Allegiance Bancshares (NASDAQ:ABTX)’s share price hit a new 52-week high and low during mid-day trading on Friday . The company traded as low as $42.80 and last traded at $41.40, with a volume of 51295 shares. The stock had previously closed at $40.75.
A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Allegiance Bancshares from a “hold” rating to a “sell” rating in a research report on Monday. BidaskClub downgraded Allegiance Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, April 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Allegiance Bancshares presently has a consensus rating of “Hold” and an average target price of $43.33.
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The stock has a market capitalization of $546.66, a PE ratio of 25.92 and a beta of 1.91.
Allegiance Bancshares (NASDAQ:ABTX) last issued its quarterly earnings results on Thursday, April 26th. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. The company had revenue of $28.54 million for the quarter, compared to the consensus estimate of $29.65 million. Allegiance Bancshares had a return on equity of 7.60% and a net margin of 14.79%. sell-side analysts expect that Allegiance Bancshares will post 2.51 earnings per share for the current year.
In other Allegiance Bancshares news, insider Daryl D. Bohls sold 1,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $38.53, for a total transaction of $57,795.00. Following the transaction, the insider now owns 7,927 shares in the company, valued at $305,427.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Michael Mann sold 11,250 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $40.10, for a total value of $451,125.00. Following the transaction, the director now directly owns 42,752 shares of the company’s stock, valued at approximately $1,714,355.20. The disclosure for this sale can be found here. Insiders have sold 40,750 shares of company stock worth $1,589,515 in the last quarter. 12.74% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in shares of Allegiance Bancshares by 10.7% during the first quarter. Wells Fargo & Company MN now owns 17,677 shares of the bank’s stock valued at $692,000 after acquiring an additional 1,711 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of Allegiance Bancshares during the fourth quarter valued at approximately $219,000. STA Wealth Management LLC acquired a new position in shares of Allegiance Bancshares during the fourth quarter valued at approximately $1,007,000. Two Sigma Investments LP acquired a new position in shares of Allegiance Bancshares during the fourth quarter valued at approximately $319,000. Finally, Deutsche Bank AG raised its holdings in shares of Allegiance Bancshares by 11.6% during the fourth quarter. Deutsche Bank AG now owns 58,375 shares of the bank’s stock valued at $2,195,000 after acquiring an additional 6,061 shares during the last quarter. 42.62% of the stock is owned by institutional investors and hedge funds.
About Allegiance Bancshares
Allegiance Bancshares, Inc operates as the bank holding company for Allegiance Bank that provides a range of commercial banking services primarily to small and medium-sized businesses, professionals, and individual customers. It accepts deposit products, including checking accounts, commercial accounts, savings accounts, and other time deposits comprising money market accounts and certificates of deposit.