Allegiance Bancshares (ABTX) Stock Rating Upgraded by BidaskClub

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BidaskClub upgraded shares of Allegiance Bancshares (NASDAQ:ABTX) from a hold rating to a buy rating in a research note published on Monday, June 18th.

Separately, Zacks Investment Research cut shares of Allegiance Bancshares from a hold rating to a sell rating in a research note on Tuesday, March 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $43.33.

ABTX opened at $43.60 on Monday. The company has a market cap of $571.01 million, a price-to-earnings ratio of 25.21 and a beta of 1.93. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.75. Allegiance Bancshares has a 52-week low of $31.75 and a 52-week high of $44.70.

Allegiance Bancshares (NASDAQ:ABTX) last posted its quarterly earnings data on Thursday, April 26th. The bank reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. Allegiance Bancshares had a net margin of 14.79% and a return on equity of 7.54%. The firm had revenue of $28.54 million for the quarter, compared to the consensus estimate of $29.65 million. research analysts predict that Allegiance Bancshares will post 2.47 earnings per share for the current fiscal year.

In related news, insider Daryl D. Bohls sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 9th. The shares were sold at an average price of $40.69, for a total transaction of $61,035.00. Following the transaction, the insider now owns 7,927 shares of the company’s stock, valued at $322,549.63. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.74% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in ABTX. UBS Group AG grew its stake in shares of Allegiance Bancshares by 208.5% in the first quarter. UBS Group AG now owns 5,272 shares of the bank’s stock worth $206,000 after acquiring an additional 3,563 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in Allegiance Bancshares during the fourth quarter worth $219,000. Two Sigma Investments LP acquired a new stake in Allegiance Bancshares during the fourth quarter worth $319,000. Wells Fargo & Company MN boosted its stake in Allegiance Bancshares by 35.8% during the fourth quarter. Wells Fargo & Company MN now owns 15,966 shares of the bank’s stock worth $601,000 after buying an additional 4,213 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Allegiance Bancshares during the first quarter worth $848,000. Institutional investors and hedge funds own 44.79% 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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