Allegiance Bancshares Inc. (NASDAQ:ABTX) has received an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating. Allegiance Bancshares’ rating score has declined by 50% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a 12 month consensus price objective of $27.00 for the company and are expecting that the company will post $0.42 EPS for the current quarter, according to Zacks. Zacks has also assigned Allegiance Bancshares an industry rank of 105 out of 265 based on the ratings given to related companies.
Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Thursday, July 28th. Keefe, Bruyette & Woods increased their target price on shares of Allegiance Bancshares from $25.00 to $26.00 and gave the company a “market perform” rating in a report on Thursday, July 28th. Finally, Robert W. Baird lowered shares of Allegiance Bancshares from an “outperform” rating to a “neutral” rating and set a $28.00 target price on the stock. in a report on Wednesday, September 21st.
Allegiance Bancshares (NASDAQ:ABTX) opened at 27.73 on Monday. Allegiance Bancshares has a one year low of $14.38 and a one year high of $28.98. The firm has a market cap of $357.02 million and a price-to-earnings ratio of 17.01. The stock’s 50 day moving average is $27.06 and its 200 day moving average is $24.11.
Allegiance Bancshares (NASDAQ:ABTX) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.40 earnings per share 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%. On average, analysts predict that Allegiance Bancshares will post $1.64 earnings per share for the current fiscal 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. Corporate insiders own 16.04% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. 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 period. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Allegiance Bancshares during the second quarter worth about $215,000. TFS Capital LLC purchased a new stake in shares of Allegiance Bancshares during the second quarter worth about $298,000. Spark Investment Management LLC purchased a new stake in shares of Allegiance Bancshares during the second quarter worth about $311,000. Finally, Oxford Asset Management purchased a new stake in shares of Allegiance Bancshares during the second quarter worth about $375,000. 28.39% of the stock is currently owned by institutional investors and hedge funds.
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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