Why Allegiance Bancshares (ABTX) Stock Might be a Great Pick

Zacks

One stock that might be an intriguing choice for investors right now is Allegiance Bancshares, Inc. ABTX.This is because this security in the Bank space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Bank space as it currently has a Zacks Industry Rank of 67 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Allegiance Bancsharesis actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

ALLEGIANCE BCSH Price and Consensus

ALLEGIANCE BCSH Price and Consensus | ALLEGIANCE BCSH Quote

In fact, over the past month, current quarter estimates have risen from earnings of 38 cents per share to 42 cents per share. However, current year estimates have risen from earnings of $1.54 per share to $1.65 per share. This has helped ABTX to earn a Zacks Rank #2 (Buy), which is also a favorable signal.

So, if you are looking for a decent pick in a strong industry, consider Allegiance Bancshares. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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