Bancshares Allegiance (NASDAQ: ABTX) has been downgraded from Zacks investment research from a “keep” note to a “sell” note in a research note published on Tuesday, Zacks.com reports.
According to Zacks, “Allegiance Bancshares, Inc. operates like a bank holding company. The company provides banking products and services primarily to small and medium-sized businesses and individuals through its subsidiaries. It offers checking accounts, savings accounts, certificates of deposit, bank by mail, cashier’s checks, travelers’ checks, gift cards, savings certificates, personal loans, auto loans, business loans, mortgages, home improvement loans, online banking, safes and ATMs. , Inc. is headquartered in Houston, Texas. “
Allegiance Bancshares Actions traded at $ 0.34 during trading hours on Tuesday, reaching $ 40.70. 3,747 shares of the stock traded for an average volume of 64,427. The company’s 50-day moving average price is $ 40.60 and its 200-day moving average price is $ 38.77. The stock has a market cap of $ 824.05 million, a price-to-earnings ratio of 10.97 and a beta of 1.00. Allegiance Bancshares has a one-year minimum at $ 32.45 and a one-year maximum at $ 45.91.
Allegiance Bancshares (NASDAQ: ABTX) last released its quarterly results on Wednesday, October 27. The bank reported earnings of $ 0.93 per share for the quarter, missing Thomson Reuters’ consensus estimate of $ 1.00 ($ 0.07). Allegiance Bancshares generated a net margin of 29.13% and a return on equity of 9.78%. During the same period of the previous year, the company posted $ 0.79 in EPS. Sell-side analysts expect Allegiance Bancshares to post earnings per share of 3.95 for the current year.
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Institutional investors and hedge funds have recently changed their holdings in the company. Cubist Systematic Strategies LLC purchased a new equity stake in Allegiance Bancshares in the first quarter valued at approximately $ 225,000. DE Shaw & Co. Inc. acquired a new position in Allegiance Bancshares during the first quarter valued at approximately $ 232,000. Sheets Smith Wealth Management purchased a new position in Allegiance Bancshares during the second quarter valued at approximately $ 220,000. Bank of Montreal Can increased its position in Allegiance Bancshares by 33.3% during the second quarter. Bank of Montreal Can now owns 5,982 shares of the bank valued at $ 237,000 after purchasing an additional 1,493 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY strengthened its position in Allegiance Bancshares by 108,600.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 6,522 shares of the bank valued at $ 251,000 after purchasing an additional 6,516 shares in the last quarter. Hedge funds and other institutional investors hold 49.84% of the company’s shares.
Allegiance Bancshares Company Profile
Allegiance Bancshares, Inc. operates as a bank holding company. It provides commercial banking services primarily to small to medium-sized businesses in the greater Houston area and to individuals. The company was founded by George Martinez and Steven F. Retzloff in 2007 and is headquartered in Houston, Texas.
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