LegacyTexas Financial Group Inc (NASDAQ:LTXB) – Equities research analysts at Piper Jaffray Companies lifted their FY2018 EPS estimates for shares of LegacyTexas Financial Group in a research note issued on Wednesday, October 17th. Piper Jaffray Companies analyst B. Rabatin now expects that the financial services provider will earn $2.84 per share for the year, up from their previous estimate of $2.79. Piper Jaffray Companies currently has a “Buy” rating and a $49.50 target price on the stock. Piper Jaffray Companies also issued estimates for LegacyTexas Financial Group’s Q1 2020 earnings at $0.86 EPS, Q2 2020 earnings at $0.92 EPS, Q3 2020 earnings at $0.94 EPS and FY2020 earnings at $3.69 EPS.
Several other research firms have also recently weighed in on LTXB. Stephens upgraded LegacyTexas Financial Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $41.00 to $48.00 in a report on Thursday, July 19th. BidaskClub cut LegacyTexas Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Raymond James reduced their price target on LegacyTexas Financial Group from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Thursday. Zacks Investment Research upgraded LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, July 21st. Finally, Hovde Group restated a “hold” rating and set a $46.00 price target on shares of LegacyTexas Financial Group in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $48.69.
NASDAQ:LTXB opened at $40.14 on Friday. The stock has a market cap of $2.00 billion, a PE ratio of 18.41, a PEG ratio of 1.50 and a beta of 1.42. The company has a current ratio of 1.15, a quick ratio of 1.16 and a debt-to-equity ratio of 1.03. LegacyTexas Financial Group has a 1-year low of $35.16 and a 1-year high of $47.18.
LegacyTexas Financial Group (NASDAQ:LTXB) last released its earnings results on Tuesday, October 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.09. LegacyTexas Financial Group had a return on equity of 12.44% and a net margin of 24.77%. The firm had revenue of $98.89 million for the quarter, compared to analysts’ expectations of $97.73 million. During the same quarter in the previous year, the business posted $0.61 earnings per share.
Several large investors have recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. bought a new stake in shares of LegacyTexas Financial Group during the third quarter worth about $210,000. IMA Wealth Inc. boosted its holdings in LegacyTexas Financial Group by 3.9% in the third quarter. IMA Wealth Inc. now owns 57,615 shares of the financial services provider’s stock valued at $2,454,000 after acquiring an additional 2,176 shares during the last quarter. Bank of Montreal Can boosted its holdings in LegacyTexas Financial Group by 22.2% in the third quarter. Bank of Montreal Can now owns 43,053 shares of the financial services provider’s stock valued at $1,835,000 after acquiring an additional 7,816 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in LegacyTexas Financial Group by 214.3% in the second quarter. Advisors Asset Management Inc. now owns 31,464 shares of the financial services provider’s stock valued at $354,000 after acquiring an additional 21,452 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in LegacyTexas Financial Group by 58.0% in the second quarter. California Public Employees Retirement System now owns 78,416 shares of the financial services provider’s stock valued at $3,060,000 after acquiring an additional 28,782 shares during the last quarter. Institutional investors own 85.84% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Monday, October 29th will be issued a dividend of $0.22 per share. This is a boost from LegacyTexas Financial Group’s previous quarterly dividend of $0.16. This represents a $0.88 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, October 26th. LegacyTexas Financial Group’s payout ratio is 29.36%.
About LegacyTexas Financial Group
LegacyTexas Financial Group, Inc operates as the holding company for LegacyTexas Bank that provides various banking products and services in the United States. Its deposit products include interest-bearing and non-interest-bearing demand accounts, savings, money market, certificates of deposit, and individual retirement accounts.
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