Allegiance Bancshares, Inc. (ABTX) Position Lowered by Callahan Advisors LLC

Callahan Advisors LLC decreased its position in shares of Allegiance Bancshares, Inc. (NASDAQ:ABTX) by 16.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,618 shares of the bank’s stock after selling 9,820 shares during the quarter. Callahan Advisors LLC owned 0.38% of Allegiance Bancshares worth $1,863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in Allegiance Bancshares in the first quarter worth approximately $3,441,000. Vanguard Group Inc. boosted its holdings in Allegiance Bancshares by 14.6% in the first quarter. Vanguard Group Inc. now owns 434,296 shares of the bank’s stock worth $16,156,000 after purchasing an additional 55,342 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Allegiance Bancshares by 600.6% in the first quarter. Dimensional Fund Advisors LP now owns 42,244 shares of the bank’s stock worth $1,571,000 after purchasing an additional 36,214 shares during the last quarter. State Street Corp boosted its holdings in Allegiance Bancshares by 15.2% in the second quarter. State Street Corp now owns 188,429 shares of the bank’s stock worth $7,218,000 after purchasing an additional 24,826 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in Allegiance Bancshares by 54.7% in the second quarter. Royce & Associates LP now owns 58,000 shares of the bank’s stock worth $2,221,000 after purchasing an additional 20,500 shares during the last quarter. Hedge funds and other institutional investors own 38.71% of the company’s stock.

Several brokerages recently issued reports on ABTX. Zacks Investment Research cut shares of Allegiance Bancshares from a “hold” rating to a “strong sell” rating in a report on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $44.00 price target on shares of Allegiance Bancshares in a research report on Thursday, October 26th. TheStreet upgraded shares of Allegiance Bancshares from a “c-” rating to a “b-” rating in a research report on Tuesday, October 24th. Finally, BidaskClub downgraded shares of Allegiance Bancshares from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.67.

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Shares of Allegiance Bancshares, Inc. (ABTX) opened at $37.90 on Wednesday. The company has a market cap of $491.01, a price-to-earnings ratio of 24.67 and a beta of 2.42. Allegiance Bancshares, Inc. has a 52-week low of $30.10 and a 52-week high of $40.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.04.

Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.27). The firm had revenue of $28.46 million for the quarter, compared to the consensus estimate of $28.81 million. Allegiance Bancshares had a net margin of 16.88% and a return on equity of 6.91%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 earnings per share. analysts anticipate that Allegiance Bancshares, Inc. will post 1.71 earnings per share for the current fiscal year.

In other Allegiance Bancshares news, insider Daryl D. Bohls sold 1,500 shares of Allegiance Bancshares stock in a transaction on Friday, September 8th. The shares were sold at an average price of $32.24, for a total value of $48,360.00. Following the completion of the transaction, the insider now directly owns 7,927 shares of the company’s stock, valued at approximately $255,566.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Umesh Jain sold 22,500 shares of Allegiance Bancshares stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $39.00, for a total transaction of $877,500.00. Following the completion of the transaction, the director now directly owns 4,374 shares of the company’s stock, valued at $170,586. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,476 shares of company stock worth $3,056,443. 13.88% of the stock is currently owned by insiders.

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.

Institutional Ownership by Quarter for Allegiance Bancshares (NASDAQ:ABTX)

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