Raymond James set a $38.00 target price on Allegiance Bancshares (NASDAQ:ABTX) in a report published on Monday, Stock Target Advisor reports. The firm currently has a buy rating on the bank’s stock.

A number of other brokerages also recently commented on ABTX. Zacks Investment Research downgraded shares of First Merchants from a hold rating to a sell rating in a research report on Monday, July 1st. BidaskClub downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, June 26th. Stephens restated a hold rating and set a $36.00 price objective on shares of Allegiance Bancshares in a research report on Monday, April 29th. Finally, ValuEngine upgraded shares of The Western Union from a sell rating to a hold rating in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Allegiance Bancshares currently has a consensus rating of Hold and a consensus target price of $37.82.

Shares of Allegiance Bancshares stock opened at $33.51 on Monday. The stock has a market cap of $706.40 million, a P/E ratio of 12.88 and a beta of 1.40. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.06 and a current ratio of 1.06. Allegiance Bancshares has a one year low of $28.58 and a one year high of $46.00. The stock’s fifty day moving average price is $33.22.

Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings data on Friday, April 26th. The bank reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.03). The firm had revenue of $47.89 million for the quarter, compared to analysts’ expectations of $48.20 million. Allegiance Bancshares had a return on equity of 8.88% and a net margin of 21.98%. As a group, equities analysts anticipate that Allegiance Bancshares will post 2.72 EPS for the current year.

In other news, Director Louis A. Jr. Waters sold 1,500 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $36.61, for a total transaction of $54,915.00. Following the transaction, the director now directly owns 37,229 shares of the company’s stock, valued at approximately $1,362,953.69. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Louis A. Jr. Waters sold 6,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $36.76, for a total transaction of $220,560.00. Following the transaction, the director now directly owns 40,229 shares in the company, valued at $1,478,818.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,962 shares of company stock valued at $456,868. 10.17% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Ranger Investment Management L.P. grew its stake in shares of Allegiance Bancshares by 44.1% during the 4th quarter. Ranger Investment Management L.P. now owns 110,126 shares of the bank’s stock worth $3,565,000 after purchasing an additional 33,680 shares during the period. Metropolitan Life Insurance Co. NY grew its stake in Allegiance Bancshares by 372.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,275 shares of the bank’s stock valued at $138,000 after acquiring an additional 3,371 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Allegiance Bancshares in the 4th quarter valued at about $495,000. BlackRock Inc. grew its stake in Allegiance Bancshares by 5.2% in the 4th quarter. BlackRock Inc. now owns 677,093 shares of the bank’s stock valued at $21,916,000 after acquiring an additional 33,650 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. grew its stake in Allegiance Bancshares by 2.6% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 19,975 shares of the bank’s stock valued at $674,000 after acquiring an additional 507 shares during the last quarter. 31.28% of the stock is currently owned by institutional investors and hedge funds.

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

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