$47.01 Million in Sales Expected for Allegiance Bancshares Inc (ABTX) This Quarter

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Equities analysts expect Allegiance Bancshares Inc (NASDAQ:ABTX) to report sales of $47.01 million for the current quarter, according to Zacks. Two analysts have issued estimates for Allegiance Bancshares’ earnings, with the highest sales estimate coming in at $48.20 million and the lowest estimate coming in at $45.81 million. Allegiance Bancshares posted sales of $28.54 million in the same quarter last year, which indicates a positive year over year growth rate of 64.7%. The company is scheduled to announce its next earnings report before the market opens on Friday, April 26th.

According to Zacks, analysts expect that Allegiance Bancshares will report full-year sales of $196.47 million for the current fiscal year, with estimates ranging from $191.54 million to $201.40 million. For the next fiscal year, analysts anticipate that the firm will report sales of $213.45 million, with estimates ranging from $207.60 million to $219.30 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Allegiance Bancshares.

Allegiance Bancshares (NASDAQ:ABTX) last released its quarterly earnings results on Friday, January 25th. The bank reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.05). The company had revenue of $48.17 million for the quarter, compared to analysts’ expectations of $46.96 million. Allegiance Bancshares had a net margin of 22.48% and a return on equity of 9.55%.

Several equities research analysts have issued reports on ABTX shares. BidaskClub raised shares of Allegiance Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. Brean Capital initiated coverage on Allegiance Bancshares in a report on Friday, March 1st. They issued a “hold” rating and a $38.26 target price for the company. ValuEngine downgraded Allegiance Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, December 13th. Stephens reaffirmed a “hold” rating and issued a $37.00 price target on shares of Allegiance Bancshares in a research report on Friday, January 25th. Finally, Zacks Investment Research raised shares of Allegiance Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $39.32.

In other news, CEO George Martinez sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $36.50, for a total transaction of $547,500.00. Following the sale, the chief executive officer now owns 1,000 shares of the company’s stock, valued at approximately $36,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William S. Nichols III sold 1,000 shares of the stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $36.76, for a total transaction of $36,760.00. Following the sale, the director now directly owns 2,360 shares in the company, valued at $86,753.60. The disclosure for this sale can be found here. Insiders sold a total of 36,561 shares of company stock valued at $1,367,567 over the last ninety days. 10.17% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Allegiance Bancshares by 5.2% in the fourth quarter. BlackRock Inc. now owns 677,093 shares of the bank’s stock valued at $21,916,000 after buying an additional 33,650 shares in the last quarter. Vanguard Group Inc lifted its holdings in Allegiance Bancshares by 0.6% during the third quarter. Vanguard Group Inc now owns 535,412 shares of the bank’s stock valued at $22,327,000 after purchasing an additional 3,128 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Allegiance Bancshares by 0.6% in the third quarter. Vanguard Group Inc. now owns 535,412 shares of the bank’s stock valued at $22,327,000 after purchasing an additional 3,128 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Allegiance Bancshares by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 268,112 shares of the bank’s stock worth $8,678,000 after purchasing an additional 1,106 shares in the last quarter. Finally, Royce & Associates LP raised its position in shares of Allegiance Bancshares by 111.2% during the 4th quarter. Royce & Associates LP now owns 227,639 shares of the bank’s stock worth $7,369,000 after purchasing an additional 119,839 shares during the last quarter. Hedge funds and other institutional investors own 30.16% of the company’s stock.

NASDAQ:ABTX traded up $0.22 during mid-day trading on Wednesday, hitting $36.04. 46,741 shares of the stock traded hands, compared to its average volume of 96,182. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.32. Allegiance Bancshares has a 52 week low of $28.58 and a 52 week high of $46.85. The company has a market capitalization of $776.29 million, a price-to-earnings ratio of 14.30 and a beta of 1.57.

About Allegiance Bancshares

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, and savings accounts, as well as other time deposits comprising money market accounts and certificates of deposit.

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