LegacyTexas Financial Group (LTXB) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of LegacyTexas Financial Group (NASDAQ:LTXB) from a strong-buy rating to a hold rating in a research note released on Wednesday.

According to Zacks, “LegacyTexas Financial Group, Inc. is a bank holding company. The company’s holdings include LegacyTexas Bank. The Bank offers commercial, small business, and consumer deposit and lending products, title and insurance services through its bank subsidiaries, LegacyTexas Title and LegacyTexas Insurance. It also offers brokerage services for the purchase and sale of non-deposit investment products. LegacyTexas Financial Group, Inc., formerly known as ViewPoint Financial Group, Inc., is based in Plano, Texas. “

A number of other research firms also recently weighed in on LTXB. Stephens restated a hold rating and set a $46.00 price target on shares of LegacyTexas Financial Group in a report on Thursday, January 25th. Sandler O’Neill reiterated a buy rating and issued a $50.00 target price on shares of LegacyTexas Financial Group in a research note on Thursday, January 25th. DA Davidson raised their target price on shares of LegacyTexas Financial Group to $53.00 and gave the company a buy rating in a research note on Thursday, January 25th. SunTrust Banks reiterated a buy rating and issued a $47.00 target price on shares of LegacyTexas Financial Group in a research note on Wednesday, November 29th. Finally, Piper Jaffray Companies reiterated a buy rating and issued a $46.50 target price on shares of LegacyTexas Financial Group in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. LegacyTexas Financial Group currently has an average rating of Hold and an average price target of $47.79.

LegacyTexas Financial Group (NASDAQ LTXB) traded up $0.93 during trading on Wednesday, hitting $43.41. 449,600 shares of the stock were exchanged, compared to its average volume of 230,303. The company has a market cap of $2,047.52, a P/E ratio of 22.97, a P/E/G ratio of 1.35 and a beta of 1.26. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 1.23. LegacyTexas Financial Group has a fifty-two week low of $31.50 and a fifty-two week high of $46.45.

LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). The business had revenue of $87.10 million for the quarter, compared to the consensus estimate of $91.99 million. LegacyTexas Financial Group had a net margin of 21.80% and a return on equity of 10.94%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 EPS. equities research analysts anticipate that LegacyTexas Financial Group will post 3.15 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Monday, February 5th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.47%. LegacyTexas Financial Group’s payout ratio is presently 33.86%.

In other LegacyTexas Financial Group news, EVP Charles D. Eikenberg sold 10,000 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $44.01, for a total value of $440,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Karen H. Oshea sold 5,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. The disclosure for this sale can be found here. Insiders sold a total of 47,500 shares of company stock worth $2,046,000 over the last quarter. 3.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of LTXB. Parametric Portfolio Associates LLC grew its position in LegacyTexas Financial Group by 29.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 37,621 shares of the financial services provider’s stock worth $1,434,000 after purchasing an additional 8,547 shares during the last quarter. Voya Investment Management LLC grew its position in LegacyTexas Financial Group by 5.7% in the 2nd quarter. Voya Investment Management LLC now owns 28,887 shares of the financial services provider’s stock worth $1,101,000 after purchasing an additional 1,558 shares during the last quarter. State Street Corp grew its position in LegacyTexas Financial Group by 6.5% in the 2nd quarter. State Street Corp now owns 1,551,238 shares of the financial services provider’s stock worth $59,150,000 after purchasing an additional 94,017 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in LegacyTexas Financial Group in the 2nd quarter worth $281,000. Finally, The Manufacturers Life Insurance Company grew its position in LegacyTexas Financial Group by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,970 shares of the financial services provider’s stock worth $1,410,000 after purchasing an additional 2,763 shares during the last quarter. Institutional investors own 84.96% of the company’s stock.

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LegacyTexas Financial Group Company Profile

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.

Analyst Recommendations for LegacyTexas Financial Group (NASDAQ:LTXB)

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