Shares of Allegiance Bancshares, Inc. (NASDAQ:ABTX) have received an average recommendation of “Hold” from the eight analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $26.33.
Several brokerages have recently issued reports on ABTX. ValuEngine cut shares of Allegiance Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. BidaskClub upgraded shares of Allegiance Bancshares from a “strong sell” rating to a “sell” rating in a report on Friday. Piper Sandler reduced their target price on shares of Allegiance Bancshares from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday. Janney Montgomery Scott began coverage on shares of Allegiance Bancshares in a report on Friday. They set a “neutral” rating on the stock. Finally, Zacks Investment Research upgraded shares of Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Tuesday.
Shares of NASDAQ ABTX traded up $0.61 during trading on Monday, hitting $24.20. 42,897 shares of the company traded hands, compared to its average volume of 61,258. Allegiance Bancshares has a 1 year low of $20.88 and a 1 year high of $38.95. The company has a 50-day moving average price of $24.87 and a 200-day moving average price of $24.57. The firm has a market capitalization of $494.41 million, a P/E ratio of 12.80 and a beta of 1.28. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35.
Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings data on Thursday, July 30th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.24. Allegiance Bancshares had a net margin of 16.08% and a return on equity of 5.52%. The company had revenue of $52.41 million during the quarter, compared to analysts’ expectations of $50.27 million. Research analysts predict that Allegiance Bancshares will post 1.72 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.65%. Allegiance Bancshares’s dividend payout ratio is currently 15.56%.
In other Allegiance Bancshares news, Director Roland L. Williams sold 6,559 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $25.85, for a total value of $169,550.15. Following the transaction, the director now owns 139,386 shares in the company, valued at approximately $3,603,128.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roland L. Williams sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $25.26, for a total transaction of $75,780.00. Following the completion of the transaction, the director now owns 130,027 shares in the company, valued at approximately $3,284,482.02. The disclosure for this sale can be found here. Insiders sold a total of 12,559 shares of company stock worth $312,230 in the last quarter. 8.57% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of Allegiance Bancshares by 6.8% in the 1st quarter. Geode Capital Management LLC now owns 285,306 shares of the bank’s stock valued at $6,878,000 after purchasing an additional 18,285 shares in the last quarter. UBS Group AG raised its stake in shares of Allegiance Bancshares by 36.9% in the 1st quarter. UBS Group AG now owns 12,414 shares of the bank’s stock valued at $299,000 after purchasing an additional 3,349 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Allegiance Bancshares by 48.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,633 shares of the bank’s stock valued at $232,000 after purchasing an additional 3,142 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Allegiance Bancshares by 20.4% in the 2nd quarter. First Trust Advisors LP now owns 12,166 shares of the bank’s stock valued at $309,000 after purchasing an additional 2,062 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Allegiance Bancshares by 0.9% in the 1st quarter. State Street Corp now owns 712,600 shares of the bank’s stock valued at $17,181,000 after purchasing an additional 6,200 shares in the last quarter. Hedge funds and other institutional investors own 44.95% of the company’s stock.
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, and savings accounts, as well as other time deposits comprising money market accounts and certificates of deposit.
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