Baird Downgrades Allegiance Bancshares Inc to Neutral

Brokerage firm Baird Downgrades its rating on Allegiance Bancshares Inc(NASDAQ:ABTX). The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Baird was issued on Sep 21, 2016.

In a different note, On Jul 28, 2016, Keefe Bruyette & Woods said it Maintains its rating on Allegiance Bancshares Inc. In the research note, the firm Raises the price-target to $25.00 per share. The shares have been rated ‘Market Perform’ by the firm.

Allegiance Bancshares Inc(ABTX) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $23.16M. Analysts had an estimated revenue of $23.54M. Earnings per share were $0.40. Analysts had estimated an EPS of $0.36.

Several Insider Transactions has been reported to the SEC. On Jun 15, 2016, Thomas A Reiser (director) purchased 10,000 shares at $23.33 per share price.Also, On Apr 21, 2016, Paul Michael Mann (director) purchased 585 shares at $17.09 per share price.On Apr 21, 2016, Iii Ramon A. Vitulli, (Executive Vice President) purchased 110 shares at $17.65 per share price, according to the Form-4 filing with the securities and exchange commission.

Allegiance Bancshares Inc. is a holding company for Allegiance Bank (the Bank). The Bank provides a range of commercial banking services primarily to Houston metropolitan area-based small to medium-sized businesses and individual customers. The Bank is focused on delivering a range of commercial and community-oriented banking products and services. The Bank provides its customers with a range of banking services including checking accounts savings accounts certificates of deposit bank-by-mail cashier’s checks travelers checks gift cards savings bonds personal loans automobile loans commercial loans mortgage loans home improvement loans and online banking services. The Bank also offers safe deposit boxes automated teller machines drive-through services and 24-hour depository facilities. The Bank operates approximately 16 banking locations in the Houston metropolitan area and two banking locations in Central Texas.

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