Allegiance Bancshares Inc (NASDAQ: ABTX) Downgraded at Robert W. Baird

Analysts at Robert W. Baird downgraded shares of Allegiance Bancshares Inc (NASDAQ: ABTX) from Outperform to Neutral in a research note to investors today. With a rating of Neutral on the shares, the company has a 52-week high of $28.98. The one-year price target of $27.25 is a decrease compared to the opening price of $28.02, causing a fair amount of other analysts to comment on the company recently. Downgrades are more common when analysts consider that the future prospects for the security have dropped from the original recommendation, often because of a material and crucial digression in the company’s procedures, future vision or industry.

The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end

On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.

The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.

S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.

Yesterday Allegiance Bancshares Inc (NASDAQ: ABTX) shares last traded at $26.76, which is a decrease of $1.69 from the previous closing price. Opening at $28.02, they ranged from $26.18 and $28.20 throughout the day.

Allegiance Bancshares Inc (NASDAQ: ABTX) now has a market cap of 344.54M.

67,755 shares traded hands yesterday, higher than the average, out of a total float 11,001,000. Excessive volume aggregation by institutional investors may be on the horizon as the combination of large gains in trading volume and price growth can be deciding factors.

As with all possible breakouts, investors look for volume to be at least 40%-50% above normal on the breakout to show that fund managers and other professional investors are jumping in.

Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these have teams of analysts that investigate thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re researching.

Traders can make more effective judgments on trades when they track the activity of professional investors.

With that in mind, Allegiance Bancshares Inc (NASDAQ: ABTX) now has a 50-day MA of $26.42 and 200-day MA of $23.21. It has traded in a 52-week range between $14.38 – 28.98 and today’s last price is 0.08% lower than the 52 week high of $28.98.

Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors identify companies that have increased their earnings at least 25% or more over the past 3 years.

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