Allegiance Bancshares Inc (ABTX) Expected to Announce Earnings of $0.64 Per Share

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Equities research analysts expect that Allegiance Bancshares Inc (NASDAQ:ABTX) will post earnings per share of $0.64 for the current quarter, Zacks reports. Two analysts have issued estimates for Allegiance Bancshares’ earnings. The highest EPS estimate is $0.65 and the lowest is $0.63. Allegiance Bancshares posted earnings of $0.22 per share in the same quarter last year, which suggests a positive year over year growth rate of 190.9%. The firm is expected to announce its next quarterly earnings results before the market opens on Thursday, October 25th.

According to Zacks, analysts expect that Allegiance Bancshares will report full year earnings of $2.54 per share for the current financial year, with EPS estimates ranging from $2.51 to $2.57. For the next financial year, analysts forecast that the firm will post earnings of $3.15 per share, with EPS estimates ranging from $3.14 to $3.16. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Allegiance Bancshares.

Allegiance Bancshares (NASDAQ:ABTX) last announced its earnings results on Thursday, July 26th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.06. Allegiance Bancshares had a net margin of 15.77% and a return on equity of 8.66%. The company had revenue of $29.62 million during the quarter, compared to analyst estimates of $30.06 million.

Several brokerages recently issued reports on ABTX. BidaskClub upgraded shares of Allegiance Bancshares from a “hold” rating to a “buy” rating in a research report on Thursday, June 28th. Raymond James began coverage on shares of Allegiance Bancshares in a research report on Tuesday, October 2nd. They issued a “strong-buy” rating and a $48.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Wednesday, September 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Allegiance Bancshares currently has a consensus rating of “Buy” and an average price target of $46.67.

Shares of NASDAQ:ABTX opened at $40.12 on Friday. Allegiance Bancshares has a 52-week low of $36.10 and a 52-week high of $46.85. The firm has a market capitalization of $534.70 million, a P/E ratio of 25.39 and a beta of 1.83. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.86.

In other Allegiance Bancshares news, Director Fred S. Robertson purchased 2,250 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was acquired at an average cost of $44.47 per share, for a total transaction of $100,057.50. Following the completion of the transaction, the director now directly owns 4,606 shares in the company, valued at approximately $204,828.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul Michael Mann sold 10,635 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $45.16, for a total transaction of $480,276.60. Following the sale, the director now owns 40,049 shares of the company’s stock, valued at $1,808,612.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,924 shares of company stock valued at $763,828. Company insiders own 12.74% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can purchased a new stake in Allegiance Bancshares during the second quarter valued at about $194,000. UBS Group AG boosted its holdings in shares of Allegiance Bancshares by 208.5% during the first quarter. UBS Group AG now owns 5,272 shares of the bank’s stock worth $206,000 after purchasing an additional 3,563 shares during the period. Sheets Smith Wealth Management purchased a new stake in shares of Allegiance Bancshares during the third quarter worth about $245,000. Rhumbline Advisers boosted its holdings in shares of Allegiance Bancshares by 15.1% during the second quarter. Rhumbline Advisers now owns 11,541 shares of the bank’s stock worth $500,000 after purchasing an additional 1,516 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Allegiance Bancshares during the second quarter worth about $510,000. Institutional investors and hedge funds own 45.97% of the company’s stock.

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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