Stephens Investment Management Group LLC grew its position in Allegiance Bancshares, Inc. (NASDAQ:ABTX) by 17.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 160,981 shares of the bank’s stock after acquiring an additional 24,368 shares during the period. Stephens Investment Management Group LLC owned 1.22% of Allegiance Bancshares worth $5,924,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fayez Sarofim & Co. bought a new position in shares of Allegiance Bancshares in the 2nd quarter valued at $547,000. Dimensional Fund Advisors LP grew its holdings in Allegiance Bancshares by 600.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 42,244 shares of the bank’s stock worth $1,571,000 after acquiring an additional 36,214 shares during the period. IndexIQ Advisors LLC lifted its position in Allegiance Bancshares by 83.3% in the 3rd quarter. IndexIQ Advisors LLC now owns 23,301 shares of the bank’s stock valued at $857,000 after acquiring an additional 10,587 shares in the last quarter. Swiss National Bank bought a new position in Allegiance Bancshares in the 2nd quarter valued at about $705,000. Finally, Vanguard Group Inc. lifted its position in Allegiance Bancshares by 14.6% in the 1st quarter. Vanguard Group Inc. now owns 434,296 shares of the bank’s stock valued at $16,156,000 after acquiring an additional 55,342 shares in the last quarter. Institutional investors own 40.21% of the company’s stock.
Several equities analysts recently weighed in on ABTX shares. Zacks Investment Research cut shares of Allegiance Bancshares from a “hold” rating to a “strong sell” rating in a research report on Friday, October 27th. Keefe, Bruyette & Woods set a $42.00 target price on shares of Allegiance Bancshares and gave the stock a “hold” rating in a research report on Monday, August 28th. TheStreet upgraded shares of Allegiance Bancshares from a “c-” rating to a “b-” rating in a research note on Tuesday, October 24th. Finally, BidaskClub lowered shares of Allegiance Bancshares from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Two analysts have 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. Allegiance Bancshares has an average rating of “Hold” and a consensus price target of $41.67.
In other news, insider Daryl D. Bohls sold 1,500 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 7,927 shares in the company, valued at approximately $255,566.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Umesh Jain sold 5,088 shares of Allegiance Bancshares stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $35.33, for a total transaction of $179,759.04. Following the sale, the director now owns 132,275 shares of the company’s stock, valued at approximately $4,673,275.75. The disclosure for this sale can be found here. Insiders have sold a total of 66,652 shares of company stock worth $2,566,479 over the last 90 days. Insiders own 13.88% of the company’s stock.
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Allegiance Bancshares, Inc. (NASDAQ:ABTX) traded down $0.35 during trading on Wednesday, reaching $39.05. 46,400 shares of the company’s stock traded hands, compared to its average volume of 34,217. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $519.35, a P/E ratio of 26.09 and a beta of 2.42. Allegiance Bancshares, Inc. has a 1-year low of $30.20 and a 1-year high of $40.45.
Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings results on Tuesday, October 24th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.27). The company had revenue of $28.46 million for the quarter, compared to analysts’ expectations of $28.81 million. Allegiance Bancshares had a net margin of 16.88% and a return on equity of 6.91%. Allegiance Bancshares’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. analysts predict that Allegiance Bancshares, Inc. will post 1.59 earnings per share for the current year.
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.
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