Insider Selling: Allegiance Bancshares, Inc. (ABTX) Director Sells $877,500.00 in Stock

Allegiance Bancshares, Inc. (NASDAQ:ABTX) Director Umesh Jain sold 22,500 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $39.00, for a total value of $877,500.00. Following the transaction, the director now directly owns 4,374 shares of the company’s stock, valued at $170,586. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Umesh Jain also recently made the following trade(s):

  • On Friday, October 27th, Umesh Jain sold 34,000 shares of Allegiance Bancshares stock. The shares were sold at an average price of $39.01, for a total value of $1,326,340.00.
  • On Thursday, August 24th, Umesh Jain sold 5,088 shares of Allegiance Bancshares stock. The shares were sold at an average price of $35.33, for a total value of $179,759.04.
  • On Tuesday, August 22nd, Umesh Jain sold 3,900 shares of Allegiance Bancshares stock. The shares were sold at an average price of $35.51, for a total value of $138,489.00.
  • On Monday, August 21st, Umesh Jain sold 2,000 shares of Allegiance Bancshares stock. The shares were sold at an average price of $35.48, for a total value of $70,960.00.
  • On Wednesday, August 23rd, Umesh Jain sold 8,312 shares of Allegiance Bancshares stock. The shares were sold at an average price of $35.55, for a total value of $295,491.60.
  • On Monday, August 14th, Umesh Jain sold 10,100 shares of Allegiance Bancshares stock. The shares were sold at an average price of $36.03, for a total value of $363,903.00.

Allegiance Bancshares (NASDAQ:ABTX) last posted its quarterly earnings results on Tuesday, October 24th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.27). The company had revenue of $28.46 million during the quarter, compared to analysts’ expectations of $28.81 million. Allegiance Bancshares had a net margin of 16.88% and a return on equity of 6.99%. Allegiance Bancshares’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share.

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Hedge funds have recently bought and sold shares of the company. Fayez Sarofim & Co. purchased a new stake in shares of Allegiance Bancshares in the second quarter valued at approximately $547,000. Dimensional Fund Advisors LP grew its position 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 valued at $1,571,000 after purchasing an additional 36,214 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Allegiance Bancshares by 14.6% in the first quarter. Vanguard Group Inc. now owns 434,296 shares of the bank’s stock valued at $16,156,000 after purchasing an additional 55,342 shares in the last quarter. Banc Funds Co. LLC lifted its holdings in Allegiance Bancshares by 2.2% in the second quarter. Banc Funds Co. LLC now owns 455,253 shares of the bank’s stock valued at $17,436,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in Allegiance Bancshares in the first quarter valued at approximately $3,441,000. Institutional investors and hedge funds own 39.47% of the company’s stock.

Several equities research analysts have recently issued reports on ABTX shares. BidaskClub raised Allegiance Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, July 7th. Zacks Investment Research lowered Allegiance Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Keefe, Bruyette & Woods set a $42.00 price objective on Allegiance Bancshares and gave the company a “hold” rating in a research note on Monday, August 28th. Finally, TheStreet raised Allegiance Bancshares from a “c-” rating to a “b-” rating in a research note on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Allegiance Bancshares presently has an average rating of “Hold” and a consensus price target of $41.67.

About Allegiance Bancshares

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.

Insider Buying and Selling by Quarter for Allegiance Bancshares (NASDAQ:ABTX)

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