Brokerages forecast that Allegiance Bancshares Inc (NASDAQ:ABTX) will post earnings per share of $0.67 for the current quarter, according to Zacks. Two analysts have issued estimates for Allegiance Bancshares’ earnings, with estimates ranging from $0.63 to $0.70. Allegiance Bancshares reported earnings per share of $0.51 during the same quarter last year, which suggests a positive year-over-year growth rate of 31.4%. The company is scheduled to issue its next earnings results on Thursday, January 24th.
According to Zacks, analysts expect that Allegiance Bancshares will report full-year earnings of $2.56 per share for the current financial year, with EPS estimates ranging from $2.48 to $2.65. For the next year, analysts expect that the business will report earnings of $2.93 per share, with EPS estimates ranging from $2.81 to $3.10. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Allegiance Bancshares.
Allegiance Bancshares (NASDAQ:ABTX) last posted its quarterly earnings data on Thursday, October 25th. The bank reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. The firm had revenue of $29.96 million for the quarter, compared to analysts’ expectations of $30.55 million. Allegiance Bancshares had a return on equity of 10.35% and a net margin of 19.41%.
ABTX has been the topic of several recent research reports. Zacks Investment Research upgraded Allegiance Bancshares from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Wednesday, September 26th. Raymond James lowered their price objective on Allegiance Bancshares from $48.00 to $46.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 26th. BidaskClub cut Allegiance Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 10th. Finally, Stephens cut Allegiance Bancshares from an “overweight” rating to an “equal” rating and lowered their price objective for the stock from $51.00 to $41.00 in a research report on Friday, October 26th.
In related news, Director Frances H. Jeter purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 30th. The shares were bought at an average price of $38.05 per share, for a total transaction of $114,150.00. Following the completion of the transaction, the director now owns 10,860 shares of the company’s stock, valued at $413,223. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.74% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank bought a new position in shares of Allegiance Bancshares in the second quarter worth $1,346,000. Dimensional Fund Advisors LP increased its position in shares of Allegiance Bancshares by 34.6% in the second quarter. Dimensional Fund Advisors LP now owns 231,709 shares of the bank’s stock worth $10,045,000 after purchasing an additional 59,588 shares during the period. Bank of New York Mellon Corp increased its position in shares of Allegiance Bancshares by 3.9% in the second quarter. Bank of New York Mellon Corp now owns 55,654 shares of the bank’s stock worth $2,413,000 after purchasing an additional 2,084 shares during the period. First Trust Advisors LP increased its position in shares of Allegiance Bancshares by 21.0% in the second quarter. First Trust Advisors LP now owns 32,126 shares of the bank’s stock worth $1,393,000 after purchasing an additional 5,569 shares during the period. Finally, Royce & Associates LP increased its position in shares of Allegiance Bancshares by 15.9% in the second quarter. Royce & Associates LP now owns 109,300 shares of the bank’s stock worth $4,738,000 after purchasing an additional 15,000 shares during the period. Institutional investors own 28.98% of the company’s stock.
ABTX stock opened at $35.00 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm has a market cap of $769.40 million, a price-to-earnings ratio of 22.15 and a beta of 1.64. Allegiance Bancshares has a fifty-two week low of $33.05 and a fifty-two week high of $46.85.
Allegiance Bancshares Company 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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