Zacks Investment Research Lowers Allegiance Bancshares (NASDAQ:ABTX) to Sell

Zacks Investment Research lowered shares of Allegiance Bancshares (NASDAQ:ABTX) from a hold rating to a sell rating in a research report released on Monday, April 30th.

According to Zacks, “Allegiance Bancshares, Inc. operates as a bank holding company. The Company offers banking products and services primarily to small and medium-sized businesses and individual customers, through its subsidiaries. It offers checking accounts, savings accounts, certificates of deposit, bank-by-mail, cashier’s checks, travelers checks, gift cards, savings bonds, personal loans, automobile loans, commercial loans, mortgage loans, home improvement loans, online banking services, safe deposit boxes and automated teller machines. Allegiance Bancshares, Inc. is headquartered in Houston, Texas. “

Separately, BidaskClub raised Allegiance Bancshares from a sell rating to a hold rating in a research note on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $43.33.

Shares of NASDAQ:ABTX traded up $0.45 during trading on Monday, hitting $42.40. The company had a trading volume of 35,500 shares, compared to its average volume of 29,402. The firm has a market capitalization of $557.02 million, a price-to-earnings ratio of 26.84 and a beta of 1.91. Allegiance Bancshares has a one year low of $41.85 and a one year high of $42.50. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.06 and a quick ratio of 1.06.

Allegiance Bancshares (NASDAQ:ABTX) last issued its quarterly earnings results on Thursday, April 26th. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. Allegiance Bancshares had a return on equity of 7.54% and a net margin of 14.79%. The firm had revenue of $28.54 million during the quarter, compared to analyst estimates of $29.65 million. analysts expect that Allegiance Bancshares will post 2.51 earnings per share for the current fiscal year.

In other Allegiance Bancshares news, insider Daryl D. Bohls sold 1,500 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $40.04, for a total transaction of $60,060.00. Following the transaction, the insider now directly owns 7,927 shares in the company, valued at approximately $317,397.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Michael Mann sold 11,250 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $40.10, for a total value of $451,125.00. Following the transaction, the director now owns 42,752 shares in the company, valued at $1,714,355.20. The disclosure for this sale can be found here. Insiders have sold a total of 14,250 shares of company stock valued at $572,220 over the last three months. 12.74% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its holdings 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 valued at $432,000 after acquiring an additional 4,586 shares during the period. Dimensional Fund Advisors LP increased its holdings 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 valued at $3,407,000 after acquiring an additional 26,432 shares during the period. GSA Capital Partners LLP increased its holdings in shares of Allegiance Bancshares by 25.3% in the 3rd quarter. GSA Capital Partners LLP now owns 7,998 shares of the bank’s stock valued at $294,000 after acquiring an additional 1,616 shares during the period. Schwab Charles Investment Management Inc. increased its holdings 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 valued at $942,000 after acquiring an additional 2,913 shares during the period. Finally, Campbell Newman Asset Management Inc. increased its holdings in shares of Allegiance Bancshares by 22.5% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 10,612 shares of the bank’s stock valued at $400,000 after acquiring an additional 1,949 shares during the period. Institutional investors own 42.67% 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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