Allegiance Bancshares, Inc. (NASDAQ:ABTX) insider Daryl D. Bohls sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $32.24, for a total transaction of $48,360.00. Following the completion of the sale, the insider now owns 7,927 shares of the company’s stock, valued at approximately $255,566.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Allegiance Bancshares, Inc. (ABTX) opened at 33.55 on Tuesday. The stock has a market cap of $441.55 million, a P/E ratio of 19.62 and a beta of 2.38. The company has a 50-day moving average of $36.02 and a 200 day moving average of $37.51. Allegiance Bancshares, Inc. has a 1-year low of $25.16 and a 1-year high of $40.45.
Allegiance Bancshares (NASDAQ:ABTX) last posted its earnings results on Tuesday, July 25th. The bank reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.06. Allegiance Bancshares had a net margin of 19.75% and a return on equity of 7.90%. The company had revenue of $26.58 million during the quarter, compared to analyst estimates of $27.24 million. During the same period in the previous year, the company earned $0.36 EPS. Analysts predict that Allegiance Bancshares, Inc. will post $1.89 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Allegiance Bancshares by 14.6% in the first quarter. Vanguard Group Inc. now owns 434,296 shares of the bank’s stock valued at $16,156,000 after buying an additional 55,342 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Allegiance Bancshares by 600.6% in the first quarter. Dimensional Fund Advisors LP now owns 42,244 shares of the bank’s stock valued at $1,571,000 after buying an additional 36,214 shares during the last quarter. Mendon Capital Advisors Corp acquired a new position in Allegiance Bancshares in the first quarter valued at about $897,000. Wellington Management Group LLP acquired a new position in Allegiance Bancshares in the first quarter valued at about $3,441,000. Finally, Menta Capital LLC acquired a new position in Allegiance Bancshares in the first quarter valued at about $266,000. 39.73% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of Allegiance Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Allegiance Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 27th. Keefe, Bruyette & Woods set a $42.00 target price on shares of Allegiance Bancshares and gave the stock a “hold” rating in a report on Monday, August 28th. Finally, Stephens reaffirmed a “buy” rating and issued a $42.00 price target on shares of Allegiance Bancshares in a research note on Thursday, June 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $41.25.
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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