Allegiance Bancshares (ABTX) Lowered to Sell at BidaskClub
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.
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.
Further Reading: What are the Different Types of Leveraged Buyouts?
Receive News & Ratings for Allegiance Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiance Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.