Allegiance Bancshares (ABTX) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Allegiance Bancshares (NASDAQ:ABTX) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

A number of other brokerages also recently weighed in on ABTX. Zacks Investment Research downgraded shares of Allegiance Bancshares from a hold rating to a strong sell rating in a report on Friday, October 27th. Keefe, Bruyette & Woods reissued a hold rating and issued a $44.00 price target on shares of Allegiance Bancshares in a report on Thursday, October 26th. Finally, TheStreet raised shares of Allegiance Bancshares from a c- rating to a b- rating in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $43.00.

Shares of Allegiance Bancshares (NASDAQ:ABTX) opened at $39.25 on Wednesday. Allegiance Bancshares has a one year low of $31.20 and a one year high of $40.53. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The stock has a market cap of $527.92, a price-to-earnings ratio of 26.52 and a beta of 2.33.

Allegiance Bancshares (NASDAQ:ABTX) last posted its earnings results on Tuesday, October 24th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.27). Allegiance Bancshares had a return on equity of 6.91% and a net margin of 16.88%. The firm had revenue of $28.46 million during the quarter, compared to the consensus estimate of $28.81 million. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s revenue was up 14.3% compared to the same quarter last year. research analysts expect that Allegiance Bancshares will post 1.59 earnings per share for the current year.

In other Allegiance Bancshares news, Director Umesh Jain sold 34,000 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $39.01, for a total transaction of $1,326,340.00. Following the sale, the director now directly owns 132,275 shares of the company’s stock, valued at $5,160,047.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daryl D. Bohls sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $38.00, for a total transaction of $57,000.00. The disclosure for this sale can be found here. Insiders sold a total of 69,859 shares of company stock worth $2,730,358 over the last three months. 13.88% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in Allegiance Bancshares by 1.8% during the second quarter. FMR LLC now owns 1,129,320 shares of the bank’s stock valued at $43,253,000 after purchasing an additional 20,280 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Allegiance Bancshares by 11.3% during the second quarter. Vanguard Group Inc. now owns 483,169 shares of the bank’s stock valued at $18,506,000 after purchasing an additional 48,873 shares during the last quarter. Banc Funds Co. LLC lifted its holdings in Allegiance Bancshares by 2.2% during the second quarter. Banc Funds Co. LLC now owns 455,253 shares of the bank’s stock valued at $17,436,000 after purchasing an additional 10,000 shares during the last quarter. State Street Corp lifted its holdings in Allegiance Bancshares by 15.2% during the second quarter. State Street Corp now owns 188,429 shares of the bank’s stock valued at $7,218,000 after purchasing an additional 24,826 shares during the last quarter. Finally, Stieven Capital Advisors L.P. purchased a new stake in Allegiance Bancshares during the third quarter valued at about $6,072,000. 41.32% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This news story was originally posted by Community Financial News and is the property of of Community Financial News. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://www.com-unik.info/2017/12/23/allegiance-bancshares-abtx-lifted-to-hold-at-bidaskclub.html.

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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiance Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit