Allegiance Bancshares, Inc. (NASDAQ:ABTX) Increases Dividend to $0.12 Per Share

Allegiance Bancshares, Inc. (NASDAQ:ABTX) announced a quarterly dividend on Friday, January 29th, Wall Street Journal reports. Stockholders of record on Friday, February 26th will be given a dividend of 0.12 per share by the bank on Monday, March 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, February 25th. This is an increase from Allegiance Bancshares’s previous quarterly dividend of $0.10.

Allegiance Bancshares has a payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Allegiance Bancshares to earn $2.43 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 19.8%.

NASDAQ ABTX opened at $37.71 on Tuesday. The stock has a market capitalization of $771.09 million, a price-to-earnings ratio of 17.87 and a beta of 1.20. Allegiance Bancshares has a one year low of $20.88 and a one year high of $38.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.98 and a quick ratio of 0.98. The business’s fifty day moving average is $36.40 and its 200-day moving average is $30.46.

Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings data on Wednesday, January 27th. The bank reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.06. Allegiance Bancshares had a return on equity of 6.00% and a net margin of 17.69%. The company had revenue of $56.92 million during the quarter, compared to analyst estimates of $55.13 million. Research analysts expect that Allegiance Bancshares will post 2.15 EPS for the current fiscal year.

Separately, TheStreet raised Allegiance Bancshares from a “c+” rating to a “b” rating in a report on Monday, November 2nd. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Allegiance Bancshares currently has a consensus rating of “Hold” and an average price target of $26.33.

In related news, Director Roland L. Williams sold 2,000 shares of the company’s stock in a transaction on Tuesday, January 12th. The shares were sold at an average price of $36.82, for a total value of $73,640.00. Following the completion of the transaction, the director now directly owns 104,519 shares in the company, valued at $3,848,389.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roland L. Williams sold 1,600 shares of the company’s stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $36.89, for a total transaction of $59,024.00. Following the completion of the transaction, the director now owns 98,119 shares of the company’s stock, valued at $3,619,609.91. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock valued at $431,364 in the last ninety days. Insiders own 8.57% of the company’s stock.

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

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Dividend History for Allegiance Bancshares (NASDAQ:ABTX)

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