Allegiance Bancshares, Inc. (NASDAQ:ABTX) gapped down prior to trading on Thursday . The stock had previously closed at $40.06, but opened at $39.19. Allegiance Bancshares shares last traded at $39.72, with a volume of 169 shares.

Separately, Zacks Investment Research cut shares of Allegiance Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $26.33.

The stock has a market cap of $800.43 million, a P/E ratio of 18.64 and a beta of 1.20. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average price is $40.06 and its 200 day moving average price is $33.72.

Allegiance Bancshares (NASDAQ:ABTX) last announced its earnings results on Wednesday, January 27th. The bank reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.06. Allegiance Bancshares had a net margin of 17.69% and a return on equity of 6.00%. The firm had revenue of $56.92 million for the quarter, compared to analysts’ expectations of $55.13 million. As a group, sell-side analysts forecast that Allegiance Bancshares, Inc. will post 2.15 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Friday, February 26th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.21%. This is an increase from Allegiance Bancshares’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, February 25th. Allegiance Bancshares’s dividend payout ratio is 18.68%.

In other Allegiance Bancshares news, Director Roland L. Williams sold 1,600 shares of the company’s stock in a transaction dated Tuesday, January 19th. The shares were sold at an average price of $36.54, for a total transaction of $58,464.00. Following the transaction, the director now owns 102,919 shares in the company, valued at approximately $3,760,660.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roland L. Williams sold 2,000 shares of the company’s stock in a transaction dated Tuesday, January 12th. The shares were sold at an average price of $36.82, for a total transaction of $73,640.00. Following the transaction, the director now owns 104,519 shares in the company, valued at approximately $3,848,389.58. The disclosure for this sale can be found here. Insiders have sold a total of 16,400 shares of company stock worth $620,632 over the last three months. 8.57% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Great West Life Assurance Co. Can raised its stake in Allegiance Bancshares by 15,262.4% during the 3rd quarter. Great West Life Assurance Co. Can now owns 3,779,600 shares of the bank’s stock worth $997,000 after acquiring an additional 3,754,997 shares during the period. BlackRock Inc. raised its stake in Allegiance Bancshares by 4.1% during the 4th quarter. BlackRock Inc. now owns 2,950,208 shares of the bank’s stock worth $100,690,000 after acquiring an additional 115,256 shares during the period. JPMorgan Chase & Co. raised its stake in Allegiance Bancshares by 95.7% during the 4th quarter. JPMorgan Chase & Co. now owns 60,811 shares of the bank’s stock worth $2,075,000 after acquiring an additional 29,732 shares during the period. Zacks Investment Management bought a new stake in Allegiance Bancshares during the 4th quarter worth approximately $643,000. Finally, Weld Capital Management LLC bought a new stake in Allegiance Bancshares during the 3rd quarter worth approximately $372,000. Institutional investors and hedge funds own 44.34% of the company’s stock.

About Allegiance Bancshares (NASDAQ:ABTX)

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

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