Short Interest in Allegiance Bancshares Inc (NASDAQ:ABTX) Grows By 13.2%

Allegiance Bancshares Inc (NASDAQ:ABTX) was the recipient of a significant increase in short interest during the month of November. As of November 29th, there was short interest totalling 1,720,000 shares, an increase of 13.2% from the November 14th total of 1,520,000 shares. Currently, 9.1% of the shares of the stock are short sold. Based on an average trading volume of 273,800 shares, the short-interest ratio is currently 6.3 days.

In other Allegiance Bancshares news, Director William S. Nichols III sold 11,600 shares of Allegiance Bancshares stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $35.26, for a total value of $409,016.00. Following the transaction, the director now owns 2,900 shares in the company, valued at $102,254. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Roland L. Williams sold 2,000 shares of Allegiance Bancshares stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $32.79, for a total value of $65,580.00. Following the completion of the transaction, the director now owns 152,468 shares in the company, valued at approximately $4,999,425.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,768 shares of company stock worth $653,044. Company insiders own 10.17% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ABTX. BlackRock Inc. grew its holdings in shares of Allegiance Bancshares by 58.3% during the second quarter. BlackRock Inc. now owns 1,077,495 shares of the bank’s stock worth $35,924,000 after purchasing an additional 396,835 shares during the last quarter. Banc Funds Co. LLC grew its holdings in shares of Allegiance Bancshares by 25.6% during the second quarter. Banc Funds Co. LLC now owns 408,758 shares of the bank’s stock worth $13,628,000 after purchasing an additional 83,226 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Allegiance Bancshares during the second quarter worth about $2,744,000. Context BH Capital Management LP grew its holdings in shares of Allegiance Bancshares by 812.3% during the second quarter. Context BH Capital Management LP now owns 83,150 shares of the bank’s stock worth $2,772,000 after purchasing an additional 74,036 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Allegiance Bancshares by 15.2% during the third quarter. State Street Corp now owns 357,512 shares of the bank’s stock worth $11,473,000 after purchasing an additional 47,113 shares during the last quarter. Institutional investors own 36.04% of the company’s stock.

NASDAQ:ABTX opened at $36.99 on Friday. The stock has a market cap of $755.63 million, a P/E ratio of 14.68 and a beta of 1.41. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The stock’s 50-day moving average is $35.20 and its 200-day moving average is $33.66. Allegiance Bancshares has a 1-year low of $28.58 and a 1-year high of $38.95.

Allegiance Bancshares (NASDAQ:ABTX) last released its quarterly earnings results on Friday, October 25th. The bank reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.12). The firm had revenue of $47.73 million for the quarter, compared to the consensus estimate of $49.00 million. Allegiance Bancshares had a return on equity of 7.65% and a net margin of 21.42%. As a group, equities analysts forecast that Allegiance Bancshares will post 2.5 EPS for the current year.

A number of research analysts have issued reports on ABTX shares. Zacks Investment Research upgraded Allegiance Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th. ValuEngine cut Allegiance Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Raymond James cut Allegiance Bancshares from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. Finally, BidaskClub upgraded Allegiance Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, November 25th. Six research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average price target of $37.82.

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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