Allegiance Bancshares Inc. (ABTX) Given Consensus Rating of “Hold” by Brokerages
Allegiance Bancshares Inc. (NASDAQ:ABTX) has received a consensus broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating. Allegiance Bancshares’ rating score has declined by 50% in the last 90 days as a result of a number of analysts’ ratings changes.
Brokers have set a 12-month consensus price objective of $27.00 for the company and are forecasting that the company will post $0.42 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Allegiance Bancshares an industry rank of 162 out of 265 based on the ratings given to its competitors.
Several equities analysts have recently weighed in on ABTX shares. Robert W. Baird cut shares of Allegiance Bancshares from an “outperform” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Wednesday, September 21st. Zacks Investment Research downgraded Allegiance Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Finally, Keefe, Bruyette & Woods increased their price objective on Allegiance Bancshares from $25.00 to $26.00 and gave the company a “market perform” rating in a report on Thursday, July 28th.
In other news, insider Lawrence G. Fraser sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $26.18, for a total value 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 legal filing with the SEC, which is available at this link. 16.04% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in ABTX. Callahan Advisors LLC increased its stake in Allegiance Bancshares by 28.3% in the second quarter. Callahan Advisors LLC now owns 41,114 shares of the company’s stock valued at $1,023,000 after buying an additional 9,073 shares during the last quarter. 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 in the last quarter. State Street Corp increased its stake 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 valued at $525,000 after buying an additional 5,100 shares in the last quarter. Oxford Asset Management acquired a new stake in shares of Allegiance Bancshares during the second quarter valued at about $375,000. Finally, Geode Capital Management LLC increased 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 valued at $571,000 after buying an additional 2,318 shares in the last quarter. 28.39% of the stock is owned by institutional investors.
Shares of Allegiance Bancshares (NASDAQ:ABTX) opened at 26.81 on Monday. The firm has a 50-day moving average of $27.11 and a 200 day moving average of $24.20. Allegiance Bancshares has a one year low of $14.38 and a one year high of $28.98. The company has a market cap of $345.18 million and a price-to-earnings ratio of 16.45.
Allegiance Bancshares (NASDAQ:ABTX) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.40 earnings per share for the quarter, topping the 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%. Equities research analysts anticipate that Allegiance Bancshares will post $1.64 EPS for the current year.
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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