Wall Street brokerages forecast that Allegiance Bancshares, Inc. (NASDAQ:ABTX – Get Rating) will post earnings per share (EPS) of $0.84 for the current quarter, Zacks reports. Three analysts have provided estimates for Allegiance Bancshares’ earnings, with estimates ranging from $0.82 to $0.86. Allegiance Bancshares reported earnings per share of $0.89 during the same quarter last year, which would indicate a negative year over year growth rate of 5.6%. The firm is scheduled to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Allegiance Bancshares will report full year earnings of $2.28 per share for the current financial year, with EPS estimates ranging from $1.96 to $2.59. For the next financial year, analysts forecast that the company will report earnings of $2.57 per share, with EPS estimates ranging from $2.50 to $2.64. Zacks’ EPS averages are an average based on a survey of research analysts that cover Allegiance Bancshares.
Allegiance Bancshares (NASDAQ:ABTX – Get Rating) last issued its earnings results on Friday, January 28th. The bank reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.09. Allegiance Bancshares had a return on equity of 10.31% and a net margin of 31.16%. The company had revenue of $60.56 million for the quarter, compared to analysts’ expectations of $59.93 million.
ABTX has been the topic of several recent analyst reports. Zacks Investment Research upgraded Allegiance Bancshares from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, February 2nd. StockNews.com assumed coverage on Allegiance Bancshares in a report on Thursday. They issued a “hold” rating for the company.
A number of institutional investors have recently made changes to their positions in ABTX. BlackRock Inc. increased its stake in shares of Allegiance Bancshares by 1.2% during the fourth quarter. BlackRock Inc. now owns 2,995,553 shares of the bank’s stock valued at $126,442,000 after buying an additional 36,612 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Allegiance Bancshares by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 941,975 shares of the bank’s stock worth $39,762,000 after acquiring an additional 28,998 shares in the last quarter. State Street Corp boosted its holdings in Allegiance Bancshares by 2.6% in the fourth quarter. State Street Corp now owns 778,074 shares of the bank’s stock worth $32,843,000 after acquiring an additional 19,595 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Allegiance Bancshares by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 343,381 shares of the bank’s stock worth $14,494,000 after acquiring an additional 7,944 shares in the last quarter. Finally, Versor Investments LP bought a new position in shares of Allegiance Bancshares during the fourth quarter valued at $13,003,000. 52.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of ABTX traded down $0.15 during trading hours on Friday, reaching $44.68. The stock had a trading volume of 157,290 shares, compared to its average volume of 71,405. Allegiance Bancshares has a 12 month low of $34.30 and a 12 month high of $46.00. The firm has a 50-day simple moving average of $43.64 and a 200 day simple moving average of $41.75. The company has a market capitalization of $910.00 million, a price-to-earnings ratio of 11.21 and a beta of 0.92.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Monday, February 28th were given a $0.14 dividend. This is an increase from Allegiance Bancshares’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 25th. This represents a $0.56 dividend on an annualized basis and a yield of 1.25%. Allegiance Bancshares’s payout ratio is presently 14.00%.
Allegiance Bancshares Company Profile (Get Rating)
Allegiance Bancshares, Inc operates as a bank holding company. It engages in the provision of commercial banking services primarily to Houston metropolitan area-based small to medium-sized businesses and individual customers. The company was founded by George Martinez and Steven F. Retzloff in 2007 and is headquartered in Houston, TX.
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