Shares of Allegiance Bancshares Inc. (NASDAQ:ABTX) were down 5.9% on Wednesday . The stock traded as low as $26.18 and last traded at $26.76, with a volume of 70,994 shares changing hands. The stock had previously closed at $28.45.

Several analysts recently weighed in on ABTX shares. Keefe, Bruyette & Woods lifted their price target on shares of Allegiance Bancshares from $25.00 to $26.00 and gave the company a “market perform” rating in a report on Thursday, July 28th. Zacks Investment Research cut shares of Allegiance Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Finally, Robert W. Baird cut shares of Allegiance Bancshares from an “outperform” rating to a “neutral” rating and set a $28.00 price target on the stock. in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Allegiance Bancshares currently has an average rating of “Hold” and an average target price of $27.67.

The firm has a market cap of $344.54 million and a PE ratio of 16.42. The company’s 50 day moving average price is $26.42 and its 200 day moving average price is $23.21.

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Allegiance Bancshares (NASDAQ:ABTX) last issued 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 analysts forecast that Allegiance Bancshares Inc. will post $1.64 earnings per share for the current year.

In other news, insider Lawrence G. Fraser sold 2,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 6,818 shares of the company’s stock, valued at approximately $178,495.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.04% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ABTX. RMB Capital Management LLC raised its stake 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. raised its stake 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 raised 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. Goldman Sachs Group Inc. raised 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. Finally, Geode Capital Management LLC raised 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. Institutional investors own 28.39% 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.

5 Day Chart for NASDAQ:ABTX

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