Allegiance Bancshares (ABTX) Raised to Buy at BidaskClub

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BidaskClub upgraded shares of Allegiance Bancshares (NASDAQ:ABTX) from a hold rating to a buy rating in a report released on Friday morning.

Separately, Zacks Investment Research downgraded Allegiance Bancshares from a buy rating to a hold rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $43.33.

Shares of NASDAQ ABTX opened at $43.85 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $580.34 million, a PE ratio of 27.59 and a beta of 1.93. Allegiance Bancshares has a 12-month low of $31.75 and a 12-month high of $44.50.

Allegiance Bancshares (NASDAQ:ABTX) last issued its quarterly earnings data on Thursday, April 26th. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.02. The business had revenue of $28.54 million during the quarter, compared to the consensus estimate of $29.65 million. Allegiance Bancshares had a return on equity of 7.54% and a net margin of 14.79%. analysts predict that Allegiance Bancshares will post 2.51 earnings per share for the current year.

In related news, Director Paul Michael Mann sold 11,250 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $40.10, for a total transaction of $451,125.00. Following the sale, the director now owns 42,752 shares of the company’s stock, valued at $1,714,355.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daryl D. Bohls sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $40.04, for a total value of $60,060.00. Following the sale, the insider now directly owns 7,927 shares in the company, valued at approximately $317,397.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,250 shares of company stock worth $572,220. 12.74% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in ABTX. Wells Fargo & Company MN raised its holdings in Allegiance Bancshares by 64.0% during the third quarter. Wells Fargo & Company MN now owns 11,753 shares of the bank’s stock worth $432,000 after purchasing an additional 4,586 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Allegiance Bancshares by 40.0% during the third quarter. Dimensional Fund Advisors LP now owns 92,580 shares of the bank’s stock worth $3,407,000 after purchasing an additional 26,432 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Allegiance Bancshares by 13.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 25,013 shares of the bank’s stock worth $942,000 after purchasing an additional 2,913 shares in the last quarter. BlackRock Inc. raised its holdings in Allegiance Bancshares by 1.2% during the fourth quarter. BlackRock Inc. now owns 583,941 shares of the bank’s stock worth $21,986,000 after purchasing an additional 6,893 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Allegiance Bancshares by 11.6% during the fourth quarter. Deutsche Bank AG now owns 58,375 shares of the bank’s stock worth $2,195,000 after purchasing an additional 6,061 shares in the last quarter. 44.79% of the stock is currently owned by hedge funds and other institutional investors.

Allegiance Bancshares Company Profile

Allegiance Bancshares, Inc operates as the bank holding company for Allegiance Bank that provides a range of commercial banking services primarily to small and medium-sized businesses, professionals, and individual customers. It accepts deposit products, including checking accounts, commercial accounts, savings accounts, and other time deposits comprising money market accounts and certificates of deposit.

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