RMB Capital Management LLC purchased a new stake in Allegiance Bancshares, Inc. (NASDAQ:ABTX) during the first quarter, Holdings Channel reports. The institutional investor purchased 24,100 shares of the bank’s stock, valued at approximately $897,000.
A number of other institutional investors have also modified their holdings of ABTX. Bank of Montreal Can purchased a new stake in shares of Allegiance Bancshares during the first quarter worth approximately $182,000. Highbridge Capital Management LLC purchased a new stake in shares of Allegiance Bancshares during the fourth quarter worth approximately $203,000. Dimensional Fund Advisors LP purchased a new stake in shares of Allegiance Bancshares during the fourth quarter worth approximately $218,000. California Public Employees Retirement System purchased a new stake in shares of Allegiance Bancshares during the first quarter worth approximately $234,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Allegiance Bancshares during the fourth quarter worth approximately $233,000. Institutional investors own 35.29% of the company’s stock.
Shares of Allegiance Bancshares, Inc. (ABTX) traded down 0.51% on Friday, hitting $39.40. The stock had a trading volume of 27,874 shares. Allegiance Bancshares, Inc. has a 12 month low of $22.03 and a 12 month high of $40.45. The stock has a market cap of $516.10 million, a P/E ratio of 23.03 and a beta of 2.38. The firm has a 50 day moving average of $38.87 and a 200 day moving average of $36.14.
Allegiance Bancshares (NASDAQ:ABTX) last released its earnings results on Tuesday, April 25th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.05. The business had revenue of $25.47 million for the quarter, compared to analyst estimates of $25.25 million. Allegiance Bancshares had a return on equity of 8.01% and a net margin of 20.47%. During the same quarter in the previous year, the company posted $0.49 earnings per share. On average, equities 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 brokerages have recently commented on ABTX. Zacks Investment Research cut shares of Allegiance Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $40.00 price objective 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.
In related news, insider Daryl D. Bohls sold 1,500 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $39.67, for a total transaction of $59,505.00. Following the transaction, the insider now owns 7,927 shares of the company’s stock, valued at $314,464.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ramon A. Vitulli III sold 1,431 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $38.10, for a total value of $54,521.10. Following the transaction, the insider now directly owns 6,877 shares in the company, valued at approximately $262,013.70. The disclosure for this sale can be found here. In the last three months, insiders sold 8,500 shares of company stock worth $326,159. Corporate insiders own 13.88% of the company’s stock.
About Allegiance Bancshares
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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