Allegiance Bancshares Inc (NASDAQ:ABTX) Receives $27.00 Consensus Price Target from Analysts

Allegiance Bancshares Inc (NASDAQ:ABTX) has received an average rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $27.00.

Several research firms recently issued reports on ABTX. BidaskClub cut Allegiance Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Zacks Investment Research upgraded Allegiance Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 19th. Stephens decreased their price target on Allegiance Bancshares from $31.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Finally, TheStreet cut Allegiance Bancshares from a “b-” rating to a “c” rating in a report on Monday, March 9th.

Shares of ABTX stock traded down $1.33 during trading hours on Friday, hitting $23.31. 108,015 shares of the company’s stock were exchanged, compared to its average volume of 93,370. The stock’s 50-day moving average is $25.22 and its 200-day moving average is $30.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $502.73 million, a price-to-earnings ratio of 11.85 and a beta of 1.35. Allegiance Bancshares has a 52 week low of $20.88 and a 52 week high of $38.95.

Allegiance Bancshares (NASDAQ:ABTX) last announced its earnings results on Thursday, April 30th. The bank reported $0.17 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.18). The business had revenue of $47.75 million for the quarter, compared to the consensus estimate of $46.23 million. Allegiance Bancshares had a return on equity of 6.22% and a net margin of 17.80%. Equities research analysts forecast that Allegiance Bancshares will post 1.49 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.72%. The ex-dividend date was Thursday, May 28th. Allegiance Bancshares’s payout ratio is 15.56%.

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Allegiance Bancshares by 0.9% in the first quarter. State Street Corp now owns 712,600 shares of the bank’s stock valued at $17,181,000 after buying an additional 6,200 shares during the period. Geode Capital Management LLC raised its position in shares of Allegiance Bancshares by 6.8% during the first quarter. Geode Capital Management LLC now owns 285,306 shares of the bank’s stock worth $6,878,000 after purchasing an additional 18,285 shares during the period. Bank of New York Mellon Corp raised its position in shares of Allegiance Bancshares by 171.9% during the fourth quarter. Bank of New York Mellon Corp now owns 229,864 shares of the bank’s stock worth $8,642,000 after purchasing an additional 145,336 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC raised its position in shares of Allegiance Bancshares by 6.5% during the first quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 175,233 shares of the bank’s stock worth $4,891,000 after purchasing an additional 10,666 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Allegiance Bancshares by 1,852.3% during the fourth quarter. Principal Financial Group Inc. now owns 161,105 shares of the bank’s stock worth $6,058,000 after purchasing an additional 152,853 shares during the period. 49.54% of the stock is currently owned by hedge funds and other 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, and savings accounts, as well as other time deposits comprising money market accounts and certificates of deposit.

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