Allegiance Bancshares Inc (ABTX) Director Sells $695,287.65 in Stock

Allegiance Bancshares Inc (NASDAQ:ABTX) Director Umesh Jain sold 18,273 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $38.05, for a total value of $695,287.65. Following the completion of the transaction, the director now owns 130,473 shares of the company’s stock, valued at approximately $4,964,497.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Umesh Jain also recently made the following trade(s):

Get Allegiance Bancshares alerts: On Monday, February 25th, Umesh Jain sold 2,288 shares of Allegiance Bancshares stock. The stock was sold at an average price of $38.47, for a total value of $88,019.36.

Shares of NASDAQ ABTX opened at $38.12 on Friday. Allegiance Bancshares Inc has a 52 week low of $28.58 and a 52 week high of $46.85. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $835.54 million, a price-to-earnings ratio of 15.19 and a beta of 1.60.

Allegiance Bancshares (NASDAQ:ABTX) last issued its earnings results on Friday, January 25th. The bank reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). Allegiance Bancshares had a return on equity of 12.41% and a net margin of 22.48%. The company had revenue of $48.17 million during the quarter, compared to the consensus estimate of $46.96 million. On average, equities analysts forecast that Allegiance Bancshares Inc will post 2.89 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its holdings in shares of Allegiance Bancshares by 34.0% in the 4th quarter. Legal & General Group Plc now owns 2,249 shares of the bank’s stock valued at $73,000 after acquiring an additional 571 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Allegiance Bancshares in the 4th quarter valued at about $29,000. Dimensional Fund Advisors LP raised its holdings in shares of Allegiance Bancshares by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 268,112 shares of the bank’s stock valued at $8,678,000 after acquiring an additional 1,106 shares in the last quarter. Campbell Newman Asset Management Inc. raised its holdings in shares of Allegiance Bancshares by 12.0% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 19,468 shares of the bank’s stock valued at $630,000 after acquiring an additional 2,090 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Allegiance Bancshares by 5.2% in the 4th quarter. Bank of New York Mellon Corp now owns 59,830 shares of the bank’s stock valued at $1,937,000 after acquiring an additional 2,935 shares in the last quarter. 30.45% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have commented on ABTX. Zacks Investment Research downgraded Allegiance Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. BidaskClub upgraded Allegiance Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. Raymond James set a $43.00 target price on Allegiance Bancshares and gave the stock a “buy” rating in a research note on Thursday. Brean Capital began coverage on Allegiance Bancshares in a research note on Friday. They issued a “hold” rating and a $38.26 target price for the company. Finally, ValuEngine upgraded Allegiance Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $39.32.

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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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