Allegiance Bancshares (NASDAQ:ABTX) Shares Gap Down to $35.71

Allegiance Bancshares, Inc. (NASDAQ:ABTX)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $35.71, but opened at $34.99. Allegiance Bancshares shares last traded at $35.26, with a volume of 558 shares traded.

Separately, Zacks Investment Research cut Allegiance Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, August 30th.

The stock has a market cap of $721.47 million, a price-to-earnings ratio of 10.00 and a beta of 1.09. The stock has a 50-day moving average price of $36.41 and a two-hundred day moving average price of $38.86.

Allegiance Bancshares (NASDAQ:ABTX) last issued its earnings results on Wednesday, July 28th. The bank reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.22. The company had revenue of $58.87 million during the quarter, compared to analyst estimates of $58.77 million. Allegiance Bancshares had a return on equity of 9.54% and a net margin of 28.38%. As a group, equities analysts anticipate that Allegiance Bancshares, Inc. will post 4.04 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Tuesday, August 31st were paid a $0.12 dividend. The ex-dividend date was Monday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.34%. Allegiance Bancshares’s dividend payout ratio (DPR) is 21.62%.

A number of hedge funds have recently modified their holdings of ABTX. Victory Capital Management Inc. purchased a new position in Allegiance Bancshares in the 1st quarter worth $284,000. Rhumbline Advisers raised its stake in shares of Allegiance Bancshares by 0.9% during the 1st quarter. Rhumbline Advisers now owns 62,687 shares of the bank’s stock valued at $2,541,000 after buying an additional 577 shares during the last quarter. Arizona State Retirement System purchased a new position in shares of Allegiance Bancshares during the 1st quarter valued at about $229,000. IndexIQ Advisors LLC raised its stake in shares of Allegiance Bancshares by 12.9% during the 1st quarter. IndexIQ Advisors LLC now owns 9,808 shares of the bank’s stock valued at $398,000 after buying an additional 1,121 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Allegiance Bancshares by 1.1% during the 1st quarter. Swiss National Bank now owns 44,400 shares of the bank’s stock valued at $1,800,000 after buying an additional 500 shares during the last quarter. Institutional investors own 50.18% of the company’s stock.

About Allegiance Bancshares (NASDAQ:ABTX)

Allegiance Bancshares, Inc operates as a bank holding company. It engages in the provision of commercial banking services primarily to Houston metropolitan area-based small to medium-sized businesses and individual customers. The company was founded by George Martinez and Steven F. Retzloff in 2007 and is headquartered in Houston, TX.

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