Robert W. Baird downgraded shares of Allegiance Bancshares Inc. (NASDAQ:ABTX) from an outperform rating to a neutral rating in a research note issued to investors on Wednesday. The firm currently has $28.00 price target on the stock.
Several other research firms have also commented on ABTX. Zacks Investment Research raised shares of Allegiance Bancshares from a hold rating to a buy rating and set a $29.00 target price on the stock in a report on Thursday, July 28th. Keefe, Bruyette & Woods raised their price target on shares of Allegiance Bancshares from $25.00 to $26.00 and gave the stock a market perform rating in a report on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $27.67.
Shares of Allegiance Bancshares (NASDAQ:ABTX) opened at 26.17 on Wednesday. The company has a 50 day moving average of $26.52 and a 200-day moving average of $23.29. The firm has a market cap of $336.94 million and a price-to-earnings ratio of 16.06. Allegiance Bancshares has a 12-month low of $14.38 and a 12-month high of $28.98.
Allegiance Bancshares (NASDAQ:ABTX) last released its earnings results on Tuesday, July 26th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Allegiance Bancshares had a net margin of 19.88% and a return on equity of 8.04%. Analysts predict that Allegiance Bancshares will post $1.64 EPS for the current year.
In other Allegiance Bancshares news, insider Lawrence G. Fraser sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $26.18, for a total value of $52,360.00. Following the sale, the insider now owns 6,818 shares of the company’s stock, valued at approximately $178,495.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 16.04% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in shares of Allegiance Bancshares by 20.0% in the first quarter. Goldman Sachs Group Inc. now owns 12,235 shares of the company’s stock worth $225,000 after buying an additional 2,035 shares during the period. Geode Capital Management LLC raised its stake in shares of Allegiance Bancshares by 8.0% in the first quarter. Geode Capital Management LLC now owns 31,132 shares of the company’s stock worth $571,000 after buying an additional 2,318 shares during the last quarter. RMB Capital Management LLC raised its stake in shares of Allegiance Bancshares by 4.6% in the first quarter. RMB Capital Management LLC now owns 90,695 shares of the company’s stock worth $1,666,000 after buying an additional 3,960 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Allegiance Bancshares by 39.0% in the second quarter. Nationwide Fund Advisors now owns 16,313 shares of the company’s stock worth $406,000 after buying an additional 4,574 shares during the last quarter. Finally, American International Group Inc. raised its stake in shares of Allegiance Bancshares by 341.2% in the second quarter. American International Group Inc. now owns 6,323 shares of the company’s stock worth $157,000 after buying an additional 4,890 shares during the last quarter. 28.39% of the stock is currently owned by institutional investors and hedge funds.
About Allegiance Bancshares
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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