Allegiance Bancshares, Inc. (NASDAQ:ABTX) insider Daryl D. Bohls sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $32.24, for a total transaction of $48,360.00. Following the completion of the transaction, the insider now directly owns 7,927 shares of the company’s stock, valued at $255,566.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Allegiance Bancshares, Inc. (NASDAQ ABTX) opened at 33.65 on Wednesday. Allegiance Bancshares, Inc. has a 12-month low of $25.16 and a 12-month high of $40.45. The company has a market capitalization of $442.87 million, a P/E ratio of 19.68 and a beta of 2.38. The company has a 50-day moving average of $35.86 and a 200 day moving average of $37.50.
Allegiance Bancshares (NASDAQ:ABTX) last announced its earnings results on Tuesday, July 25th. The bank reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.06). Allegiance Bancshares had a net margin of 19.75% and a return on equity of 7.90%. The business had revenue of $26.58 million for the quarter, compared to analysts’ expectations of $27.24 million. During the same period in the prior year, the company posted $0.36 earnings per share. Equities research analysts forecast that Allegiance Bancshares, Inc. will post $1.89 earnings per share for the current fiscal year.
ABTX has been the subject of several analyst reports. Stephens reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Allegiance Bancshares in a report on Thursday, June 29th. BidaskClub downgraded shares of Allegiance Bancshares from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Zacks Investment Research raised shares of Allegiance Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, Keefe, Bruyette & Woods set a $42.00 price objective on shares of Allegiance Bancshares and gave the stock a “hold” rating in a report on Monday, August 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $41.25.
A number of hedge funds have recently made changes to their positions in ABTX. Teachers Advisors LLC boosted its position in shares of Allegiance Bancshares by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 18,171 shares of the bank’s stock worth $657,000 after purchasing an additional 759 shares during the period. Bank of Montreal Can bought a new position in shares of Allegiance Bancshares in the first quarter worth approximately $182,000. Bank of New York Mellon Corp boosted its position in shares of Allegiance Bancshares by 14.5% in the first quarter. Bank of New York Mellon Corp now owns 49,841 shares of the bank’s stock worth $1,855,000 after purchasing an additional 6,325 shares during the period. American International Group Inc. boosted its position in shares of Allegiance Bancshares by 7.1% in the first quarter. American International Group Inc. now owns 6,763 shares of the bank’s stock worth $252,000 after purchasing an additional 448 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Allegiance Bancshares in the first quarter worth approximately $3,441,000. 39.73% of the stock is owned by institutional investors and hedge funds.
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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