Equities analysts predict that Allegiance Bancshares Inc (NASDAQ:ABTX) will announce earnings of $0.67 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Allegiance Bancshares’ earnings. The highest EPS estimate is $0.70 and the lowest is $0.63. Allegiance Bancshares posted earnings of $0.51 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 31.4%. The firm is expected to report its next quarterly earnings results on Thursday, January 24th.

According to Zacks, analysts expect that Allegiance Bancshares will report full-year earnings of $2.57 per share for the current financial year, with EPS estimates ranging from $2.51 to $2.65. For the next year, analysts anticipate that the business will post earnings of $3.02 per share, with EPS estimates ranging from $2.81 to $3.16. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Allegiance Bancshares.

Allegiance Bancshares (NASDAQ:ABTX) last released its quarterly earnings data on Thursday, October 25th. The bank reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. The firm had revenue of $29.96 million for the quarter, compared to analysts’ expectations of $30.55 million. Allegiance Bancshares had a net margin of 19.41% and a return on equity of 10.35%.

Several equities research analysts have recently issued reports on ABTX shares. Zacks Investment Research upgraded shares of Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Wednesday, September 26th. Raymond James reduced their price objective on shares of Allegiance Bancshares from $48.00 to $46.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 26th. BidaskClub cut shares of Allegiance Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, Stephens cut shares of Allegiance Bancshares from an “overweight” rating to an “equal” rating and reduced their price target for the stock from $51.00 to $41.00 in a research report on Friday, October 26th.

In related news, Director Paul Michael Mann sold 5,889 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $45.09, for a total value of $265,535.01. Following the sale, the director now owns 35,020 shares in the company, valued at $1,579,051.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.74% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can bought a new stake in Allegiance Bancshares in the second quarter worth $194,000. UBS Group AG increased its position in Allegiance Bancshares by 208.5% in the first quarter. UBS Group AG now owns 5,272 shares of the bank’s stock worth $206,000 after purchasing an additional 3,563 shares during the last quarter. Sheets Smith Wealth Management bought a new stake in Allegiance Bancshares in the third quarter worth $245,000. Rhumbline Advisers increased its position in Allegiance Bancshares by 15.1% in the second quarter. Rhumbline Advisers now owns 11,541 shares of the bank’s stock worth $500,000 after purchasing an additional 1,516 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Allegiance Bancshares in the second quarter worth $510,000. Institutional investors own 46.29% of the company’s stock.

Allegiance Bancshares stock opened at $38.68 on Wednesday. The company has a market cap of $842.09 million, a PE ratio of 24.48 and a beta of 1.66. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. Allegiance Bancshares has a 1 year low of $36.50 and a 1 year high of $46.85.

Allegiance Bancshares Company Profile

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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