Bank of New York Mellon Corp Cuts Stake in LegacyTexas Financial Group, Inc. (LTXB)

Bank of New York Mellon Corp lessened its position in shares of LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 554,736 shares of the financial services provider’s stock after selling 40,100 shares during the quarter. Bank of New York Mellon Corp owned about 1.19% of LegacyTexas Financial Group worth $21,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LTXB. Elkfork Partners LLC lifted its stake in shares of LegacyTexas Financial Group by 18.2% during the first quarter. Elkfork Partners LLC now owns 2,548 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 392 shares during the period. Victory Capital Management Inc. lifted its stake in shares of LegacyTexas Financial Group by 15.5% during the first quarter. Victory Capital Management Inc. now owns 3,025 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 406 shares during the period. Meadow Creek Investment Management LLC lifted its stake in LegacyTexas Financial Group by 18.2% in the first quarter. Meadow Creek Investment Management LLC now owns 3,094 shares of the financial services provider’s stock valued at $123,000 after buying an additional 476 shares during the period. WFG Advisors LP lifted its stake in LegacyTexas Financial Group by 0.4% in the first quarter. WFG Advisors LP now owns 3,156 shares of the financial services provider’s stock valued at $126,000 after buying an additional 12 shares during the period. Finally, Bank of Montreal Can lifted its stake in LegacyTexas Financial Group by 12.7% in the first quarter. Bank of Montreal Can now owns 3,396 shares of the financial services provider’s stock valued at $136,000 after buying an additional 382 shares during the period. 82.25% of the stock is currently owned by institutional investors and hedge funds.

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In related news, Director Arcilia Acosta purchased 3,590 shares of LegacyTexas Financial Group stock in a transaction on Monday, August 28th. The shares were purchased at an average price of $36.02 per share, for a total transaction of $129,311.80. Following the transaction, the director now owns 26,008 shares of the company’s stock, valued at approximately $936,808.16. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.30% of the company’s stock.

LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) opened at 36.86 on Friday. The firm has a 50-day moving average price of $36.96 and a 200 day moving average price of $37.94. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 17.56 and a beta of 1.16. LegacyTexas Financial Group, Inc. has a 1-year low of $30.28 and a 1-year high of $44.94.

LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. LegacyTexas Financial Group had a return on equity of 10.94% and a net margin of 25.44%. The firm had revenue of $88.05 million for the quarter, compared to analyst estimates of $87.93 million. During the same quarter in the previous year, the company posted $0.50 EPS. The business’s revenue was up 6.0% on a year-over-year basis. Equities analysts predict that LegacyTexas Financial Group, Inc. will post $2.20 earnings per share for the current year.

Several equities analysts have weighed in on LTXB shares. Zacks Investment Research lowered LegacyTexas Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. BidaskClub lowered LegacyTexas Financial Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. ValuEngine lowered LegacyTexas Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Stephens reissued a “hold” rating and issued a $42.00 target price on shares of LegacyTexas Financial Group in a research note on Wednesday, July 19th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $46.50 target price on shares of LegacyTexas Financial Group in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. LegacyTexas Financial Group has an average rating of “Hold” and a consensus target price of $45.10.

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

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