$0.63 EPS Expected for Allegiance Bancshares Inc (ABTX) This Quarter

Equities research analysts forecast that Allegiance Bancshares Inc (NASDAQ:ABTX) will post earnings of $0.63 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Allegiance Bancshares’ earnings, with the highest EPS estimate coming in at $0.65 and the lowest estimate coming in at $0.61. Allegiance Bancshares posted earnings per share of $0.57 in the same quarter last year, which would suggest a positive year over year growth rate of 10.5%. The company is scheduled to report its next quarterly earnings results on Thursday, April 25th.

According to Zacks, analysts expect that Allegiance Bancshares will report full-year earnings of $2.85 per share for the current financial year, with EPS estimates ranging from $2.81 to $2.90. For the next financial year, analysts forecast that the company will post earnings of $3.17 per share, with EPS estimates ranging from $3.12 to $3.23. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Allegiance Bancshares.

Allegiance Bancshares (NASDAQ:ABTX) last announced its quarterly earnings data on Friday, January 25th. The bank reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.05). The firm had revenue of $48.17 million for the quarter, compared to the consensus estimate of $46.96 million. Allegiance Bancshares had a return on equity of 9.55% and a net margin of 22.48%.

A number of analysts recently issued reports on the company. Zacks Investment Research cut Allegiance Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. Raymond James set a $43.00 price target on Allegiance Bancshares and gave the company a “buy” rating in a report on Thursday, February 28th. Brean Capital started coverage on Allegiance Bancshares in a research report on Friday, March 1st. They set a “hold” rating and a $38.26 price objective on the stock. Finally, BidaskClub upgraded Allegiance Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $39.32.

NASDAQ ABTX opened at $35.35 on Monday. Allegiance Bancshares has a 52-week low of $28.58 and a 52-week high of $46.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $761.99 million, a P/E ratio of 14.03 and a beta of 1.57.

In related news, CEO George Martinez sold 15,000 shares of Allegiance Bancshares stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $36.50, for a total value of $547,500.00. Following the transaction, the chief executive officer now directly owns 1,000 shares of the company’s stock, valued at $36,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Umesh Jain sold 18,273 shares of Allegiance Bancshares stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $38.05, for a total value of $695,287.65. Following the completion of the transaction, the director now directly owns 130,473 shares in the company, valued at $4,964,497.65. The disclosure for this sale can be found here. Insiders sold 36,561 shares of company stock worth $1,367,567 over the last ninety days. 10.17% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Legal & General Group Plc increased its holdings in Allegiance Bancshares by 34.0% in the fourth quarter. Legal & General Group Plc now owns 2,249 shares of the bank’s stock worth $73,000 after purchasing an additional 571 shares in the last quarter. Quantamental Technologies LLC bought a new stake in Allegiance Bancshares in the fourth quarter worth approximately $29,000. Dimensional Fund Advisors LP increased its holdings in Allegiance Bancshares by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 268,112 shares of the bank’s stock worth $8,678,000 after purchasing an additional 1,106 shares in the last quarter. Deutsche Bank AG increased its holdings in Allegiance Bancshares by 4.5% in the fourth quarter. Deutsche Bank AG now owns 36,918 shares of the bank’s stock worth $1,193,000 after purchasing an additional 1,579 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. increased its holdings in shares of Allegiance Bancshares by 12.0% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 19,468 shares of the bank’s stock valued at $630,000 after acquiring an additional 2,090 shares in the last quarter. Institutional investors and hedge funds own 30.16% 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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