Allegiance Bancshares, Inc. (NASDAQ:ABTX) Receives $26.33 Consensus Target Price from Analysts

Allegiance Bancshares, Inc. (NASDAQ:ABTX) has been assigned an average rating of “Hold” from the eight brokerages that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $26.33.

A number of research firms have issued reports on ABTX. Piper Sandler reduced their target price on shares of Allegiance Bancshares from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. BidaskClub raised shares of Allegiance Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, October 8th. Janney Montgomery Scott began coverage on shares of Allegiance Bancshares in a research report on Friday, October 2nd. They set a “neutral” rating for the company. Zacks Investment Research raised Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Tuesday, September 29th. Finally, ValuEngine raised Allegiance Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, October 21st.

In other Allegiance Bancshares news, Director Roland L. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $25.26, for a total value of $75,780.00. Following the sale, the director now owns 130,027 shares in the company, valued at approximately $3,284,482.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roland L. Williams sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $26.23, for a total value of $65,575.00. Following the transaction, the director now directly owns 112,527 shares of the company’s stock, valued at approximately $2,951,583.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,059 shares of company stock valued at $528,945. Corporate insiders own 8.57% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of Allegiance Bancshares by 148.3% in the second quarter. Bank of Montreal Can now owns 1,996 shares of the bank’s stock valued at $44,000 after acquiring an additional 1,192 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Allegiance Bancshares during the 2nd quarter worth approximately $126,000. HWG Holdings LP acquired a new position in shares of Allegiance Bancshares during the 2nd quarter worth approximately $127,000. BNP Paribas Arbitrage SA raised its stake in shares of Allegiance Bancshares by 79.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,672 shares of the bank’s stock worth $185,000 after purchasing an additional 3,392 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Allegiance Bancshares in the 3rd quarter valued at approximately $203,000. Institutional investors and hedge funds own 44.95% of the company’s stock.

ABTX traded down $0.28 during mid-day trading on Friday, reaching $27.63. The stock had a trading volume of 1,140 shares, compared to its average volume of 44,573. The firm’s fifty day simple moving average is $24.89 and its two-hundred day simple moving average is $24.72. The stock has a market capitalization of $570.25 million, a P/E ratio of 14.77 and a beta of 1.28. Allegiance Bancshares has a 52 week low of $20.88 and a 52 week high of $38.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00.

Allegiance Bancshares (NASDAQ:ABTX) last issued its quarterly earnings results on Thursday, July 30th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.24. The business had revenue of $52.41 million for the quarter, compared to analyst estimates of $50.27 million. Allegiance Bancshares had a return on equity of 5.52% and a net margin of 16.08%. As a group, analysts expect that Allegiance Bancshares will post 1.71 EPS for the current fiscal year.

About Allegiance Bancshares

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, and savings accounts, as well as other time deposits comprising money market accounts and certificates of deposit.

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