Zacks: Analysts Expect Allegiance Bancshares, Inc. (NASDAQ:ABTX) to Post Earnings of $0.65 Per Share


Brokers expect Allegiance Bancshares, Inc. (NASDAQ:ABTX – Get Rating) to report earnings per share (EPS) of $0.65 for the current fiscal quarter, according to Zacks. Three analysts have released earnings estimates for Allegiance Bancshares, with estimates ranging from $0.20 to $0.92. Allegiance Bancshares reported earnings of $1.12 per share in the same quarter last year, suggesting a negative 42% year-over-year growth rate. The company is due to announce its next earnings report on Monday, January 1.

On average, analysts expect Allegiance Bancshares to report annual earnings of $2.51 per share for the current fiscal year, with EPS estimates ranging from $2.20 to $2.81. For next year, analysts expect the company to report earnings of $2.69 per share, with EPS estimates ranging from $2.65 to $2.72. Zacks Investment Research EPS averages are an average average based on a survey of research firms that provide coverage for Allegiance Bancshares.

ABTX has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Allegiance Bancshares from a “hold” rating to a “buy” rating and set a target price of $47.00 for the company in a Thursday, May 5 research note. StockNews.com launched coverage on Allegiance Bancshares in a research note on Thursday, March 31. They issued a “holding” rating for the company.

The NASDAQ ABTX traded down $0.57 on Friday, hitting $40.33. The company had a trading volume of 877 shares, compared to its average volume of 71,330. The stock’s 50-day moving average is $41.60 and its 200-day moving average is $42.48 . The stock has a market capitalization of $821.84 million, a price-earnings ratio of 10.03 and a beta of 0.92. Allegiance Bancshares has a 52 week minimum of $34.30 and a 52 week maximum of $46.00.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15. Shareholders of record on Tuesday, May 31 will receive a dividend of $0.14 per share. The ex-dividend date is Friday, May 27. This represents an annualized dividend of $0.56 and a dividend yield of 1.39%. Allegiance Bancshares’ dividend payout ratio is currently 13.93%.

Several hedge funds have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in shares of Allegiance Bancshares during the first quarter worth approximately $201,000. Royal Bank of Canada increased its position in Allegiance Bancshares shares by 17.0% during the first quarter. Royal Bank of Canada now owns 190,493 shares of the bank worth $8,512,000 after purchasing an additional 27,642 shares during the period. Captrust Financial Advisors increased its position in Allegiance Bancshares shares by 82.4% during the first quarter. Captrust Financial Advisors now owns 1,474 shares of the bank worth $66,000 after purchasing an additional 666 shares during the period. Wellington Management Group LLP increased its position in Allegiance Bancshares shares by 45.5% during the first quarter. Wellington Management Group LLP now owns 226,803 shares of the bank worth $10,134,000 after purchasing an additional 70,891 shares during the period. Finally, State Street Corp increased its position in shares of Allegiance Bancshares by 5.4% during the first quarter. State Street Corp now owns 819,915 shares of the bank worth $36,634,000 after purchasing an additional 41,841 shares during the period. 54.57% of the shares are held by institutional investors.

About Allegiance Bancshares (Get a rating)

Allegiance Bancshares, Inc operates as a bank holding company for Allegiance Bank which provides a range of commercial banking services primarily to small and medium-sized businesses, professionals and individuals. It accepts deposit products, including checking accounts, business accounts, money market accounts, savings accounts and other term deposits; and certificates of deposit.

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Earnings history and estimates for Allegiance Bancshares (NASDAQ:ABTX)



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