Wellington Management Group LLP Sells 29,732 Shares of Allegiance Bancshares Inc (NASDAQ:ABTX)

Wellington Management Group LLP reduced its holdings in Allegiance Bancshares Inc (NASDAQ:ABTX) by 77.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,680 shares of the bank’s stock after selling 29,732 shares during the quarter. Wellington Management Group LLP’s holdings in Allegiance Bancshares were worth $210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS Group AG increased its stake in Allegiance Bancshares by 36.9% in the 1st quarter. UBS Group AG now owns 12,414 shares of the bank’s stock worth $299,000 after acquiring an additional 3,349 shares during the last quarter. State Street Corp increased its stake in Allegiance Bancshares by 0.9% in the 1st quarter. State Street Corp now owns 712,600 shares of the bank’s stock worth $17,181,000 after acquiring an additional 6,200 shares during the last quarter. Mason Street Advisors LLC bought a new position in Allegiance Bancshares in the 4th quarter worth about $251,000. JPMorgan Chase & Co. increased its stake in Allegiance Bancshares by 329.5% in the 1st quarter. JPMorgan Chase & Co. now owns 31,831 shares of the bank’s stock worth $767,000 after acquiring an additional 24,419 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Allegiance Bancshares by 33.5% in the 4th quarter. Victory Capital Management Inc. now owns 4,874 shares of the bank’s stock worth $183,000 after acquiring an additional 1,223 shares during the last quarter. Institutional investors and hedge funds own 49.54% of the company’s stock.

ABTX opened at $24.72 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $25.18 and its 200 day simple moving average is $30.13. The firm has a market cap of $508.98 million, a price-to-earnings ratio of 11.94 and a beta of 1.35. Allegiance Bancshares Inc has a 1 year low of $20.88 and a 1 year high of $38.95.

Allegiance Bancshares (NASDAQ:ABTX) last released its quarterly earnings data on Thursday, April 30th. The bank reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.18). Allegiance Bancshares had a net margin of 17.80% and a return on equity of 6.22%. The company had revenue of $47.75 million for the quarter, compared to analysts’ expectations of $46.23 million. As a group, sell-side analysts anticipate that Allegiance Bancshares Inc will post 1.49 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Thursday, May 28th. Allegiance Bancshares’s payout ratio is 15.56%.

A number of equities analysts have recently issued reports on ABTX shares. TheStreet cut Allegiance Bancshares from a “b-” rating to a “c” rating in a report on Monday, March 9th. 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 report on Friday, May 1st. BidaskClub cut Allegiance Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Zacks Investment Research upgraded Allegiance Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $32.50.

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.

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

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