Allegiance Bancshares (NASDAQ:ABTX) Posts Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Allegiance Bancshares (NASDAQ:ABTX) posted its quarterly earnings results on Thursday. The bank reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.24, MarketWatch Earnings reports. Allegiance Bancshares had a net margin of 16.08% and a return on equity of 5.52%. The firm had revenue of $52.41 million during the quarter, compared to analysts’ expectations of $50.27 million.

Shares of NASDAQ:ABTX opened at $24.39 on Friday. The firm has a market capitalization of $497.63 million, a price-to-earnings ratio of 12.90 and a beta of 1.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.95 and a quick ratio of 1.01. The business’s 50 day simple moving average is $23.96 and its 200-day simple moving average is $27.97. Allegiance Bancshares has a 12 month low of $20.88 and a 12 month high of $38.95.

A number of equities analysts have recently issued reports on ABTX shares. BidaskClub downgraded Allegiance Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Stephens cut their price objective on Allegiance Bancshares from $31.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Finally, Zacks Investment Research lowered shares of Allegiance Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, July 24th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Allegiance Bancshares presently has an average rating of “Hold” and an average price target of $27.00.

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, and savings accounts, as well as other time deposits comprising money market accounts and certificates of deposit.

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Earnings History for Allegiance Bancshares (NASDAQ:ABTX)

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