Allegiance Bancshares, Inc. (ABTX)’s Bullish Wedge Up Chart Pattern Points to Lower Stock Risks

May 15, 2018 - By Henry Gaston

The stock of Allegiance Bancshares, Inc. (ABTX) formed an up wedge with $44.73 target or 6.00 % above today’s $42.20 share price. The 9 months wedge indicates low risk for the $561.50M company. If the $44.73 price target is reached, the company will be worth $33.69M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.96% or $0.4 during the last trading session, reaching $42.2. About 9,153 shares traded. Allegiance Bancshares, Inc. (NASDAQ:ABTX) has risen 12.29% since May 15, 2017 and is uptrending. It has outperformed by 0.74% the S&P500.

Analysts await Allegiance Bancshares, Inc. (NASDAQ:ABTX) to report earnings on July, 24. They expect $0.62 earnings per share, up 55.00 % or $0.22 from last year’s $0.4 per share. ABTX’s profit will be $8.25 million for 17.02 P/E if the $0.62 EPS becomes a reality. After $0.57 actual earnings per share reported by Allegiance Bancshares, Inc. for the previous quarter, Wall Street now forecasts 8.77 % EPS growth.

More recent Allegiance Bancshares, Inc. (NASDAQ:ABTX) news were published by: Bizjournals.com which released: “Deal of the Week: Houston’s largest community bank to acquire competitor for $350M” on May 04, 2018. Also Globenewswire.com published the news titled: “Allegiance Bancshares, Inc. Reports First Quarter 2018 Results” on April 26, 2018. Globenewswire.com‘s news article titled: “Allegiance Bancshares, Inc. Announces Merger With Post Oak Bancshares, Inc.” with publication date: April 30, 2018 was also an interesting one.

Allegiance Bancshares, Inc. operates as the bank holding firm for Allegiance Bank that provides a range of commercial banking services primarily to small and medium-sized businesses, professionals, and individual customers. The company has market cap of $561.50 million. It accepts deposit products, including checking accounts, commercial accounts, savings accounts, and other time deposits comprising money market accounts and certificates of deposit. It has a 32.21 P/E ratio. The firm also grants various loan products, such as commercial and industrial loans; mortgage warehouse loans; commercial real estate loans, including multi-family residential loans; commercial real estate construction and land development loans; residential real estate loans, such as 1-4 family residential mortgage loans; residential construction loans; and consumer and other loans.

Allegiance Bancshares, Inc. (NASDAQ:ABTX) Ratings Chart

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