Royce & Associates LP raised its position in Allegiance Bancshares, Inc. (NASDAQ:ABTX) by 54.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,000 shares of the bank’s stock after acquiring an additional 20,500 shares during the quarter. Royce & Associates LP owned approximately 0.44% of Allegiance Bancshares worth $2,221,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in ABTX. Stephens Investment Management Group LLC acquired a new stake in Allegiance Bancshares in the first quarter valued at $5,121,000. ACK Asset Management LLC acquired a new stake in Allegiance Bancshares in the first quarter valued at $3,623,000. Wellington Management Group LLP acquired a new stake in Allegiance Bancshares in the first quarter valued at $3,441,000. Vanguard Group Inc. lifted its stake 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 acquiring an additional 55,342 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake 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 acquiring an additional 36,214 shares during the last quarter. Hedge funds and other institutional investors own 39.73% of the company’s stock.
A number of analysts have commented on the stock. BidaskClub cut shares of Allegiance Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. 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. Keefe, Bruyette & Woods set a $42.00 price target on shares of Allegiance Bancshares and gave the company a “hold” rating in a research note on Monday, August 28th. Finally, Stephens reiterated 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 issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $41.25.
In other news, insider Daryl D. Bohls sold 1,500 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $32.24, for a total value of $48,360.00. Following the completion of the sale, the insider now owns 7,927 shares in the company, valued at approximately $255,566.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frances H. Jeter bought 4,000 shares of Allegiance Bancshares stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $35.93 per share, with a total value of $143,720.00. Following the purchase, the director now owns 7,874 shares in the company, valued at $282,912.82. The disclosure for this purchase can be found here. In the last quarter, insiders sold 33,900 shares of company stock valued at $1,210,738. Company insiders own 13.88% of the company’s stock.
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Shares of Allegiance Bancshares, Inc. (NASDAQ:ABTX) opened at 33.65 on Wednesday. Allegiance Bancshares, Inc. has a 52 week low of $25.16 and a 52 week high of $40.45. The firm has a 50-day moving average of $35.86 and a 200-day moving average of $37.50. The firm has a market cap of $442.87 million, a PE ratio of 19.68 and a beta of 2.38.
Allegiance Bancshares (NASDAQ:ABTX) last posted its earnings results on Tuesday, July 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.06). Allegiance Bancshares had a return on equity of 7.90% and a net margin of 19.75%. The firm had revenue of $26.58 million during the quarter, compared to the consensus estimate of $27.24 million. During the same quarter in the previous year, the company earned $0.36 EPS. On average, analysts expect that Allegiance Bancshares, Inc. will post $1.89 EPS for the current year.
Allegiance Bancshares 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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