PNC Financial Services Group Inc. lowered its stake in Allegiance Bancshares Inc (NASDAQ:ABTX) by 4.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 236,773 shares of the bank’s stock after selling 10,954 shares during the period. PNC Financial Services Group Inc. owned approximately 1.77% of Allegiance Bancshares worth $10,265,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its holdings in Allegiance Bancshares by 10.7% in the 1st quarter. Wells Fargo & Company MN now owns 17,677 shares of the bank’s stock valued at $692,000 after purchasing an additional 1,711 shares during the period. Northern Trust Corp boosted its holdings in Allegiance Bancshares by 2.2% in the 1st quarter. Northern Trust Corp now owns 137,116 shares of the bank’s stock valued at $5,368,000 after purchasing an additional 2,925 shares during the period. Teton Advisors Inc. bought a new stake in Allegiance Bancshares in the 1st quarter valued at about $2,654,000. Dimensional Fund Advisors LP boosted its holdings in Allegiance Bancshares by 37.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 172,121 shares of the bank’s stock valued at $6,739,000 after purchasing an additional 47,276 shares during the period. Finally, EJF Capital LLC bought a new stake in Allegiance Bancshares in the 1st quarter valued at about $3,915,000. Institutional investors and hedge funds own 45.98% of the company’s stock.
In other news, Director Paul Michael Mann sold 10,635 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $45.16, for a total transaction of $480,276.60. Following the completion of the sale, the director now owns 40,049 shares of the company’s stock, valued at approximately $1,808,612.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Fred S. Robertson purchased 2,250 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were purchased at an average cost of $44.47 per share, with a total value of $100,057.50. Following the acquisition, the director now owns 4,606 shares in the company, valued at approximately $204,828.82. The disclosure for this purchase can be found here. Insiders sold a total of 16,924 shares of company stock valued at $763,828 in the last three months. Insiders own 12.74% of the company’s stock.
NASDAQ ABTX opened at $44.40 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $594.86 million, a price-to-earnings ratio of 28.10 and a beta of 1.81. Allegiance Bancshares Inc has a 12-month low of $31.75 and a 12-month high of $46.85.
Allegiance Bancshares (NASDAQ:ABTX) last posted its quarterly earnings data on Thursday, July 26th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.06. The firm had revenue of $29.62 million during the quarter, compared to the consensus estimate of $30.06 million. Allegiance Bancshares had a net margin of 15.77% and a return on equity of 8.66%. research analysts forecast that Allegiance Bancshares Inc will post 2.54 EPS for the current fiscal year.
Separately, BidaskClub raised shares of Allegiance Bancshares from a “hold” rating to a “buy” rating in a report on Friday, June 1st.
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, savings accounts, and other time deposits comprising money market accounts and certificates of deposit.
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