Allegiance Bancshares Inc. (NASDAQ:ABTX) was downgraded by equities researchers at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday. They currently have a $28.00 target price on the stock. Robert W. Baird’s price target indicates a potential downside of 1.58% from the stock’s previous close.

Several other equities research analysts have also issued reports on ABTX. Zacks Investment Research raised Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Thursday, July 28th. Keefe, Bruyette & Woods raised their target price on Allegiance Bancshares from $25.00 to $26.00 and gave the company a “market perform” rating in a research report on Thursday, July 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $27.67.

Allegiance Bancshares (NASDAQ:ABTX) opened at 28.45 on Wednesday. The firm has a market cap of $366.29 million and a P/E ratio of 17.45. The company has a 50-day moving average price of $26.35 and a 200-day moving average price of $23.18. Allegiance Bancshares has a 1-year low of $14.38 and a 1-year high of $28.98.

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Allegiance Bancshares (NASDAQ:ABTX) last announced its earnings results on Tuesday, July 26th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the 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 forecast that Allegiance Bancshares will post $1.64 EPS for the current fiscal year.

In other news, insider Lawrence G. Fraser sold 2,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $26.18, for a total transaction of $52,360.00. Following the completion of the transaction, the insider now owns 6,818 shares in the company, valued at approximately $178,495.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.04% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ABTX. RMB Capital Management LLC increased its position in Allegiance Bancshares by 4.6% in the first quarter. RMB Capital Management LLC now owns 90,695 shares of the company’s stock valued at $1,666,000 after buying an additional 3,960 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Allegiance Bancshares by 43.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 17,805 shares of the company’s stock valued at $327,000 after buying an additional 5,395 shares during the last quarter. State Street Corp increased its position 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. Goldman Sachs Group Inc. increased its position 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. Finally, Geode Capital Management LLC increased its position 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. Institutional investors own 28.39% of the company’s stock.

About Allegiance Bancshares

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.

5 Day Chart for NASDAQ:ABTX

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