Somewhat Critical Media Coverage Somewhat Unlikely to Affect Allegiance Bancshares (ABTX) Stock Price
News headlines about Allegiance Bancshares (NASDAQ:ABTX) have trended somewhat negative recently, Accern reports. Accern rates the sentiment of media coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Allegiance Bancshares earned a news impact score of -0.06 on Accern’s scale. Accern also assigned press coverage about the bank an impact score of 44.3892366668781 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
A number of research analysts recently weighed in on the company. BidaskClub raised Allegiance Bancshares from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Zacks Investment Research lowered Allegiance Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $43.33.
Shares of Allegiance Bancshares (NASDAQ ABTX) traded down $0.30 during midday trading on Friday, reaching $39.10. The company’s stock had a trading volume of 10,755 shares, compared to its average volume of 29,185. Allegiance Bancshares has a 52-week low of $31.75 and a 52-week high of $42.60. The firm has a market cap of $536.70, a price-to-earnings ratio of 29.66 and a beta of 2.08.
In other news, Director Paul Michael Mann sold 11,250 shares of the company’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $40.10, for a total transaction of $451,125.00. Following the completion of the sale, the director now directly owns 42,752 shares in the company, valued at approximately $1,714,355.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas A. Reiser sold 25,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $38.38, for a total value of $959,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,177 shares of company stock valued at $2,250,008. Corporate insiders own 13.88% 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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