Allegiance Bancshares Inc. (ABTX) Stock Rating Lowered by Robert W. Baird
Allegiance Bancshares Inc. (NASDAQ:ABTX) was downgraded by investment analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Wednesday. They currently have a $28.00 price target on the stock. Robert W. Baird’s target price points to a potential upside of 6.34% from the stock’s current price.
A number of other analysts also recently commented on ABTX. Zacks Investment Research downgraded Allegiance Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Keefe, Bruyette & Woods boosted their price objective on Allegiance Bancshares from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Thursday, July 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Allegiance Bancshares presently has an average rating of “Hold” and an average price target of $27.67.
Shares of Allegiance Bancshares (NASDAQ:ABTX) opened at 26.33 on Wednesday. Allegiance Bancshares has a 52 week low of $14.38 and a 52 week high of $28.98. The firm has a 50-day moving average price of $26.48 and a 200-day moving average price of $23.23. The firm has a market capitalization of $339.00 million and a price-to-earnings ratio of 16.15.
Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. Allegiance Bancshares had a return on equity of 8.04% and a net margin of 19.88%. On average, equities analysts expect that Allegiance Bancshares will post $1.64 earnings per share for the current fiscal year.
In other news, insider Lawrence G. Fraser sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $26.18, for a total transaction of $52,360.00. Following the sale, the insider now directly owns 6,818 shares of the company’s stock, valued at $178,495.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 16.04% of the company’s stock.
Several large investors have recently made changes to their positions in ABTX. RMB Capital Management LLC increased its position 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 in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Allegiance Bancshares by 43.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 17,805 shares of the company’s stock worth $327,000 after buying an additional 5,395 shares in the last quarter. State Street Corp increased its position in shares of Allegiance Bancshares by 21.8% in the first quarter. State Street Corp now owns 28,500 shares of the company’s stock worth $525,000 after buying an additional 5,100 shares in the last quarter. Goldman Sachs Group Inc. increased its position 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 in the last quarter. Finally, Geode Capital Management LLC increased its position 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 in the last quarter. 28.39% of the stock is currently 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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