Shares of Allegiance Bancshares Inc. (NASDAQ:ABTX) have been assigned an average broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating. Allegiance Bancshares’ rating score has declined by 50% from 90 days ago as a result of a number of analysts’ ratings changes.
Brokers have set a twelve-month consensus target price of $27.50 for the company and are expecting that the company will post $0.44 EPS for the current quarter, according to Zacks. Zacks has also given Allegiance Bancshares an industry rank of 75 out of 265 based on the ratings given to related companies.
A number of equities research analysts have weighed in on the company. Zacks Investment Research cut Allegiance Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Robert W. Baird cut Allegiance Bancshares from an “outperform” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research note on Wednesday, September 21st.
Shares of Allegiance Bancshares (NASDAQ:ABTX) opened at 31.15 on Monday. The company has a 50-day moving average of $28.13 and a 200-day moving average of $25.91. The firm has a market cap of $401.99 million and a PE ratio of 18.90. Allegiance Bancshares has a 1-year low of $14.38 and a 1-year high of $33.75.
Allegiance Bancshares (NASDAQ:ABTX) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $0.42 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.42. Allegiance Bancshares had a return on equity of 7.87% and a net margin of 20.36%. Analysts predict that Allegiance Bancshares will post $1.65 earnings per share for the current fiscal year.
In other news, Director David B. Moulton sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $31.09, for a total transaction of $155,450.00. Following the completion of the sale, the director now owns 25,733 shares in the company, valued at $800,038.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Reiser purchased 8,000 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were bought at an average price of $31.47 per share, with a total value of $251,760.00. Following the purchase, the director now directly owns 166,316 shares of the company’s stock, valued at $5,233,964.52. The disclosure for this purchase can be found here. Insiders own 16.04% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ABTX. American International Group Inc. boosted its stake in Allegiance Bancshares by 341.2% in the second quarter. American International Group Inc. now owns 6,323 shares of the company’s stock valued at $157,000 after buying an additional 4,890 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Allegiance Bancshares by 405.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 89,991 shares of the company’s stock valued at $2,239,000 after buying an additional 72,186 shares during the period. BlackRock Fund Advisors boosted its stake in 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. BlackRock Investment Management LLC boosted its stake in Allegiance Bancshares by 363.1% in the second quarter. BlackRock Investment Management LLC now owns 45,537 shares of the company’s stock valued at $1,133,000 after buying an additional 35,703 shares during the period. Finally, Vanguard Group Inc. boosted its stake in 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. Institutional investors and hedge funds own 30.38% of the company’s stock.
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.