BidaskClub downgraded shares of Allegiance Bancshares, Inc. (NASDAQ:ABTX) from a buy rating to a hold rating in a research report released on Tuesday.

A number of other brokerages have also weighed in on ABTX. Zacks Investment Research lowered shares of Allegiance Bancshares from a hold rating to a sell rating in a research report on Tuesday, June 13th. Keefe, Bruyette & Woods restated a hold rating and issued a $40.00 target price on shares of Allegiance Bancshares in a research report on Wednesday, April 26th. Finally, Stephens restated a buy rating and issued a $42.00 target price on shares of Allegiance Bancshares in a research report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $40.75.

Allegiance Bancshares (ABTX) traded down 1.45% on Tuesday, reaching $37.45. 16,409 shares of the company traded hands. The company has a market capitalization of $492.54 million, a PE ratio of 21.90 and a beta of 2.39. The stock has a 50-day moving average of $38.82 and a 200 day moving average of $37.15. Allegiance Bancshares has a 52-week low of $23.10 and a 52-week high of $40.45.

Allegiance Bancshares (NASDAQ:ABTX) last issued its earnings results on Tuesday, July 25th. The bank reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by $0.06. Allegiance Bancshares had a net margin of 19.75% and a return on equity of 8.01%. The company had revenue of $26.58 million during the quarter, compared to analyst estimates of $27.24 million. During the same quarter in the prior year, the business earned $0.36 EPS. On average, equities analysts forecast that Allegiance Bancshares will post $1.89 EPS for the current year.

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In related news, insider Ramon A. Vitulli III sold 1,431 shares of Allegiance Bancshares stock in a transaction on Friday, May 19th. The shares were sold at an average price of $38.10, for a total transaction of $54,521.10. Following the completion of the transaction, the insider now owns 6,877 shares of the company’s stock, valued at $262,013.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daryl D. Bohls sold 1,500 shares of Allegiance Bancshares stock in a transaction on Friday, June 9th. The stock was sold at an average price of $39.67, for a total transaction of $59,505.00. Following the transaction, the insider now directly owns 7,927 shares of the company’s stock, valued at approximately $314,464.09. The disclosure for this sale can be found here. Insiders have sold 6,400 shares of company stock valued at $249,320 in the last three months. 13.88% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Stephens Investment Management Group LLC purchased a new position in shares of Allegiance Bancshares during the first quarter worth $5,121,000. ACK Asset Management LLC purchased a new position in shares of Allegiance Bancshares during the first quarter worth $3,623,000. Wellington Management Group LLP purchased a new position in shares of Allegiance Bancshares during the first quarter worth $3,441,000. Vanguard Group Inc. increased its position in shares of Allegiance Bancshares by 14.6% in the first quarter. Vanguard Group Inc. now owns 434,296 shares of the bank’s stock worth $16,156,000 after buying an additional 55,342 shares in the last quarter. Finally, Royce & Associates LP purchased a new position in shares of Allegiance Bancshares during the first quarter worth $1,395,000. 35.27% of the stock is owned by institutional investors and hedge funds.

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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