First Trust Advisors LP boosted its position in Allegiance Bancshares Inc (NASDAQ:ABTX) by 21.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,126 shares of the bank’s stock after purchasing an additional 5,569 shares during the quarter. First Trust Advisors LP’s holdings in Allegiance Bancshares were worth $1,393,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Comerica Bank purchased a new position in shares of Allegiance Bancshares in the second quarter valued at about $1,346,000. Acadian Asset Management LLC purchased a new stake in shares of Allegiance Bancshares in the second quarter worth about $510,000. Callahan Advisors LLC lifted its position in shares of Allegiance Bancshares by 10.5% in the second quarter. Callahan Advisors LLC now owns 105,815 shares of the bank’s stock worth $4,587,000 after buying an additional 10,050 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Allegiance Bancshares in the second quarter worth about $194,000. Finally, Millennium Management LLC purchased a new stake in shares of Allegiance Bancshares in the first quarter worth about $848,000. Hedge funds and other institutional investors own 45.98% of the company’s stock.
NASDAQ:ABTX opened at $44.00 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $584.83 million, a P/E ratio of 27.85 and a beta of 1.81. Allegiance Bancshares Inc has a 12 month low of $34.00 and a 12 month high of $46.85.
Allegiance Bancshares (NASDAQ:ABTX) last posted its earnings results on Thursday, July 26th. The bank reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. The company had revenue of $29.62 million for 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%. equities research analysts anticipate that Allegiance Bancshares Inc will post 2.54 EPS for the current year.
In other Allegiance Bancshares news, Director Paul Michael Mann sold 5,889 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $45.09, for a total transaction of $265,535.01. Following the sale, the director now directly owns 35,020 shares of the company’s stock, valued at $1,579,051.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fred S. Robertson acquired 2,250 shares of Allegiance Bancshares stock in a transaction on Thursday, August 9th. The shares were bought at an average cost of $44.47 per share, for a total transaction of $100,057.50. Following the completion of the purchase, the director now directly owns 4,606 shares of the company’s stock, valued at $204,828.82. The disclosure for this purchase can be found here. Insiders sold 16,924 shares of company stock worth $763,828 over the last quarter. 12.74% of the stock is owned by company insiders.
Separately, BidaskClub upgraded Allegiance Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, June 1st.
Allegiance Bancshares Profile
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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