LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) – DA Davidson upped their Q4 2017 EPS estimates for LegacyTexas Financial Group in a report issued on Thursday, Zacks Investment Research reports. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $0.62 per share for the quarter, up from their previous forecast of $0.60.
A number of other research firms also recently commented on LTXB. SunTrust Banks, Inc. increased their target price on LegacyTexas Financial Group from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Zacks Investment Research upgraded LegacyTexas Financial Group from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Friday, October 6th. Piper Jaffray Companies restated a “buy” rating and issued a $46.50 price target on shares of LegacyTexas Financial Group in a research report on Thursday, October 19th. BidaskClub downgraded LegacyTexas Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, ValuEngine downgraded LegacyTexas Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. LegacyTexas Financial Group has an average rating of “Hold” and an average price target of $44.42.
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LegacyTexas Financial Group (NASDAQ LTXB) opened at $37.75 on Monday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $1,806.79, a P/E ratio of 17.83, a PEG ratio of 1.43 and a beta of 1.23. LegacyTexas Financial Group has a 52-week low of $31.50 and a 52-week high of $44.94.
LegacyTexas Financial Group (NASDAQ:LTXB) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.61 EPS for the quarter, meeting analysts’ consensus estimates of $0.61. The firm had revenue of $91.10 million during the quarter, compared to the consensus estimate of $91.51 million. LegacyTexas Financial Group had a return on equity of 10.85% and a net margin of 24.77%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.70%. This is an increase from LegacyTexas Financial Group’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, November 3rd. LegacyTexas Financial Group’s dividend payout ratio (DPR) is 30.19%.
In other news, Director George A. Fisk sold 22,500 shares of LegacyTexas Financial Group stock in a transaction on Friday, October 27th. The stock was sold at an average price of $41.00, for a total transaction of $922,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arcilia Acosta bought 3,590 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were acquired at an average price of $36.02 per share, with a total value of $129,311.80. Following the completion of the transaction, the director now owns 26,008 shares of the company’s stock, valued at approximately $936,808.16. The disclosure for this purchase can be found here. 3.30% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. increased its stake in shares of LegacyTexas Financial Group by 49.8% during the first quarter. UBS Asset Management Americas Inc. now owns 22,576 shares of the financial services provider’s stock valued at $901,000 after buying an additional 7,503 shares during the period. Stifel Financial Corp purchased a new position in shares of LegacyTexas Financial Group during the first quarter valued at $206,000. SG Americas Securities LLC grew its stake in LegacyTexas Financial Group by 7.0% in the first quarter. SG Americas Securities LLC now owns 6,158 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 402 shares during the last quarter. Victory Capital Management Inc. grew its stake in LegacyTexas Financial Group by 15.5% in the first quarter. Victory Capital Management Inc. now owns 3,025 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 406 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its stake in LegacyTexas Financial Group by 1.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,500 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 81.62% of the company’s stock.
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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