On Jan. 05, Williams Roland L. divested U.S. $66,940 in shares of Allegiance Bancshares Inc.. The Dir sold 2,000 shares at a price per share of $33.47. The transaction decreased this specific insider’s holdings to 106,519 shares worth around $3.99 million at present.
Janney launched its Allegiance Bancshares Inc. [ABTX] rating to the equivalent of a Neutral, in a research note dated October 02, 2020. Some new analysts also started their coverage, with Janney’s analysts assigning the shares to “a Neutral” rating in a research note to investors issued in early October. Meanwhile, Raymond James had lowered its rating on ABTX to “Mkt perform” from the earlier “an Outperform”, in a research note produced for clients October 28, 2019. In addition, there was a downgrade from Raymond James on April 29, 2019. The rater changed ABTX from “a Strong buy” to “an Outperform”.
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Is Allegiance Bancshares Inc. [NASDAQ:ABTX] a Good Buy Right Now?
It should be noted that ABTX technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 80% Buy in the last week and compares with 100% Buy in the past month. Data from Allegiance Bancshares Inc.’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 89505.0 shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 69042.0 shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 60205.0 shares.
ABTX Price Performance
On Wall Street, Allegiance Bancshares Inc. [NASDAQ:ABTX] finished Thursday’s session up 1.49% at $37.44. The stock went up to $37.83 at the same session while its lowest single day price was $37.20. In the last five days, it saw a rise of about 10.87%, Allegiance Bancshares Inc. shares gained by almost 9.70% since the beginning of the year. However, the share price has dropped to as low as -3.88% below its one year high. On 01/07/21, the company shares recorded $37.83, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $33.33. The company’s shares have declined by -0.29% in the past year. The 50-day SMA achieved is $32.33 while the 200-day SMA is $26.58. Volume dropped to 59719.0 from 0.19 million in the previous session.
Allegiance Bancshares Inc. [ABTX] Valuation Measures
Notably, Allegiance Bancshares Inc. [ABTX] stock cannot be classified as a good candidate in the listing of underestimated low-priced Banks – Regional companies to purchase soonest possible with the prevailing 12-month PE ratio of 17.75. The measure means the stock is exchanging at a premium as compared to the 11.75x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 3.20 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.42 which means ABTX serve an unattractive investment opportunity compared to its competitors.
ABTX Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 37.15 level, and in case of violation of this particular level, it will cause more drop to 36.86 level. On the upper level, 38.12 is still the key resistance. The stock may increase to the subsequent resistance at 37.78. The Relative Strength Index (RSI) pinned on the 14-day chart is 72.67, implying a overbought technical stance while the MACD stands at 2.01, meaning price will increase in the next trading period. Percent R indicator moved to 7.34%, implying bullish price movement. Stochastic %K at 80.67% suggest selling the stock.
What is the short interest in Allegiance Bancshares Inc.?
Short interest in the Allegiance Bancshares Inc. stock has plunged, decreasing by 43100.0 shares to total 0.31 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.26 million, data from Yahoo Finance shows. The increase of 14.05% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.95% of the overall float for the stock.
Allegiance Bancshares Inc.’s Biggest Shareholders: Who Owns Allegiance Bancshares Inc. [ABTX]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 2,659,378 shares or roughly 13.01% of the outstanding ABTX shares. This means their shares have reduced by -42,141 from the 2,659,378 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $37,327,393. Details in the latest 13F filings reveal that Dimensional Fund Advisors LP acquired their 2.47% stake valued at $28,409,246 while SSgA Funds Management, Inc. cut theirs at $20,143,992. During the last quarter, Dimensional Fund Advisors LP raised 21,592 of its shares in Allegiance Bancshares Inc. while SSgA Funds Management, Inc. sold -32,136 shares. The Geode Capital Management LLC’s holdings currently number 298,929 shares at $11191901.76. According to the firm’s last 13F report, Northern Trust Investments, Inc. shares in the company at filing stood at 236,442 shares, roughly $7,485,754.
ABTX Earnings Forecast For The Current Quarter
Allegiance Bancshares Inc. [ABTX] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $55.89M and an earnings per share of $0.71 for Dec 2020. Looking further ahead, the company is expected to report revenue of $58.93M at an EPS of $0.87 for Mar 2021. The estimates represent upside of 1.60% and 12.29% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
ABTX Earnings Estimates For The Current Year
For the financial year, Allegiance Bancshares Inc. [NASDAQ:ABTX] is expected to bring in revenue of $210.82M. The returns are nearly $17.86 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 2.15, lower than that of FY19 by -$0.32. Estimates put this year’s earnings growth at -13.00%, 12.10% for the next. As for sales, forecasts are for an increase of 9.30% in the current fiscal year and a further 1.60% over the following year.
What are analyst thoughts on Allegiance Bancshares Inc.?
Looking forward to the Allegiance Bancshares Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Allegiance Bancshares Inc. stock at $34.00 within the next 12 months, which represents almost -10.12 per cent growth from its previous closing price of $37.44. The highest analysts’ target for Allegiance Bancshares Inc. stock projections is $37.00 and the lowest one is $32.00. Still, 5 analysts sharing their consensus rating for ABTX stock in 2021 agree that it is a Hold.