Allegiance Bancshares (NASDAQ:ABTX) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

ABTX has been the topic of a number of other research reports. Raymond James downgraded shares of Allegiance Bancshares from an “outperform” rating to a “market perform” rating in a research note on Monday, October 28th. Zacks Investment Research raised shares of Allegiance Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, BidaskClub raised shares of Allegiance Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, November 25th. Six research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $37.82.

Allegiance Bancshares stock opened at $35.59 on Tuesday. The company has a market cap of $746.66 million, a price-to-earnings ratio of 14.12 and a beta of 1.41. The firm’s fifty day moving average is $34.87 and its 200 day moving average is $33.59. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. Allegiance Bancshares has a 52-week low of $28.58 and a 52-week high of $38.95.

Allegiance Bancshares (NASDAQ:ABTX) last released its quarterly earnings results on Friday, October 25th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.12). The business had revenue of $47.73 million for the quarter, compared to analysts’ expectations of $49.00 million. Allegiance Bancshares had a net margin of 21.42% and a return on equity of 7.65%. On average, equities research analysts anticipate that Allegiance Bancshares will post 2.5 earnings per share for the current fiscal year.

In other news, Director William S. Nichols III sold 1,168 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $35.11, for a total value of $41,008.48. Following the sale, the director now owns 2,900 shares of the company’s stock, valued at $101,819. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Roland L. Williams sold 8,000 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $32.90, for a total transaction of $263,200.00. Following the completion of the sale, the director now directly owns 186,468 shares in the company, valued at approximately $6,134,797.20. The disclosure for this sale can be found here. In the last three months, insiders sold 38,368 shares of company stock worth $1,325,184. Insiders own 10.17% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Aperio Group LLC purchased a new stake in shares of Allegiance Bancshares in the second quarter valued at $55,000. Sunbelt Securities Inc. purchased a new stake in shares of Allegiance Bancshares in the third quarter valued at $385,000. Banc Funds Co. LLC raised its stake in shares of Allegiance Bancshares by 25.6% in the second quarter. Banc Funds Co. LLC now owns 408,758 shares of the bank’s stock valued at $13,628,000 after acquiring an additional 83,226 shares during the period. Context BH Capital Management LP raised its stake in shares of Allegiance Bancshares by 812.3% in the second quarter. Context BH Capital Management LP now owns 83,150 shares of the bank’s stock valued at $2,772,000 after acquiring an additional 74,036 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Allegiance Bancshares by 58.3% in the second quarter. BlackRock Inc. now owns 1,077,495 shares of the bank’s stock valued at $35,924,000 after acquiring an additional 396,835 shares during the period. 36.07% of the stock is currently owned by institutional investors and hedge funds.

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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