Brokerages Set $27.00 Price Target for Allegiance Bancshares Inc. (NASDAQ:ABTX)
Allegiance Bancshares Inc. (NASDAQ:ABTX) has been assigned a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation. Allegiance Bancshares’ rating score has declined by 50% in the last 90 days as a result of various analysts’ upgrades and downgrades.
Analysts have set a 12 month consensus price target of $27.00 for the company and are anticipating that the company will post $0.42 EPS for the current quarter, according to Zacks. Zacks has also given Allegiance Bancshares an industry rank of 110 out of 265 based on the ratings given to related companies.
Several brokerages recently commented on ABTX. Zacks Investment Research raised shares of Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Thursday, July 28th. Keefe, Bruyette & Woods boosted their price target on shares of Allegiance Bancshares from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Thursday, July 28th. Finally, Robert W. Baird lowered shares of Allegiance Bancshares from an “outperform” rating to a “neutral” rating and set a $28.00 price target for the company. in a report on Wednesday, September 21st.
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In related news, insider Lawrence G. Fraser sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $26.18, for a total value of $52,360.00. Following the completion of the sale, the insider now 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 SEC, which is available through this hyperlink. 16.04% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Foundry Partners LLC raised its stake in Allegiance Bancshares by 1.2% in the third quarter. Foundry Partners LLC now owns 50,370 shares of the company’s stock worth $1,360,000 after buying an additional 595 shares during the last quarter. 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 worth $571,000 after buying an additional 2,318 shares during the last quarter. Nationwide Fund Advisors raised its stake in Allegiance Bancshares by 39.0% in the second quarter. Nationwide Fund Advisors now owns 16,313 shares of the company’s stock worth $406,000 after buying an additional 4,574 shares during the last quarter. American International Group Inc. raised its stake in Allegiance Bancshares by 341.2% in the second quarter. American International Group Inc. now owns 6,323 shares of the company’s stock worth $157,000 after buying an additional 4,890 shares during the last quarter. Finally, 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 worth $525,000 after buying an additional 5,100 shares during the last quarter. 28.39% of the stock is owned by institutional investors and hedge funds.
Allegiance Bancshares (NASDAQ:ABTX) traded up 1.72% during trading on Monday, reaching $27.73. 6,345 shares of the company’s stock traded hands. Allegiance Bancshares has a one year low of $14.38 and a one year high of $28.98. The company has a 50-day moving average price of $26.91 and a 200 day moving average price of $23.91. The firm has a market capitalization of $357.02 million and a PE ratio of 17.01.
Allegiance Bancshares (NASDAQ:ABTX) last posted its earnings results on Tuesday, July 26th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. Allegiance Bancshares had a net margin of 19.88% and a return on equity of 8.04%. On average, 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 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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