Allegiance Bancshares (ABTX) Raised to “Buy” at BidaskClub

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.

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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.

Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.02). Allegiance Bancshares had a net margin of 14.07% and a return on equity of 7.13%. The company had revenue of $33.62 million during the quarter, compared to analyst estimates of $30.36 million. During the same quarter last year, the business earned $0.44 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. research analysts forecast that Allegiance Bancshares will post 2.56 EPS for the current fiscal year.

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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