Could Allegiance Bancshares Incorporated (NASDAQ:ABTX) Change Direction After More Shorts?

June 20, 2017 - By Hazel Jackson

 Could Allegiance Bancshares Incorporated (NASDAQ:ABTX) Change Direction After More Shorts?

The stock of Allegiance Bancshares Incorporated (NASDAQ:ABTX) registered an increase of 7.87% in short interest. ABTX’s total short interest was 261,700 shares in June as published by FINRA. Its up 7.87% from 242,600 shares, reported previously. With 29,900 shares average volume, it will take short sellers 9 days to cover their ABTX’s short positions. The short interest to Allegiance Bancshares Incorporated’s float is 2.28%.

It closed at $39.3 lastly. It is down 64.02% since June 20, 2016 and is uptrending. It has outperformed by 47.32% the S&P500.

Allegiance Bancshares, Inc. is a bank holding company. The company has market cap of $514.79 million. Through its subsidiary, Allegiance Bank , the Company provides a range of commercial banking services primarily to Houston metropolitan area small to medium-sized businesses, professionals and individual customers. It has a 22.98 P/E ratio. In addition to banking during normal business hours, the Company offers extended drive-in hours, automated teller machines (ATMs) and banking by telephone, mail and Internet.

Allegiance Bancshares Inc (NASDAQ:ABTX) Ratings Coverage

Among 2 analysts covering Allegiance Bancshares (NASDAQ:ABTX), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Allegiance Bancshares has $39 highest and $22 lowest target. $30.50’s average target is -22.39% below currents $39.3 stock price. Allegiance Bancshares had 6 analyst reports since November 2, 2015 according to SRatingsIntel. Robert W. Baird downgraded the shares of ABTX in report on Wednesday, September 21 to “Neutral” rating. Robert W. Baird initiated the shares of ABTX in report on Monday, November 2 with “Outperform” rating. The firm has “Hold” rating given on Monday, November 2 by Sandler O’Neill. On Wednesday, November 4 the stock rating was initiated by Keefe Bruyette & Woods with “Market Perform”. Robert W. Baird upgraded the stock to “Outperform” rating in Tuesday, December 13 report.

More notable recent Allegiance Bancshares Inc (NASDAQ:ABTX) news were published by: Globenewswire.com which released: “Allegiance Bancshares, Inc. Appoints Paul Egge Executive Vice President and …” on December 06, 2016, also Marketwatch.com with their article: “39.30” published on August 27, 2011, Globenewswire.com published: “Allegiance Bancshares, Inc. Announces the Appointment of Umesh Jain as Director” on February 18, 2016. More interesting news about Allegiance Bancshares Inc (NASDAQ:ABTX) were released by: Globenewswire.com and their article: “Allegiance Bancshares, Inc. Announces Departure of Chief Financial Officer” published on August 24, 2016 as well as Globenewswire.com‘s news article titled: “Allegiance Bancshares, Inc. Announces Pricing of Initial Public Offering” with publication date: October 08, 2015.

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