Wall Street analysts expect LegacyTexas Financial Group Inc (NASDAQ:LTXB) to report earnings per share (EPS) of $0.72 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for LegacyTexas Financial Group’s earnings, with estimates ranging from $0.69 to $0.74. LegacyTexas Financial Group posted earnings per share of $0.37 in the same quarter last year, which would indicate a positive year over year growth rate of 94.6%. The company is scheduled to report its next earnings results on Tuesday, April 17th.
On average, analysts expect that LegacyTexas Financial Group will report full-year earnings of $3.15 per share for the current year, with EPS estimates ranging from $3.05 to $3.25. For the next financial year, analysts forecast that the firm will report earnings of $3.44 per share, with EPS estimates ranging from $3.27 to $3.52. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for LegacyTexas Financial Group.
LegacyTexas Financial Group (NASDAQ:LTXB) last issued its quarterly earnings data 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 return on equity of 10.94% and a net margin of 21.80%. The company had revenue of $87.10 million during the quarter, compared to analyst estimates of $91.99 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The business’s revenue was up .9% compared to the same quarter last year.
Several equities analysts have recently commented on LTXB shares. Zacks Investment Research upgraded shares of LegacyTexas Financial Group from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Wednesday, December 27th. SunTrust Banks restated a “buy” rating and issued a $47.00 price objective on shares of LegacyTexas Financial Group in a report on Wednesday, November 29th. DA Davidson upped their price objective on shares of LegacyTexas Financial Group to $53.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Sandler O’Neill restated a “buy” rating and issued a $50.00 price objective on shares of LegacyTexas Financial Group in a report on Thursday, January 25th. Finally, BidaskClub upgraded shares of LegacyTexas Financial Group from a “hold” rating to a “buy” rating in a report on Thursday, March 8th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $47.79.
In related news, EVP Charles D. Eikenberg sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $44.18, for a total transaction of $220,900.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Scott A. Almy sold 1,558 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $42.16, for a total transaction of $65,685.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,558 shares of company stock worth $1,166,185. 3.10% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in LegacyTexas Financial Group by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,303,447 shares of the financial services provider’s stock worth $91,953,000 after buying an additional 29,293 shares during the period. Glenmede Trust Co. NA increased its stake in LegacyTexas Financial Group by 8.1% during the 4th quarter. Glenmede Trust Co. NA now owns 853,865 shares of the financial services provider’s stock worth $36,039,000 after buying an additional 63,696 shares during the period. American Century Companies Inc. increased its stake in LegacyTexas Financial Group by 17.5% during the 4th quarter. American Century Companies Inc. now owns 838,119 shares of the financial services provider’s stock worth $35,377,000 after buying an additional 124,911 shares during the period. Wells Fargo & Company MN increased its stake in LegacyTexas Financial Group by 5.0% during the 4th quarter. Wells Fargo & Company MN now owns 766,549 shares of the financial services provider’s stock worth $32,356,000 after buying an additional 36,701 shares during the period. Finally, Clearbridge LLC increased its stake in LegacyTexas Financial Group by 10.3% during the 4th quarter. Clearbridge LLC now owns 695,119 shares of the financial services provider’s stock worth $29,341,000 after buying an additional 64,720 shares during the period. 85.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LegacyTexas Financial Group (NASDAQ:LTXB) traded up $0.66 during mid-day trading on Wednesday, hitting $45.82. 564,326 shares of the stock traded hands, compared to its average volume of 185,601. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.16. LegacyTexas Financial Group has a 52-week low of $31.50 and a 52-week high of $46.45. The firm has a market cap of $2,176.69, a price-to-earnings ratio of 24.24, a P/E/G ratio of 1.43 and a beta of 1.26.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.40%. The ex-dividend date was Friday, February 2nd. LegacyTexas Financial Group’s payout ratio is currently 33.86%.
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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.
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