Allegiance Bancshares, Inc. (ABTX) Posts Earnings Results
Allegiance Bancshares, Inc. (NASDAQ:ABTX) posted its earnings results on Tuesday. The bank reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.27), Bloomberg Earnings reports. Allegiance Bancshares had a return on equity of 7.90% and a net margin of 19.75%. The firm had revenue of $28.46 million for the quarter, compared to analysts’ expectations of $28.81 million. During the same quarter last year, the company posted $0.42 EPS. The firm’s revenue was up 14.3% on a year-over-year basis.
Shares of Allegiance Bancshares (NASDAQ:ABTX) opened at 39.00 on Wednesday. Allegiance Bancshares has a 1-year low of $25.16 and a 1-year high of $40.45. The stock has a market cap of $513.28 million, a P/E ratio of 22.81 and a beta of 2.41. The company has a 50 day moving average price of $36.47 and a 200 day moving average price of $37.55.
COPYRIGHT VIOLATION NOTICE: “Allegiance Bancshares, Inc. (ABTX) Posts Earnings Results” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.americanbankingnews.com/2017/10/24/allegiance-bancshares-inc-abtx-releases-quarterly-earnings-results-misses-estimates-by-0-29-eps.html.
In related news, insider Daryl D. Bohls sold 1,500 shares of Allegiance Bancshares stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $36.68, for a total transaction of $55,020.00. Following the transaction, the insider now directly owns 7,927 shares of the company’s stock, valued at $290,762.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas A. Reiser acquired 11,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of $36.53 per share, for a total transaction of $401,830.00. Following the completion of the acquisition, the director now owns 189,190 shares of the company’s stock, valued at $6,911,110.70. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 33,900 shares of company stock worth $1,208,983. 13.88% of the stock is currently owned by corporate insiders.
A number of research analysts have weighed in on ABTX shares. Stephens reiterated a “buy” rating and set a $42.00 target price on shares of Allegiance Bancshares in a report on Thursday, June 29th. BidaskClub downgraded Allegiance Bancshares from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Zacks Investment Research upgraded Allegiance Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, Keefe, Bruyette & Woods set a $42.00 price target on Allegiance Bancshares and gave the stock a “hold” rating in a research note on Monday, August 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $41.00.
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.
Receive News & Ratings for Allegiance Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiance Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.