Stieven Capital Advisors L.P. Buys New Stake in Allegiance Bancshares, Inc. (ABTX)

Stieven Capital Advisors L.P. purchased a new stake in Allegiance Bancshares, Inc. (NASDAQ:ABTX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 164,994 shares of the bank’s stock, valued at approximately $6,072,000. Stieven Capital Advisors L.P. owned approximately 1.25% of Allegiance Bancshares at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in Allegiance Bancshares by 4.7% in the first quarter. Bank of America Corp DE now owns 5,351 shares of the bank’s stock valued at $199,000 after acquiring an additional 241 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new stake in Allegiance Bancshares in the second quarter valued at $239,000. California Public Employees Retirement System acquired a new stake in Allegiance Bancshares in the first quarter valued at $234,000. GSA Capital Partners LLP acquired a new stake in Allegiance Bancshares in the second quarter valued at $244,000. Finally, Voya Investment Management LLC raised its holdings in Allegiance Bancshares by 15.0% in the second quarter. Voya Investment Management LLC now owns 6,910 shares of the bank’s stock valued at $265,000 after acquiring an additional 899 shares in the last quarter. 40.21% of the stock is currently owned by hedge funds and other institutional investors.

ABTX has been the topic of several recent analyst reports. TheStreet raised shares of Allegiance Bancshares from a “c-” rating to a “b-” rating in a report on Tuesday, October 24th. Zacks Investment Research raised shares of Allegiance Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Keefe, Bruyette & Woods set a $42.00 price target on shares of Allegiance Bancshares and gave the company a “hold” rating in a report on Monday, August 28th. Finally, BidaskClub cut shares of Allegiance Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Allegiance Bancshares presently has an average rating of “Hold” and a consensus target price of $41.67.

In other Allegiance Bancshares news, insider Daryl D. Bohls sold 1,500 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $32.24, for a total transaction of $48,360.00. Following the sale, the insider now directly owns 7,927 shares of the company’s stock, valued at $255,566.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Umesh Jain sold 34,000 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $39.01, for a total transaction of $1,326,340.00. Following the sale, the director now directly owns 132,275 shares in the company, valued at $5,160,047.75. The disclosure for this sale can be found here. Insiders have sold 61,564 shares of company stock worth $2,386,720 over the last three months. 13.88% of the stock is owned by corporate insiders.

Shares of Allegiance Bancshares, Inc. (ABTX) opened at $38.35 on Friday. The stock has a market cap of $507.49, a price-to-earnings ratio of 25.50 and a beta of 2.42. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. Allegiance Bancshares, Inc. has a twelve month low of $30.20 and a twelve month high of $40.45.

Allegiance Bancshares (NASDAQ:ABTX) last issued its earnings results on Tuesday, October 24th. The bank reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.27). The business had revenue of $28.46 million for the quarter, compared to analyst estimates of $28.81 million. Allegiance Bancshares had a return on equity of 6.91% and a net margin of 16.88%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the company posted $0.42 earnings per share. equities analysts predict that Allegiance Bancshares, Inc. will post 1.59 EPS for the current fiscal year.

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About Allegiance Bancshares

Allegiance Bancshares, Inc is a bank holding company. Through its subsidiary, Allegiance Bank (the Bank), the Company provides a range of commercial banking services primarily to Houston metropolitan area-based small to medium-sized businesses, professionals and individual customers. In addition to banking during normal business hours, the Company offers extended drive-in hours, automated teller machines (ATMs) and banking by telephone, mail and Internet.

Institutional Ownership by Quarter for Allegiance Bancshares (NASDAQ:ABTX)

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