Allegiance Bancshares Inc. (NASDAQ:ABTX) Given Average Recommendation of “Buy” by Brokerages
Shares of Allegiance Bancshares Inc. (NASDAQ:ABTX) have been given an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Analysts have set a twelve-month consensus price target of $27.00 for the company and are expecting that the company will post $0.42 earnings per share for the current quarter, according to Zacks. Zacks has also given Allegiance Bancshares an industry rank of 105 out of 265 based on the ratings given to its competitors.
Several research firms have commented on ABTX. Keefe, Bruyette & Woods increased their target price on shares of Allegiance Bancshares from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Thursday, July 28th. Zacks Investment Research downgraded shares of Allegiance Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th.
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In other news, insider Lawrence G. Fraser sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $26.18, for a total value of $52,360.00. Following the sale, the insider now directly owns 6,818 shares of the company’s stock, valued at $178,495.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 16.04% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Endeavour Capital Advisors Inc. increased its stake in shares of Allegiance Bancshares by 154.7% in the first quarter. Endeavour Capital Advisors Inc. now owns 484,827 shares of the company’s stock valued at $8,906,000 after buying an additional 294,451 shares in the last quarter. Callahan Advisors LLC boosted its stake in Allegiance Bancshares by 28.3% in the second quarter. Callahan Advisors LLC now owns 41,114 shares of the company’s stock valued at $1,023,000 after buying an additional 9,073 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Allegiance Bancshares by 20.0% in the first quarter. Goldman Sachs Group Inc. now owns 12,235 shares of the company’s stock valued at $225,000 after buying an additional 2,035 shares during the last quarter. State Street Corp boosted its stake in Allegiance Bancshares by 21.8% in the first quarter. State Street Corp now owns 28,500 shares of the company’s stock valued at $525,000 after buying an additional 5,100 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Allegiance Bancshares by 8.0% in the first quarter. Geode Capital Management LLC now owns 31,132 shares of the company’s stock valued at $571,000 after buying an additional 2,318 shares during the last quarter. 28.39% of the stock is currently owned by institutional investors.
Shares of Allegiance Bancshares (NASDAQ:ABTX) traded up 1.60% during mid-day trading on Tuesday, reaching $28.63. The company’s stock had a trading volume of 15,573 shares. The company has a 50 day moving average price of $26.25 and a 200 day moving average price of $23.11. The stock has a market capitalization of $368.61 million and a P/E ratio of 17.56. Allegiance Bancshares has a 12 month low of $14.38 and a 12 month high of $28.98.
Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Allegiance Bancshares had a return on equity of 8.04% and a net margin of 19.88%. On average, equities research analysts anticipate that Allegiance Bancshares will post $1.64 earnings per share for the current fiscal year.
Allegiance Bancshares Company Profile
Allegiance Bancshares, Inc is a holding company for Allegiance Bank (the Bank). The Bank provides a range of commercial banking services primarily to Houston metropolitan area-based small to medium-sized businesses and individual customers. The Bank is focused on delivering a range of commercial and community-oriented banking products and services.
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