Callahan Advisors LLC lowered its position in Allegiance Bancshares, Inc. (NASDAQ:ABTX) by 16.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,618 shares of the bank’s stock after selling 9,820 shares during the period. Callahan Advisors LLC owned about 0.38% of Allegiance Bancshares worth $1,863,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wells Fargo & Company MN grew its holdings in shares of Allegiance Bancshares by 1.8% in the second quarter. Wells Fargo & Company MN now owns 7,167 shares of the bank’s stock worth $275,000 after acquiring an additional 129 shares during the period. Context BH Capital Management LP grew its holdings in shares of Allegiance Bancshares by 1.0% in the second quarter. Context BH Capital Management LP now owns 14,204 shares of the bank’s stock worth $544,000 after acquiring an additional 140 shares during the period. Bank of America Corp DE grew its holdings 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 acquiring an additional 241 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Allegiance Bancshares by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 9,621 shares of the bank’s stock worth $368,000 after acquiring an additional 319 shares during the period. Finally, Campbell Newman Asset Management Inc. grew its holdings in shares of Allegiance Bancshares by 4.8% in the second quarter. Campbell Newman Asset Management Inc. now owns 7,552 shares of the bank’s stock worth $289,000 after acquiring an additional 349 shares during the period. 39.47% of the stock is owned by institutional investors.
Several analysts recently commented on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Allegiance Bancshares in a report on Thursday. Zacks Investment Research lowered Allegiance Bancshares from a “hold” rating to a “strong sell” rating in a report on Friday. BidaskClub lowered Allegiance Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, TheStreet raised Allegiance Bancshares from a “c-” rating to a “b-” rating in a report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $41.67.
In related news, Director Frances H. Jeter purchased 4,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $35.93 per share, with a total value of $143,720.00. Following the transaction, the director now owns 7,874 shares of the company’s stock, valued at $282,912.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daryl D. Bohls sold 1,500 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $36.68, for a total value of $55,020.00. Following the sale, the insider now directly owns 7,927 shares in the company, valued at $290,762.36. The disclosure for this sale can be found here. Insiders have sold a total of 33,900 shares of company stock worth $1,208,983 over the last ninety days. 13.88% of the stock is owned by insiders.
Allegiance Bancshares, Inc. (NASDAQ ABTX) traded down 0.38% during trading on Monday, reaching $39.00. The company had a trading volume of 19,837 shares. The firm has a market capitalization of $513.28 million, a P/E ratio of 22.81 and a beta of 2.41. The stock has a 50 day moving average price of $36.98 and a 200 day moving average price of $37.58. Allegiance Bancshares, Inc. has a 52 week low of $25.16 and a 52 week high of $40.45.
Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings results on Tuesday, October 24th. The bank reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.27). The company had revenue of $28.46 million for the quarter, compared to analyst estimates of $28.81 million. Allegiance Bancshares had a return on equity of 6.99% and a net margin of 16.88%. Allegiance Bancshares’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. Analysts predict that Allegiance Bancshares, Inc. will post $1.68 earnings per share for the current year.
Allegiance Bancshares 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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