Allegiance Bancshares, Inc. (NASDAQ:ABTX) has been assigned a $42.00 target price by equities researchers at Keefe, Bruyette & Woods in a report issued on Monday. The brokerage presently has a “hold” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 26.51% from the company’s previous close.

ABTX has been the topic of several other reports. Zacks Investment Research upgraded Allegiance Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 27th. BidaskClub upgraded Allegiance Bancshares from a “hold” rating to a “buy” rating in a report on Friday, July 7th. Finally, Stephens restated a “buy” rating and set a $42.00 price target on shares of Allegiance Bancshares in a report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Allegiance Bancshares currently has a consensus rating of “Hold” and an average price target of $41.25.

Shares of Allegiance Bancshares (NASDAQ:ABTX) opened at 33.20 on Monday. Allegiance Bancshares has a 52-week low of $25.16 and a 52-week high of $40.45. The firm’s 50 day moving average is $37.55 and its 200-day moving average is $37.55. The company has a market capitalization of $436.95 million, a P/E ratio of 19.42 and a beta of 2.32.

Allegiance Bancshares (NASDAQ:ABTX) last released 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 firm had revenue of $26.58 million for the quarter, compared to the consensus estimate 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 last year, the firm posted $0.36 earnings per share. Equities research analysts anticipate that Allegiance Bancshares will post $1.89 earnings per share for the current fiscal year.

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In related news, insider Daryl D. Bohls sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $39.67, for a total value of $59,505.00. Following the sale, the insider now directly owns 7,927 shares in the company, valued at $314,464.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Umesh Jain sold 5,088 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $35.33, for a total value of $179,759.04. Following the completion of the sale, the director now owns 132,275 shares in the company, valued at $4,673,275.75. The disclosure for this sale can be found here. Insiders sold 33,900 shares of company stock worth $1,221,883 over the last quarter. 13.88% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in ABTX. Bank of Montreal Can bought a new stake in shares of Allegiance Bancshares during the first quarter valued at approximately $182,000. Bank of America Corp DE boosted its stake 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 during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Allegiance Bancshares during the fourth quarter valued at approximately $233,000. California Public Employees Retirement System bought a new stake in shares of Allegiance Bancshares during the first quarter valued at approximately $234,000. Finally, Parametric Portfolio Associates LLC bought a new stake in shares of Allegiance Bancshares during the second quarter valued at approximately $239,000. Institutional investors and hedge funds own 39.73% of the company’s stock.

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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