drive-in hours, automated teller machines (ATMs) and banking by telephone, mail and Internet.
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