Allegiance Bancshares (NASDAQ:ABTX) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Saturday.
Separately, Zacks Investment Research upgraded shares of Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Friday, January 12th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Allegiance Bancshares has a consensus rating of “Buy” and an average target price of $43.33.
Shares of NASDAQ ABTX opened at $40.20 on Friday. Allegiance Bancshares has a 52 week low of $31.75 and a 52 week high of $42.60. The stock has a market capitalization of $534.06, a P/E ratio of 25.44 and a beta of 1.92.
In other Allegiance Bancshares news, insider Daryl D. Bohls sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $38.10, for a total transaction of $57,150.00. Following the completion of the transaction, the insider now directly owns 7,723 shares in the company, valued at approximately $294,246.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul P. Egge sold 766 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $40.37, for a total transaction of $30,923.42. Following the transaction, the insider now owns 9,934 shares of the company’s stock, valued at $401,035.58. The disclosure for this sale can be found here. Insiders sold 57,177 shares of company stock valued at $2,250,008 in the last quarter. Company insiders own 12.74% of the company’s stock.
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. 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. Two Sigma Investments LP purchased a new position in Allegiance Bancshares during the 4th quarter valued at about $319,000. Campbell Newman Asset Management Inc. increased its holdings in Allegiance Bancshares by 22.5% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 10,612 shares of the bank’s stock valued at $400,000 after acquiring an additional 1,949 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Allegiance Bancshares by 64.0% during the 3rd quarter. Wells Fargo & Company MN now owns 11,753 shares of the bank’s stock valued at $432,000 after acquiring an additional 4,586 shares in the last quarter. Hedge funds and other institutional investors own 42.60% 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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