Cullen Frost Bankers Inc. maintained its position in Allegiance Bancshares, Inc. (NASDAQ:ABTX) during the second quarter, Holdings Channel reports. The fund owned 13,333 shares of the bank’s stock at the end of the second quarter. Cullen Frost Bankers Inc.’s holdings in Allegiance Bancshares were worth $511,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its position in Allegiance Bancshares by 3.6% in the fourth quarter. State Street Corp now owns 159,786 shares of the bank’s stock valued at $5,776,000 after buying an additional 5,484 shares in the last quarter. Boston Advisors LLC raised its stake in shares of Allegiance Bancshares by 9.3% in the first quarter. Boston Advisors LLC now owns 19,445 shares of the bank’s stock valued at $723,000 after buying an additional 1,655 shares during the last quarter. Mendon Capital Advisors Corp bought a new stake in shares of Allegiance Bancshares during the first quarter valued at about $897,000. Wellington Management Group LLP bought a new stake in shares of Allegiance Bancshares during the first quarter valued at about $3,441,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Allegiance Bancshares during the fourth quarter valued at about $233,000. 35.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Allegiance Bancshares, Inc. (NASDAQ:ABTX) opened at 37.15 on Tuesday. Allegiance Bancshares, Inc. has a 52 week low of $24.27 and a 52 week high of $40.45. The stock has a market cap of $488.60 million, a price-to-earnings ratio of 21.73 and a beta of 2.32. The stock’s 50 day moving average is $38.70 and its 200 day moving average is $37.23.
Allegiance Bancshares (NASDAQ:ABTX) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.06. The company had revenue of $26.58 million for the quarter, compared to the consensus estimate of $27.24 million. Allegiance Bancshares had a net margin of 19.75% and a return on equity of 7.90%. During the same quarter last year, the company earned $0.36 EPS. On average, equities analysts forecast that Allegiance Bancshares, Inc. will post $1.89 EPS for the current year.
ABTX has been the subject of several research analyst reports. Stephens restated a “buy” rating on shares of Allegiance Bancshares in a research note on Tuesday, April 25th. BidaskClub upgraded shares of Allegiance Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, July 7th. Zacks Investment Research upgraded shares of Allegiance Bancshares from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $40.00 price target on shares of Allegiance Bancshares in a research note on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $40.75.
In related news, insider Daryl D. Bohls sold 1,500 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $39.67, for a total transaction of $59,505.00. Following the transaction, the insider now owns 7,927 shares in the company, valued at $314,464.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ramon A. Vitulli III sold 1,431 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $38.10, for a total transaction of $54,521.10. Following the transaction, the insider now owns 6,877 shares in the company, valued at approximately $262,013.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,400 shares of company stock worth $249,320. 13.88% of the stock is owned by insiders.
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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