Allegiance Bancshares Inc (NASDAQ:ABTX) insider Ramon A. Vitulli III sold 1,431 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $38.10, for a total transaction of $54,521.10. Following the completion of the sale, the insider now directly owns 6,877 shares in the company, valued at $262,013.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Allegiance Bancshares Inc (NASDAQ:ABTX) traded down 0.26% during midday trading on Thursday, reaching $38.05. 5,320 shares of the company were exchanged. The stock has a market capitalization of $498.42 million, a P/E ratio of 22.24 and a beta of 2.29. The company has a 50 day moving average price of $38.31 and a 200-day moving average price of $35.20. Allegiance Bancshares Inc has a 12-month low of $22.03 and a 12-month high of $40.00.
Allegiance Bancshares (NASDAQ:ABTX) last posted its quarterly earnings results on Tuesday, April 25th. The bank reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.05. Allegiance Bancshares had a return on equity of 8.32% and a net margin of 21.15%. The business had revenue of $25.47 million during the quarter, compared to the consensus estimate of $25.25 million. During the same period in the prior year, the company posted $0.49 EPS. On average, analysts forecast that Allegiance Bancshares Inc will post $1.96 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased its position in Allegiance Bancshares by 4.7% in the first quarter. Bank of America Corp DE now owns 5,351 shares of the bank’s stock valued at $199,000 after buying an additional 241 shares during the last quarter. RMB Capital Management LLC acquired a new position in Allegiance Bancshares during the first quarter valued at $897,000. Mendon Capital Advisors Corp acquired a new position in Allegiance Bancshares during the first quarter valued at $897,000. Dimensional Fund Advisors LP increased its position in Allegiance Bancshares by 600.6% in the first quarter. Dimensional Fund Advisors LP now owns 42,244 shares of the bank’s stock valued at $1,571,000 after buying an additional 36,214 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Allegiance Bancshares by 5.2% in the first quarter. Geode Capital Management LLC now owns 93,873 shares of the bank’s stock valued at $3,492,000 after buying an additional 4,668 shares during the last quarter. Institutional investors and hedge funds own 31.31% of the company’s stock.
A number of equities research analysts recently weighed in on ABTX shares. Zacks Investment Research downgraded shares of Allegiance Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 14th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $40.00 target price on shares of Allegiance Bancshares in a research note on Wednesday, April 26th. Finally, Stephens reaffirmed a “buy” rating on shares of Allegiance Bancshares in a research note on Tuesday, April 25th.
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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