BidaskClub upgraded shares of Allegiance Bancshares (NASDAQ:ABTX) from a sell rating to a hold rating in a report issued on Friday morning.
Separately, Zacks Investment Research upgraded shares of Allegiance Bancshares from a sell rating to a hold rating in a report on Tuesday, December 26th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $43.33.
Allegiance Bancshares (NASDAQ:ABTX) opened at $40.70 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The stock has a market cap of $536.49 and a PE ratio of 27.13. Allegiance Bancshares has a twelve month low of $31.75 and a twelve month high of $41.45.
In other Allegiance Bancshares news, Director Thomas A. Reiser sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $38.38, for a total transaction of $959,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Michael Mann sold 3,639 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $40.77, for a total transaction of $148,362.03. Following the transaction, the director now owns 42,752 shares of the company’s stock, valued at $1,742,999.04. The disclosure for this sale can be found here. Insiders have sold a total of 57,177 shares of company stock valued at $2,250,008 over the last 90 days. 13.88% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of ABTX. MetLife Investment Advisors LLC purchased a new position in Allegiance Bancshares during the 4th quarter valued at about $219,000. Parametric Portfolio Associates LLC purchased a new position in Allegiance Bancshares during the 2nd quarter valued at about $239,000. Voya Investment Management LLC increased its holdings in Allegiance Bancshares by 15.0% during the 2nd quarter. Voya Investment Management LLC now owns 6,910 shares of the bank’s stock valued at $265,000 after acquiring an additional 899 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Allegiance Bancshares by 1.8% during the 2nd quarter. Wells Fargo & Company MN now owns 7,167 shares of the bank’s stock valued at $275,000 after acquiring an additional 129 shares in the last quarter. Finally, GSA Capital Partners LLP increased its holdings in Allegiance Bancshares by 25.3% during the 3rd quarter. GSA Capital Partners LLP now owns 7,998 shares of the bank’s stock valued at $294,000 after acquiring an additional 1,616 shares in the last quarter. Hedge funds and other institutional investors own 42.79% of the company’s stock.
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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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