Zacks Investment Research downgraded shares of LegacyTexas Financial Group (NASDAQ:LTXB) from a strong-buy rating to a hold rating in a research report report published on Wednesday, February 14th.
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. “
Several other equities research analysts have also commented on the stock. Sandler O’Neill restated a buy rating and issued a $50.00 price target on shares of LegacyTexas Financial Group in a research note on Thursday, January 25th. DA Davidson raised their price objective on shares of LegacyTexas Financial Group to $53.00 and gave the company a buy rating in a research note on Thursday, January 25th. Stephens reiterated a hold rating and set a $46.00 price objective on shares of LegacyTexas Financial Group in a research note on Thursday, January 25th. SunTrust Banks reiterated a buy rating and set a $47.00 price objective on shares of LegacyTexas Financial Group in a research note on Wednesday, November 29th. Finally, Piper Jaffray Companies reiterated a buy rating and set a $46.50 price objective on shares of LegacyTexas Financial Group in a research note on Thursday, October 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $47.79.
Shares of LegacyTexas Financial Group (LTXB) traded up $0.41 during midday trading on Wednesday, reaching $43.66. 220,100 shares of the company’s stock were exchanged, compared to its average volume of 225,346. LegacyTexas Financial Group has a 1 year low of $31.50 and a 1 year high of $46.45. The company has a market capitalization of $2,084.63, a PE ratio of 23.10, a P/E/G ratio of 1.37 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 (NASDAQ:LTXB) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.02). LegacyTexas Financial Group had a net margin of 21.80% and a return on equity of 10.94%. The firm had revenue of $87.10 million during the quarter, compared to analyst estimates of $91.99 million. During the same quarter in the previous year, the business posted $0.55 EPS. LegacyTexas Financial Group’s revenue for the quarter was up .9% compared to the same quarter last year. research analysts anticipate that LegacyTexas Financial Group will post 3.15 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Friday, February 2nd. LegacyTexas Financial Group’s payout ratio is 33.86%.
In related news, Director George A. Fisk sold 22,500 shares of the firm’s stock in a transaction that occurred 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 can be accessed through this hyperlink. Also, EVP Charles D. Eikenberg sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $44.18, for a total transaction of $220,900.00. The disclosure for this sale can be found here. Insiders have sold 47,500 shares of company stock valued at $2,046,000 over the last 90 days. 3.10% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Zions Bancorporation acquired a new position in LegacyTexas Financial Group in the 3rd quarter worth approximately $119,000. WFG Advisors LP boosted its stake in LegacyTexas Financial Group by 0.4% in the 2nd quarter. WFG Advisors LP now owns 3,169 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 13 shares during the period. Ameritas Investment Partners Inc. boosted its stake in LegacyTexas Financial Group by 8.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,150 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 319 shares during the period. Leucadia National Corp acquired a new position in LegacyTexas Financial Group in the 4th quarter worth approximately $205,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in LegacyTexas Financial Group in the 4th quarter worth approximately $205,000. Hedge funds and other institutional investors own 84.38% 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.
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