Allegiance Bancshares, Inc. (NASDAQ:ABTX) Insider Sells $58,755.00 in Stock
Allegiance Bancshares, Inc. (NASDAQ:ABTX) insider Daryl D. Bohls sold 1,500 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $39.17, for a total transaction of $58,755.00. Following the sale, the insider now directly owns 7,927 shares of the company’s stock, valued at approximately $310,500.59. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Allegiance Bancshares, Inc. (NASDAQ:ABTX) traded down 2.78% during mid-day trading on Tuesday, reaching $38.40. 15,412 shares of the company traded hands. The stock’s 50-day moving average is $38.56 and its 200-day moving average is $36.65. The company has a market capitalization of $503.00 million, a P/E ratio of 22.44 and a beta of 2.39. Allegiance Bancshares, Inc. has a 52 week low of $23.10 and a 52 week high of $40.45.
Allegiance Bancshares (NASDAQ:ABTX) last issued its quarterly earnings results on Tuesday, April 25th. The bank reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $25.47 million during the quarter, compared to the consensus estimate of $25.25 million. Allegiance Bancshares had a net margin of 20.47% and a return on equity of 8.01%. During the same period in the previous year, the firm posted $0.49 earnings per share. On average, equities analysts predict that Allegiance Bancshares, Inc. will post $1.96 EPS for the current fiscal year.
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Several analysts recently issued reports on ABTX shares. Zacks Investment Research cut shares of Allegiance Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, April 27th. Stephens reaffirmed a “buy” rating on shares of Allegiance Bancshares in a research note on Tuesday, April 25th. Keefe, Bruyette & Woods set a $38.00 price objective on shares of Allegiance Bancshares and gave the company a “hold” rating in a research note on Tuesday, April 4th. Finally, BidaskClub raised shares of Allegiance Bancshares from a “hold” rating to a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Allegiance Bancshares presently has a consensus rating of “Buy” and a consensus price target of $40.75.
Large investors have recently modified their holdings of the company. Bank of America Corp DE increased its stake in shares of Allegiance Bancshares by 4.7% in the first quarter. Bank of America Corp DE now owns 5,351 shares of the bank’s stock worth $199,000 after buying an additional 241 shares during the period. RMB Capital Management LLC purchased a new stake in shares of Allegiance Bancshares during the first quarter worth approximately $897,000. Mendon Capital Advisors Corp purchased a new stake in shares of Allegiance Bancshares during the first quarter worth approximately $897,000. Dimensional Fund Advisors LP increased its stake in shares of Allegiance Bancshares by 600.6% in the first quarter. Dimensional Fund Advisors LP now owns 42,244 shares of the bank’s stock worth $1,571,000 after buying an additional 36,214 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Allegiance Bancshares by 5.2% in the first quarter. Geode Capital Management LLC now owns 93,873 shares of the bank’s stock worth $3,492,000 after buying an additional 4,668 shares during the period. Institutional investors and hedge funds own 35.29% of the company’s stock.
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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