Allegiance Bancshares, Inc. (NASDAQ:ABTX) Director Thomas A. Reiser acquired 11,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $36.53 per share, for a total transaction of $401,830.00. Following the acquisition, the director now owns 189,190 shares in the company, valued at approximately $6,911,110.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Allegiance Bancshares, Inc. (NASDAQ ABTX) opened at 36.00 on Friday. Allegiance Bancshares, Inc. has a one year low of $25.13 and a one year high of $40.45. The stock has a 50 day moving average price of $38.20 and a 200-day moving average price of $37.35. The firm has a market cap of $473.80 million, a P/E ratio of 21.05 and a beta of 2.32.
Allegiance Bancshares (NASDAQ:ABTX) last issued its earnings results on Tuesday, July 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.06. Allegiance Bancshares had a return on equity of 7.90% and a net margin of 19.75%. The company had revenue of $26.58 million for the quarter, compared to the consensus estimate of $27.24 million. During the same quarter last year, the business posted $0.36 EPS. Analysts predict that Allegiance Bancshares, Inc. will post $1.89 EPS for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC boosted its position in Allegiance Bancshares by 2.6% in the first quarter. TIAA CREF Investment Management LLC now owns 36,081 shares of the bank’s stock valued at $1,342,000 after buying an additional 923 shares during the period. Wellington Management Group LLP acquired a new position in Allegiance Bancshares during the first quarter valued at $3,441,000. American International Group Inc. boosted its position in Allegiance Bancshares by 7.1% in the first quarter. American International Group Inc. now owns 6,763 shares of the bank’s stock valued at $252,000 after buying an additional 448 shares during the period. Context BH Capital Management LP boosted its position in Allegiance Bancshares by 27.7% in the first quarter. Context BH Capital Management LP now owns 14,064 shares of the bank’s stock valued at $523,000 after buying an additional 3,048 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Allegiance Bancshares by 14.5% in the first quarter. Bank of New York Mellon Corp now owns 49,841 shares of the bank’s stock valued at $1,855,000 after buying an additional 6,325 shares during the period. Institutional investors and hedge funds own 35.36% of the company’s stock.
Several analysts have issued reports on ABTX shares. Stephens restated a “buy” rating on shares of Allegiance Bancshares in a report on Tuesday, April 25th. BidaskClub upgraded Allegiance Bancshares from a “hold” rating to a “buy” rating in a report on Friday, July 7th. Zacks Investment Research upgraded Allegiance Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $40.00 price objective on shares of Allegiance Bancshares in a report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $40.75.
Allegiance Bancshares Company 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.
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