Allegiance Bancshares (ABTX) Downgraded by BidaskClub

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.

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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.

Allegiance Bancshares (NASDAQ:ABTX) last issued its earnings results on Thursday, January 25th. The bank reported $0.51 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.02). The company had revenue of $33.62 million for the quarter, compared to analysts’ expectations of $30.36 million. Allegiance Bancshares had a return on equity of 7.13% and a net margin of 14.07%. Allegiance Bancshares’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. equities research analysts forecast that Allegiance Bancshares will post 2.56 earnings per share for the current year.

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.

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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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