Allegiance Bancshares, Inc. (ABTX) Downgraded by BidaskClub to Hold
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.
WARNING: “Allegiance Bancshares, Inc. (ABTX) Downgraded by BidaskClub to Hold” was first posted by Watch List News and is owned by of Watch List News. If you are reading this piece on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece can be viewed at https://www.watchlistnews.com/allegiance-bancshares-inc-abtx-downgraded-by-bidaskclub-to-hold/1461372.html.
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.
Receive News & Ratings for Allegiance Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiance Bancshares Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.