Analysts Anticipate Allegiance Bancshares Inc (ABTX) Will Post Earnings of $0.61 Per Share

Equities research analysts expect Allegiance Bancshares Inc (NASDAQ:ABTX) to announce earnings per share (EPS) of $0.61 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Allegiance Bancshares’ earnings. Allegiance Bancshares reported earnings of $0.57 per share during the same quarter last year, which indicates a positive year over year growth rate of 7%. The business is scheduled to issue its next earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Allegiance Bancshares will report full-year earnings of $2.86 per share for the current fiscal year, with EPS estimates ranging from $2.81 to $2.94. For the next year, analysts expect that the company will post earnings of $3.29 per share, with EPS estimates ranging from $3.14 to $3.50. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Allegiance Bancshares.

Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings data on Friday, January 25th. The bank reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.05). The company had revenue of $48.17 million during the quarter, compared to the consensus estimate of $46.96 million. Allegiance Bancshares had a net margin of 22.48% and a return on equity of 12.41%.

Several equities analysts have recently weighed in on the company. Stephens restated a “buy” rating and issued a $51.00 price objective on shares of Allegiance Bancshares in a report on Thursday, October 25th. ValuEngine cut Allegiance Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, December 13th. Zacks Investment Research upgraded Allegiance Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 27th. Finally, BidaskClub upgraded Allegiance Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, January 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $40.67.

Shares of NASDAQ ABTX traded down $0.21 during mid-day trading on Thursday, hitting $38.59. The company had a trading volume of 2,892 shares, compared to its average volume of 81,979. The stock has a market capitalization of $845.58 million, a price-to-earnings ratio of 15.32 and a beta of 1.60. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. Allegiance Bancshares has a one year low of $28.58 and a one year high of $46.85.

In other Allegiance Bancshares news, Director Frances H. Jeter purchased 3,000 shares of the company’s stock in a transaction dated Friday, November 30th. The stock was bought at an average cost of $38.05 per share, for a total transaction of $114,150.00. Following the completion of the transaction, the director now owns 10,860 shares in the company, valued at $413,223. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances H. Jeter purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, December 11th. The stock was acquired at an average price of $34.29 per share, with a total value of $34,290.00. Following the completion of the transaction, the director now owns 12,360 shares of the company’s stock, valued at approximately $423,824.40. The disclosure for this purchase can be found here. Insiders have acquired 37,650 shares of company stock valued at $1,201,122 over the last 90 days. Company insiders own 12.74% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new position in Allegiance Bancshares during the fourth quarter valued at approximately $29,000. Legal & General Group Plc lifted its holdings in Allegiance Bancshares by 34.0% in the fourth quarter. Legal & General Group Plc now owns 2,249 shares of the bank’s stock valued at $73,000 after buying an additional 571 shares during the period. Metropolitan Life Insurance Co. NY lifted its holdings in Allegiance Bancshares by 372.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,275 shares of the bank’s stock valued at $138,000 after buying an additional 3,371 shares during the period. Sheets Smith Wealth Management acquired a new position in Allegiance Bancshares in the third quarter valued at $245,000. Finally, Hillview Capital Advisors LLC acquired a new position in Allegiance Bancshares in the fourth quarter valued at $210,000. Institutional investors own 30.45% of the company’s stock.

Allegiance Bancshares Company Profile

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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