Swiss National Bank boosted its holdings in shares of Allegiance Bancshares Inc (NASDAQ:ABTX) by 5.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,400 shares of the bank’s stock after purchasing an additional 1,100 shares during the period. Swiss National Bank owned 0.10% of Allegiance Bancshares worth $747,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan acquired a new stake in Allegiance Bancshares during the 2nd quarter valued at $449,000. Aperio Group LLC acquired a new stake in Allegiance Bancshares during the 2nd quarter valued at $55,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Allegiance Bancshares by 101.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,640 shares of the bank’s stock valued at $55,000 after purchasing an additional 826 shares in the last quarter. Doliver Advisors LP acquired a new stake in Allegiance Bancshares during the 2nd quarter valued at $331,000. Finally, Campbell Newman Asset Management Inc. increased its holdings in Allegiance Bancshares by 7.3% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 21,429 shares of the bank’s stock valued at $714,000 after purchasing an additional 1,454 shares in the last quarter. 33.18% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Louis A. Jr. Waters sold 3,600 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $34.15, for a total value of $122,940.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Umesh Jain sold 3,692 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $33.21, for a total value of $122,611.32. Following the completion of the transaction, the director now owns 81,531 shares in the company, valued at $2,707,644.51. The disclosure for this sale can be found here. Insiders sold a total of 101,240 shares of company stock valued at $3,276,925 over the last three months. Insiders own 10.17% of the company’s stock.

Shares of NASDAQ ABTX traded up $0.11 during midday trading on Friday, hitting $36.15. The stock had a trading volume of 1,304 shares, compared to its average volume of 71,076. The company’s 50-day simple moving average is $32.66 and its 200 day simple moving average is $34.26. The firm has a market cap of $736.10 million, a P/E ratio of 14.36 and a beta of 1.40. Allegiance Bancshares Inc has a fifty-two week low of $28.58 and a fifty-two week high of $45.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.04 and a quick ratio of 1.04.

Allegiance Bancshares (NASDAQ:ABTX) last released its earnings results on Friday, July 26th. The bank reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The company had revenue of $49.42 million during the quarter, compared to analysts’ expectations of $48.20 million. Allegiance Bancshares had a return on equity of 8.32% and a net margin of 22.35%. Equities analysts expect that Allegiance Bancshares Inc will post 2.61 EPS for the current fiscal year.

Several research firms have recently commented on ABTX. Zacks Investment Research raised Allegiance Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, July 1st. ValuEngine raised Allegiance Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Raymond James set a $38.00 target price on Allegiance Bancshares and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, BidaskClub raised Allegiance Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Allegiance Bancshares presently has a consensus rating of “Hold” and an average target price of $37.82.

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.

Further Reading: Overbought

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Institutional Ownership by Quarter for Allegiance Bancshares (NASDAQ:ABTX)

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