RMB Capital Management LLC Takes Position in Allegiance Bancshares, Inc. (ABTX)

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.

Institutional Ownership by Quarter for Allegiance Bancshares (NASDAQ:ABTX)

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.

Want to see what other hedge funds are holding ABTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegiance Bancshares, Inc. (NASDAQ:ABTX).

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