Allegiance Bancshares, Inc. (NASDAQ:ABTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

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. “

Several other equities analysts have also commented on the company. Keefe, Bruyette & Woods set a $42.00 price target on Allegiance Bancshares and gave the stock a “hold” rating in a research report on Monday, August 28th. BidaskClub lowered Allegiance Bancshares from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Finally, Stephens reaffirmed a “buy” rating and issued a $42.00 target price on shares of Allegiance Bancshares in a research report on Thursday, June 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.25.

Shares of Allegiance Bancshares (NASDAQ ABTX) opened at 37.15 on Tuesday. Allegiance Bancshares has a one year low of $25.16 and a one year high of $40.45. The firm has a market cap of $488.93 million, a PE ratio of 21.73 and a beta of 2.38. The company has a 50-day moving average of $35.22 and a 200 day moving average of $37.37.

Allegiance Bancshares (NASDAQ:ABTX) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.40 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.06). The company had revenue of $26.58 million for the quarter, compared to analyst estimates of $27.24 million. Allegiance Bancshares had a return on equity of 7.90% and a net margin of 19.75%. During the same period last year, the firm posted $0.36 earnings per share. On average, equities research analysts expect that Allegiance Bancshares will post $1.88 EPS for the current fiscal year.

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In other Allegiance Bancshares news, Director Umesh Jain sold 10,100 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $36.03, for a total value of $363,903.00. Following the transaction, the director now directly owns 145,675 shares of the company’s stock, valued at approximately $5,248,670.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daryl D. Bohls sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $32.24, for a total value of $48,360.00. Following the completion of the transaction, the insider now directly owns 7,927 shares in the company, valued at $255,566.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,900 shares of company stock worth $1,210,738. 13.88% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in shares of Allegiance Bancshares by 600.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 42,244 shares of the bank’s stock valued at $1,571,000 after purchasing an additional 36,214 shares in the last quarter. Fayez Sarofim & Co. acquired a new position in shares of Allegiance Bancshares in the 2nd quarter valued at approximately $547,000. Vanguard Group Inc. raised its position in shares of Allegiance Bancshares by 14.6% in the 1st quarter. Vanguard Group Inc. now owns 434,296 shares of the bank’s stock valued at $16,156,000 after purchasing an additional 55,342 shares in the last quarter. Mendon Capital Advisors Corp acquired a new position in shares of Allegiance Bancshares in the 1st quarter valued at approximately $897,000. Finally, Wellington Management Group LLP acquired a new position in shares of Allegiance Bancshares in the 1st quarter valued at approximately $3,441,000. 39.73% of the stock is currently owned by institutional investors.

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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