Allegiance Bancshares Inc (ABTX) Expected to Announce Earnings of $0.64 Per Share
Equities research analysts expect that Allegiance Bancshares Inc (NASDAQ:ABTX) will post earnings of $0.64 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Allegiance Bancshares’ earnings, with the highest EPS estimate coming in at $0.65 and the lowest estimate coming in at $0.63. Allegiance Bancshares reported earnings per share of $0.22 in the same quarter last year, which would suggest a positive year over year growth rate of 190.9%. The business is scheduled to issue its next quarterly earnings results before the market opens on Thursday, October 25th.
According to Zacks, analysts expect that Allegiance Bancshares will report full-year earnings of $2.54 per share for the current fiscal year, with EPS estimates ranging from $2.51 to $2.57. For the next year, analysts anticipate that the business will post earnings of $3.15 per share, with EPS estimates ranging from $3.14 to $3.16. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Allegiance Bancshares.
Allegiance Bancshares (NASDAQ:ABTX) last issued its quarterly earnings results on Thursday, July 26th. The bank reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.06. The business had revenue of $29.62 million for the quarter, compared to analysts’ expectations of $30.06 million. Allegiance Bancshares had a net margin of 15.77% and a return on equity of 8.66%.
In related news, Director Paul Michael Mann sold 5,889 shares of Allegiance Bancshares stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $45.09, for a total transaction of $265,535.01. Following the transaction, the director now owns 35,020 shares in the company, valued at approximately $1,579,051.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Fred S. Robertson bought 2,250 shares of the stock in a transaction that occurred on Thursday, August 9th. The shares were purchased at an average price of $44.47 per share, for a total transaction of $100,057.50. Following the purchase, the director now owns 4,606 shares in the company, valued at approximately $204,828.82. The disclosure for this purchase can be found here. Insiders have sold a total of 16,924 shares of company stock worth $763,828 in the last quarter. Corporate insiders own 12.74% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sheets Smith Wealth Management purchased a new position in shares of Allegiance Bancshares during the 3rd quarter valued at $245,000. Northern Trust Corp lifted its stake in shares of Allegiance Bancshares by 4.0% during the 2nd quarter. Northern Trust Corp now owns 142,573 shares of the bank’s stock valued at $6,181,000 after buying an additional 5,457 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Allegiance Bancshares by 3.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,654 shares of the bank’s stock valued at $2,413,000 after buying an additional 2,084 shares in the last quarter. Stephens Investment Management Group LLC lifted its stake in shares of Allegiance Bancshares by 20.8% during the 2nd quarter. Stephens Investment Management Group LLC now owns 178,090 shares of the bank’s stock valued at $7,765,000 after buying an additional 30,712 shares in the last quarter. Finally, Teton Advisors Inc. lifted its stake in shares of Allegiance Bancshares by 5.0% during the 2nd quarter. Teton Advisors Inc. now owns 71,200 shares of the bank’s stock valued at $3,087,000 after buying an additional 3,400 shares in the last quarter. Institutional investors own 45.97% of the company’s stock.
Shares of Allegiance Bancshares stock opened at $40.12 on Friday. The firm has a market cap of $534.70 million, a PE ratio of 25.39 and a beta of 1.83. Allegiance Bancshares has a 1-year low of $36.10 and a 1-year high of $46.85. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.08 and a current ratio of 1.08.
Allegiance Bancshares Company Profile
Allegiance Bancshares, Inc operates as the bank holding company for Allegiance Bank that provides a range of commercial banking services primarily to small and medium-sized businesses, professionals, and individual customers. It accepts deposit products, including checking accounts, commercial accounts, savings accounts, and other time deposits comprising money market accounts and certificates of deposit.
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