Allegiance Bancshares (NASDAQ:ABTX) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.
Separately, Zacks Investment Research lowered shares of Allegiance Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Allegiance Bancshares currently has a consensus rating of “Hold” and an average target price of $43.33.
Shares of NASDAQ ABTX traded up $0.05 during trading on Friday, hitting $40.95. 3,576 shares of the company were exchanged, compared to its average volume of 30,779. The firm has a market capitalization of $538.69, a P/E ratio of 25.76 and a beta of 1.92. Allegiance Bancshares has a 1 year low of $31.75 and a 1 year high of $42.60.
In related news, Director Paul Michael Mann sold 3,639 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $40.77, for a total value of $148,362.03. Following the sale, the director now directly owns 42,752 shares in the company, valued at approximately $1,742,999.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul P. Egge sold 766 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $40.37, for a total transaction of $30,923.42. Following the completion of the sale, the insider now owns 9,934 shares in the company, valued at $401,035.58. The disclosure for this sale can be found here. Insiders have sold a total of 57,177 shares of company stock worth $2,253,893 over the last 90 days. Insiders own 12.74% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its position in shares of Allegiance Bancshares by 64.0% in the 3rd quarter. Wells Fargo & Company MN now owns 11,753 shares of the bank’s stock worth $432,000 after buying an additional 4,586 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Allegiance Bancshares by 13.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 25,013 shares of the bank’s stock worth $942,000 after buying an additional 2,913 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Allegiance Bancshares by 40.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 92,580 shares of the bank’s stock worth $3,407,000 after buying an additional 26,432 shares in the last quarter. STA Wealth Management LLC purchased a new stake in shares of Allegiance Bancshares in the 4th quarter worth about $1,007,000. Finally, Callahan Advisors LLC boosted its position in shares of Allegiance Bancshares by 88.2% in the 4th quarter. Callahan Advisors LLC now owns 95,265 shares of the bank’s stock worth $3,587,000 after buying an additional 44,647 shares in the last quarter. Institutional investors and hedge funds own 42.61% of the company’s stock.
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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