Allegiance Bancshares, Inc. (ABTX) Is At $40.20 Formed Wedge; Affiliated Managers Group (AMG) Sentiment Is 1.13

April 8, 2018 - By Jerrie Dane

Affiliated Managers Group, Inc. (NYSE:AMG) Logo

Allegiance Bancshares, Inc. (ABTX) formed wedge up with $42.21 target or 5.00% above today’s $40.20 share price. Allegiance Bancshares, Inc. (ABTX) has $534.05 million valuation. The stock decreased 0.74% or $0.3 during the last trading session, reaching $40.2. About 34,039 shares traded or 2.83% up from the average. Allegiance Bancshares, Inc. (NASDAQ:ABTX) has risen 12.29% since April 8, 2017 and is uptrending. It has outperformed by 0.74% the S&P500.

Affiliated Managers Group Inc (AMG) investors sentiment increased to 1.13 in 2017 Q4. It’s up 0.22, from 0.91 in 2017Q3. The ratio has increased, as 197 hedge funds started new and increased positions, while 175 cut down and sold their equity positions in Affiliated Managers Group Inc. The hedge funds in our database now have: 49.42 million shares, down from 49.56 million shares in 2017Q3. Also, the number of hedge funds holding Affiliated Managers Group Inc in top ten positions increased from 5 to 7 for an increase of 2. Sold All: 30 Reduced: 145 Increased: 135 New Position: 62.

Analysts await Allegiance Bancshares, Inc. (NASDAQ:ABTX) to report earnings on April, 24. They expect $0.61 EPS, up 35.56% or $0.16 from last year’s $0.45 per share. ABTX’s profit will be $8.10M for 16.48 P/E if the $0.61 EPS becomes a reality. After $0.51 actual EPS reported by Allegiance Bancshares, Inc. for the previous quarter, Wall Street now forecasts 19.61% EPS growth.

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 -24.13% below currents $40.2 stock price. Allegiance Bancshares had 6 analyst reports since November 2, 2015 according to SRatingsIntel. Robert W. Baird downgraded Allegiance Bancshares, Inc. (NASDAQ:ABTX) on Wednesday, September 21 to “Neutral” rating. The stock has “Market Perform” rating by Keefe Bruyette & Woods on Wednesday, November 4. The firm has “Hold” rating given on Monday, November 2 by Sandler O’Neill. The stock has “Outperform” rating by Robert W. Baird on Tuesday, December 13. Robert W. Baird initiated Allegiance Bancshares, Inc. (NASDAQ:ABTX) rating on Monday, November 2. Robert W. Baird has “Outperform” rating and $27 target.

The stock decreased 3.06% or $5.57 during the last trading session, reaching $176.44. About 454,657 shares traded or 6.39% up from the average. Affiliated Managers Group, Inc. (AMG) has risen 16.50% since April 8, 2017 and is uptrending. It has outperformed by 4.95% the S&P500.

Since January 1, 0001, it had 0 buys, and 1 sale for $5.69 million activity.

Bruni J V & Co Co holds 7.89% of its portfolio in Affiliated Managers Group, Inc. for 227,600 shares. Edgepoint Investment Group Inc. owns 1.91 million shares or 5.61% of their US portfolio. Moreover, Barr E S & Co has 3.15% invested in the company for 151,085 shares. The New York-based Lyrical Asset Management Lp has invested 2.93% in the stock. Atlanta Capital Management Co L L C, a Georgia-based fund reported 2.05 million shares.

Analysts await Affiliated Managers Group, Inc. (NYSE:AMG) to report earnings on May, 7. They expect $3.92 earnings per share, up 22.12% or $0.71 from last year’s $3.21 per share. AMG’s profit will be $213.62 million for 11.25 P/E if the $3.92 EPS becomes a reality. After $4.68 actual earnings per share reported by Affiliated Managers Group, Inc. for the previous quarter, Wall Street now forecasts -16.24% negative EPS growth.

Affiliated Managers Group, Inc., through its affiliates, operates as an asset management firm providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. The company has market cap of $9.62 billion. It provides advisory or subadvisory services to mutual funds. It has a 14.67 P/E ratio. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

Affiliated Managers Group, Inc. (NYSE:AMG) Institutional Positions Chart