According to Zacks, “Allegiance Bancshares, Inc. operates as a bank holding company. The Company offers banking products and services primarily to small and medium-sized businesses and individual customers, through its subsidiaries. It offers checking accounts, savings accounts, certificates of deposit, bank-by-mail, cashier’s checks, travelers checks, gift cards, savings bonds, personal loans, automobile loans, commercial loans, mortgage loans, home improvement loans, online banking services, safe deposit boxes and automated teller machines. Allegiance Bancshares, Inc. is headquartered in Houston, Texas. “
Other research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods upped their price objective on shares of Allegiance Bancshares from $25.00 to $26.00 and gave the company a market perform rating in a research note on Thursday, July 28th. Robert W. Baird downgraded shares of Allegiance Bancshares from an outperform rating to a neutral rating and set a $28.00 target price for the company. in a research report on Wednesday, September 21st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $27.67.
Allegiance Bancshares (NASDAQ:ABTX) traded up 0.45% on Tuesday, hitting $26.78. 692 shares of the stock traded hands. The firm’s 50-day moving average price is $26.58 and its 200-day moving average price is $23.48. The stock has a market cap of $344.79 million and a price-to-earnings ratio of 16.43. Allegiance Bancshares has a 12-month low of $14.38 and a 12-month high of $28.98.
Allegiance Bancshares (NASDAQ:ABTX) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.40 EPS for the quarter, beating the Zacks’ 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%. On average, equities research analysts anticipate that Allegiance Bancshares will post $1.64 EPS for the current fiscal year.
In related news, insider Lawrence G. Fraser sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $26.18, for a total transaction of $52,360.00. Following the completion of the sale, the insider now owns 6,818 shares of the company’s stock, valued at approximately $178,495.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 16.04% of the company’s stock.
A number of hedge funds have recently modified their holdings of ABTX. Endeavour Capital Advisors Inc. increased its stake in shares of Allegiance Bancshares by 154.7% in the first quarter. Endeavour Capital Advisors Inc. now owns 484,827 shares of the company’s stock valued at $8,906,000 after buying an additional 294,451 shares during the period. BlackRock Fund Advisors increased its stake in shares of Allegiance Bancshares by 254.9% in the second quarter. BlackRock Fund Advisors now owns 282,452 shares of the company’s stock valued at $7,027,000 after buying an additional 202,875 shares during the period. Vanguard Group Inc. increased its stake in shares of Allegiance Bancshares by 215.7% in the second quarter. Vanguard Group Inc. now owns 205,451 shares of the company’s stock valued at $5,112,000 after buying an additional 140,380 shares during the period. State Street Corp increased its stake in shares of Allegiance Bancshares by 394.3% in the second quarter. State Street Corp now owns 140,874 shares of the company’s stock valued at $3,505,000 after buying an additional 112,374 shares during the period. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC increased its stake in shares of Allegiance Bancshares by 99.6% in the second quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 191,743 shares of the company’s stock valued at $4,770,000 after buying an additional 95,700 shares during the period. 28.39% of the stock is owned by institutional investors.
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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