BidaskClub lowered shares of Allegiance Bancshares (NASDAQ:ABTX) from a hold rating to a sell rating in a research report sent to investors on Thursday.

NASDAQ:ABTX opened at $44.35 on Thursday. The firm has a market capitalization of $595.53 million, a P/E ratio of 28.07 and a beta of 1.89. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.08 and a current ratio of 1.08. Allegiance Bancshares has a 12 month low of $31.75 and a 12 month high of $46.85.

Allegiance Bancshares (NASDAQ:ABTX) last posted its earnings results on Thursday, July 26th. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.62 by $0.06. The firm had revenue of $29.62 million for the quarter, compared to analyst estimates of $30.06 million. Allegiance Bancshares had a return on equity of 8.66% and a net margin of 15.77%. analysts predict that Allegiance Bancshares will post 2.57 EPS for the current fiscal year.

In other news, Director Fred S. Robertson acquired 2,250 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were bought at an average price of $44.47 per share, with a total value of $100,057.50. Following the completion of the acquisition, the director now owns 4,606 shares in the company, valued at approximately $204,828.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul Michael Mann sold 10,635 shares of the firm’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $45.16, for a total value of $480,276.60. Following the transaction, the director now directly owns 40,049 shares in the company, valued at approximately $1,808,612.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,924 shares of company stock worth $763,828. Corporate insiders own 12.74% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Bank of Montreal Can purchased a new position in shares of Allegiance Bancshares during the second quarter worth about $194,000. UBS Group AG grew its holdings in shares of Allegiance Bancshares by 208.5% during the first quarter. UBS Group AG now owns 5,272 shares of the bank’s stock worth $206,000 after buying an additional 3,563 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Allegiance Bancshares during the fourth quarter worth about $219,000. Rhumbline Advisers grew its holdings in shares of Allegiance Bancshares by 15.1% during the second quarter. Rhumbline Advisers now owns 11,541 shares of the bank’s stock worth $500,000 after buying an additional 1,516 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Allegiance Bancshares during the second quarter worth about $510,000. 45.98% of the stock is currently owned by institutional investors.

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

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