Insider Selling: Allegiance Bancshares, Inc. (ABTX) Insider Sells 1,500 Shares of Stock
Allegiance Bancshares, Inc. (NASDAQ:ABTX) insider Daryl D. Bohls sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $36.68, for a total value of $55,020.00. Following the completion of the transaction, the insider now owns 7,927 shares in the company, valued at approximately $290,762.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Allegiance Bancshares, Inc. (NASDAQ:ABTX) traded down 1.50% during trading on Thursday, reaching $36.10. The company had a trading volume of 73,761 shares. The firm’s 50 day moving average price is $38.29 and its 200 day moving average price is $37.34. The firm has a market capitalization of $475.11 million, a PE ratio of 21.11 and a beta of 2.32. Allegiance Bancshares, Inc. has a 12-month low of $24.58 and a 12-month high of $40.45.
Allegiance Bancshares (NASDAQ:ABTX) last issued its quarterly earnings results on Tuesday, July 25th. The bank reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.06. The business had revenue of $26.58 million for the quarter, compared to analysts’ expectations of $27.24 million. Allegiance Bancshares had a return on equity of 7.90% and a net margin of 19.75%. During the same quarter in the prior year, the business earned $0.36 EPS. Equities research analysts forecast that Allegiance Bancshares, Inc. will post $1.89 EPS for the current year.
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Several equities analysts recently commented on ABTX shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $40.00 price objective on shares of Allegiance Bancshares in a research note on Wednesday, April 26th. Stephens reiterated a “buy” rating and issued a $42.00 price objective on shares of Allegiance Bancshares in a research note on Thursday, June 29th. Zacks Investment Research downgraded Allegiance Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, BidaskClub downgraded Allegiance Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Allegiance Bancshares has a consensus rating of “Hold” and a consensus target price of $40.75.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of Allegiance Bancshares during the first quarter valued at $182,000. Bank of America Corp DE boosted its position in shares of Allegiance Bancshares by 4.7% in the first quarter. Bank of America Corp DE now owns 5,351 shares of the bank’s stock valued at $199,000 after buying an additional 241 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Allegiance Bancshares during the fourth quarter valued at $203,000. Renaissance Technologies LLC acquired a new position in shares of Allegiance Bancshares during the fourth quarter valued at $233,000. Finally, California Public Employees Retirement System acquired a new position in shares of Allegiance Bancshares during the first quarter valued at $234,000. Institutional investors and hedge funds own 35.36% 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.
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