Comerica Bank Raises Holdings in LegacyTexas Financial Group, Inc. (NASDAQ:LTXB)

Comerica Bank increased its position in shares of LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) by 46.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 194,553 shares of the financial services provider’s stock after purchasing an additional 61,932 shares during the quarter. Comerica Bank owned approximately 0.40% of LegacyTexas Financial Group worth $7,784,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LTXB. Rhumbline Advisers raised its position in shares of LegacyTexas Financial Group by 2.1% in the third quarter. Rhumbline Advisers now owns 92,115 shares of the financial services provider’s stock valued at $3,677,000 after purchasing an additional 1,860 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of LegacyTexas Financial Group by 61.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 15,900 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 6,060 shares during the period. New York State Common Retirement Fund raised its position in shares of LegacyTexas Financial Group by 2.6% in the third quarter. New York State Common Retirement Fund now owns 69,613 shares of the financial services provider’s stock valued at $2,779,000 after purchasing an additional 1,784 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of LegacyTexas Financial Group by 98.6% in the third quarter. BNP Paribas Arbitrage SA now owns 27,002 shares of the financial services provider’s stock valued at $1,078,000 after purchasing an additional 13,403 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of LegacyTexas Financial Group by 0.7% in the third quarter. Principal Financial Group Inc. now owns 346,219 shares of the financial services provider’s stock valued at $13,821,000 after purchasing an additional 2,308 shares during the period. Institutional investors and hedge funds own 84.45% of the company’s stock.

LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) traded up $1.28 during mid-day trading on Monday, reaching $43.03. 388,641 shares of the company’s stock were exchanged, compared to its average volume of 254,411. LegacyTexas Financial Group, Inc. has a fifty-two week low of $31.50 and a fifty-two week high of $44.94. The stock has a market cap of $2,070.00, a PE ratio of 19.79, a PEG ratio of 1.59 and a beta of 1.23. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.19.

LegacyTexas Financial Group (NASDAQ:LTXB) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.61. LegacyTexas Financial Group had a net margin of 24.77% and a return on equity of 10.85%. The company had revenue of $91.10 million during the quarter, compared to analysts’ expectations of $91.51 million. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. sell-side analysts forecast that LegacyTexas Financial Group, Inc. will post 2.19 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, November 6th were paid a $0.16 dividend. This is a boost from LegacyTexas Financial Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.49%. LegacyTexas Financial Group’s dividend payout ratio is 30.19%.

In other LegacyTexas Financial Group news, Director George A. Fisk sold 22,500 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $42.00, for a total transaction of $945,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Several analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of LegacyTexas Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $46.50 target price on shares of LegacyTexas Financial Group in a report on Thursday, October 19th. ValuEngine lowered shares of LegacyTexas Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $47.00 target price on shares of LegacyTexas Financial Group in a report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $44.75.

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About LegacyTexas Financial Group

LegacyTexas Financial Group, Inc is a bank holding company. LegacyTexas Bank (the Bank) is the Company’s principal operating subsidiary, which is a commercial bank that is focused on meeting the needs of businesses and consumers in the North Texas area. Its principal business consists of attracting retail deposits from general public and business community and investing those funds, along with borrowed funds, in commercial real estate loans, secured and unsecured commercial and industrial loans, as well as permanent loans secured by first and second mortgages on one- to four-family residences and consumer loans.

Institutional Ownership by Quarter for LegacyTexas Financial Group (NASDAQ:LTXB)

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