Allegiance Bancshares (ABTX) Scheduled to Post Quarterly Earnings on Thursday

Allegiance Bancshares (NASDAQ:ABTX) will post its quarterly earnings results before the market opens on Thursday, October 25th. Analysts expect Allegiance Bancshares to post earnings of $0.64 per share for the quarter.

Allegiance Bancshares (NASDAQ:ABTX) last posted its quarterly earnings data on Thursday, July 26th. The bank reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.06. The firm had revenue of $29.62 million during the quarter, compared to the consensus estimate of $30.06 million. Allegiance Bancshares had a return on equity of 8.66% and a net margin of 15.77%. On average, analysts expect Allegiance Bancshares to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

ABTX opened at $40.71 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.86. The company has a market cap of $557.43 million, a price-to-earnings ratio of 25.77 and a beta of 1.84. Allegiance Bancshares has a 52 week low of $36.10 and a 52 week high of $46.85.

Several analysts have commented on the company. BidaskClub raised Allegiance Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, July 21st. Zacks Investment Research raised Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Wednesday, September 26th. Finally, Raymond James assumed coverage on Allegiance Bancshares in a research note on Tuesday, October 2nd. They set a “strong-buy” rating and a $48.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $46.67.

In other news, Director Paul Michael Mann sold 10,635 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $45.16, for a total transaction of $480,276.60. Following the completion of the transaction, the director now directly owns 40,049 shares of the company’s stock, valued at approximately $1,808,612.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Fred S. Robertson bought 2,250 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were acquired at an average cost of $44.47 per share, with a total value of $100,057.50. Following the completion of the purchase, the director now owns 4,606 shares in the company, valued at approximately $204,828.82. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 16,924 shares of company stock valued at $763,828. 12.74% of the stock is owned by company insiders.

A hedge fund recently raised its stake in Allegiance Bancshares stock. Bank of New York Mellon Corp lifted its holdings in shares of Allegiance Bancshares Inc (NASDAQ:ABTX) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,654 shares of the bank’s stock after buying an additional 2,084 shares during the period. Bank of New York Mellon Corp owned about 0.42% of Allegiance Bancshares worth $2,413,000 at the end of the most recent reporting period. Institutional investors own 45.98% of the company’s stock.

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

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Earnings History for Allegiance Bancshares (NASDAQ:ABTX)

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