Allegiance Bancshares Inc (NASDAQ:ABTX) Director Umesh Jain Sells 7,313 Shares

Allegiance Bancshares Inc (NASDAQ:ABTX) Director Umesh Jain sold 7,313 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $32.15, for a total transaction of $235,112.95. Following the transaction, the director now owns 23,741 shares in the company, valued at $763,273.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

  • On Friday, June 21st, Umesh Jain sold 1,770 shares of Allegiance Bancshares stock. The shares were sold at an average price of $33.21, for a total transaction of $58,781.70.
  • On Monday, June 24th, Umesh Jain sold 3,692 shares of Allegiance Bancshares stock. The shares were sold at an average price of $33.21, for a total transaction of $122,611.32.

Allegiance Bancshares stock traded down $0.94 during trading hours on Wednesday, reaching $31.48. 51,095 shares of the company’s stock traded hands, compared to its average volume of 79,463. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.04 and a quick ratio of 1.04. Allegiance Bancshares Inc has a fifty-two week low of $28.58 and a fifty-two week high of $45.90. The company has a market cap of $689.34 million, a price-to-earnings ratio of 12.45 and a beta of 1.40. The business’s 50 day moving average price is $33.27.

Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings results on Friday, July 26th. The bank reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $49.42 million during the quarter, compared to analysts’ expectations of $48.20 million. Allegiance Bancshares had a return on equity of 8.32% and a net margin of 22.35%. On average, analysts forecast that Allegiance Bancshares Inc will post 2.69 EPS for the current fiscal year.

A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Allegiance Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, July 1st. Stephens restated a “hold” rating and set a $36.00 target price on shares of Allegiance Bancshares in a research report on Monday, April 29th. BidaskClub upgraded shares of Allegiance Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Raymond James set a $38.00 target price on shares of Allegiance Bancshares and gave the company a “buy” rating in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $37.82.

Several hedge funds have recently made changes to their positions in ABTX. Bank of New York Mellon Corp increased its stake 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 during the last quarter. Northern Trust Corp increased its stake in shares of Allegiance Bancshares by 4.1% in the 4th quarter. Northern Trust Corp now owns 160,680 shares of the bank’s stock valued at $5,201,000 after acquiring an additional 6,282 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of Allegiance Bancshares by 13.0% in the 4th quarter. Geode Capital Management LLC now owns 152,593 shares of the bank’s stock valued at $4,939,000 after acquiring an additional 17,512 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Allegiance Bancshares by 372.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,275 shares of the bank’s stock valued at $138,000 after acquiring an additional 3,371 shares during the last quarter. 31.77% of the stock is owned by institutional investors.

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

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Insider Buying and Selling by Quarter for Allegiance Bancshares (NASDAQ:ABTX)

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