Insider Buying: Allegiance Bancshares Inc (ABTX) Director Acquires 3,000 Shares of Stock

Allegiance Bancshares Inc (NASDAQ:ABTX) Director Frances H. Jeter bought 3,000 shares of the company’s stock in a transaction dated Friday, November 30th. The stock was bought at an average price of $38.05 per share, for a total transaction of $114,150.00. Following the transaction, the director now owns 10,860 shares of the company’s stock, valued at $413,223. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of NASDAQ ABTX traded down $0.24 during trading on Friday, hitting $37.93. The company had a trading volume of 79,116 shares, compared to its average volume of 45,078. Allegiance Bancshares Inc has a fifty-two week low of $33.05 and a fifty-two week high of $46.85. The firm has a market cap of $833.14 million, a price-to-earnings ratio of 24.01 and a beta of 1.66. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64.

Allegiance Bancshares (NASDAQ:ABTX) last announced its earnings results on Thursday, October 25th. The bank reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. Allegiance Bancshares had a net margin of 19.41% and a return on equity of 10.35%. The business had revenue of $29.96 million for the quarter, compared to analyst estimates of $30.55 million. Equities research analysts anticipate that Allegiance Bancshares Inc will post 2.56 EPS for the current fiscal year.

Several analysts have recently issued reports on ABTX shares. BidaskClub lowered shares of Allegiance Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Wednesday, September 26th. Raymond James started coverage on shares of Allegiance Bancshares in a research report on Tuesday, October 2nd. They issued a “strong-buy” rating and a $48.00 target price on the stock. Finally, Stephens reiterated a “buy” rating and issued a $51.00 target price on shares of Allegiance Bancshares in a research report on Thursday, October 25th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Allegiance Bancshares by 1.5% in the third quarter. BlackRock Inc. now owns 643,443 shares of the bank’s stock valued at $26,832,000 after purchasing an additional 9,547 shares during the period. Vanguard Group Inc. grew its position in shares of Allegiance Bancshares by 0.6% in the third quarter. Vanguard Group Inc. now owns 535,412 shares of the bank’s stock valued at $22,327,000 after purchasing an additional 3,128 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Allegiance Bancshares by 15.2% in the third quarter. Dimensional Fund Advisors LP now owns 267,006 shares of the bank’s stock valued at $11,134,000 after purchasing an additional 35,297 shares during the period. Advisory Research Inc. grew its position in shares of Allegiance Bancshares by 105.8% in the third quarter. Advisory Research Inc. now owns 252,484 shares of the bank’s stock valued at $10,529,000 after purchasing an additional 129,804 shares during the period. Finally, Stephens Investment Management Group LLC grew its position in shares of Allegiance Bancshares by 20.8% in the second quarter. Stephens Investment Management Group LLC now owns 178,090 shares of the bank’s stock valued at $7,765,000 after purchasing an additional 30,712 shares during the period. Institutional investors and hedge funds own 28.64% of the company’s stock.

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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.

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