Prospera Financial Services Inc Acquires Shares of 3,508 Allegiance Bancshares, Inc. (NASDAQ:ABTX)

Prospera Financial Services Inc purchased a new position in shares of Allegiance Bancshares, Inc. (NASDAQ:ABTXGet Rating) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,508 shares of the bank’s stock, valued at approximately $157,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Allegiance Bancshares by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 941,975 shares of the bank’s stock worth $39,762,000 after acquiring an additional 28,998 shares during the period. FOCUS Wealth Advisors LLC bought a new stake in shares of Allegiance Bancshares during the 1st quarter worth approximately $9,045,000. Prospector Partners LLC bought a new stake in shares of Allegiance Bancshares during the 4th quarter worth approximately $211,000. State of New Jersey Common Pension Fund D increased its position in Allegiance Bancshares by 164.3% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 52,490 shares of the bank’s stock worth $2,345,000 after purchasing an additional 32,628 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in Allegiance Bancshares during the 4th quarter worth approximately $2,111,000. Institutional investors own 54.57% of the company’s stock.

Allegiance Bancshares Price Performance

ABTX stock opened at $43.82 on Friday. The company has a 50 day simple moving average of $40.09 and a 200 day simple moving average of $41.64. The stock has a market cap of $874.65 million, a price-to-earnings ratio of 11.84 and a beta of 0.96. Allegiance Bancshares, Inc. has a 1 year low of $34.39 and a 1 year high of $46.00.

Allegiance Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, August 30th. Allegiance Bancshares’s dividend payout ratio (DPR) is currently 15.14%.

Analyst Ratings Changes

Separately, Raymond James upgraded shares of Allegiance Bancshares from a “market perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a research report on Thursday, July 7th.

About Allegiance Bancshares

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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, money market accounts, savings accounts, and other time deposits; and certificates of deposit.

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

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