As previously reported, Baird analyst Bryce Rowe upgraded Allegiance Bancshares (ABTX) to Outperform from Neutral citing higher expectations for 2017 and 2018 earnings since the election amid optimism for lower corporate tax rates, higher interest rates, and reduced regulatory burdens. Rowe raised his target on Allegiance to $39 from $29. In his update on community banks, Rowe said more broadly that downside risks now generally outweighs potential upside in the sector following its post-election run and he also downgraded First Bank (FRBA) to Neutral from Outperform.