LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) Given Consensus Rating of “Hold” by Brokerages

LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) has earned an average rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $43.25.

Several equities analysts have weighed in on LTXB shares. Keefe, Bruyette & Woods upgraded shares of LegacyTexas Financial Group from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $45.00 to $43.00 in a report on Thursday, April 20th. Zacks Investment Research lowered shares of LegacyTexas Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $42.00 target price (down from $47.00) on shares of LegacyTexas Financial Group in a report on Saturday, April 22nd. Stephens lowered shares of LegacyTexas Financial Group from an “overweight” rating to an “equal weight” rating and set a $46.00 target price on the stock. in a report on Wednesday, April 19th. Finally, BidaskClub lowered shares of LegacyTexas Financial Group from a “hold” rating to a “sell” rating in a report on Saturday, June 24th.

LegacyTexas Financial Group (NASDAQ LTXB) traded down 1.38% during trading on Monday, reaching $36.34. The company had a trading volume of 147,954 shares. The stock has a market capitalization of $1.69 billion, a P/E ratio of 17.31 and a beta of 1.14. The stock has a 50 day moving average of $38.18 and a 200-day moving average of $38.92. LegacyTexas Financial Group has a 12-month low of $29.00 and a 12-month high of $44.94.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.65%. LegacyTexas Financial Group’s dividend payout ratio is currently 28.71%.

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In other news, Director Anthony J. Levecchio sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the transaction, the director now directly owns 56,730 shares in the company, valued at approximately $2,269,200. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 13,321 shares of company stock worth $528,758. Company insiders own 3.30% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. Elkfork Partners LLC increased its stake in shares of LegacyTexas Financial Group by 18.2% in the first quarter. Elkfork Partners LLC now owns 2,548 shares of the financial services provider’s stock valued at $102,000 after buying an additional 392 shares during the last quarter. Riverhead Capital Management LLC increased its stake in shares of LegacyTexas Financial Group by 74.7% in the second quarter. Riverhead Capital Management LLC now owns 2,795 shares of the financial services provider’s stock valued at $107,000 after buying an additional 1,195 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of 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 buying an additional 406 shares during the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of 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 last quarter. Finally, WFG Advisors LP increased its stake in shares of 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 last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

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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