Metropolitan Life Insurance Co. NY grew its position in shares of Allegiance Bancshares Inc (NASDAQ:ABTX) by 372.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,275 shares of the bank’s stock after buying an additional 3,371 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Allegiance Bancshares were worth $138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new stake in shares of Allegiance Bancshares during the 4th quarter valued at about $29,000. Hillview Capital Advisors LLC acquired a new stake in shares of Allegiance Bancshares during the 4th quarter valued at about $210,000. MetLife Investment Advisors LLC lifted its holdings in shares of Allegiance Bancshares by 57.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 9,196 shares of the bank’s stock valued at $383,000 after buying an additional 3,371 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Allegiance Bancshares during the 4th quarter valued at about $495,000. Finally, Rhumbline Advisers lifted its holdings in shares of Allegiance Bancshares by 50.7% during the 4th quarter. Rhumbline Advisers now owns 17,201 shares of the bank’s stock valued at $557,000 after buying an additional 5,785 shares during the last quarter. Institutional investors and hedge funds own 30.16% of the company’s stock.
Shares of ABTX stock opened at $36.54 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.32. Allegiance Bancshares Inc has a twelve month low of $28.58 and a twelve month high of $46.85. The company has a market capitalization of $791.90 million, a P/E ratio of 14.50 and a beta of 1.57.
In related news, CEO George Martinez sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $36.50, for a total value of $547,500.00. Following the transaction, the chief executive officer now directly owns 1,000 shares of the company’s stock, valued at approximately $36,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Umesh Jain sold 18,273 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $38.05, for a total value of $695,287.65. Following the completion of the transaction, the director now directly owns 130,473 shares in the company, valued at $4,964,497.65. The disclosure for this sale can be found here. Insiders sold a total of 42,753 shares of company stock worth $1,595,051 over the last three months. 10.17% of the stock is owned by company insiders.
Several brokerages have recently issued reports on ABTX. BidaskClub upgraded Allegiance Bancshares from a “strong sell” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research upgraded Allegiance Bancshares from a “sell” rating to a “hold” rating in a report on Monday, April 8th. ValuEngine lowered Allegiance Bancshares from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Brean Capital initiated coverage on Allegiance Bancshares in a research note on Friday, March 1st. They issued a “hold” rating and a $38.26 price objective on the stock. Finally, Raymond James set a $43.00 price objective on Allegiance Bancshares and gave the company a “buy” rating in a research note on Thursday, February 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $39.32.
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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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