LegacyTexas Financial Group Inc (LTXB) Receives $45.25 Average Price Target from Brokerages

Shares of LegacyTexas Financial Group Inc (NASDAQ:LTXB) have been assigned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $45.58.

LTXB has been the subject of several analyst reports. SunTrust Banks increased their price target on shares of LegacyTexas Financial Group from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Piper Jaffray Companies reissued a “buy” rating and set a $46.50 price target on shares of LegacyTexas Financial Group in a research report on Thursday, October 19th. Finally, Zacks Investment Research raised shares of 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.

In other news, Director Greg Wilkinson sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $43.00, for a total value of $215,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George A. Fisk sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $42.00, for a total transaction of $945,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $2,082,500 in the last three months. 3.10% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Piedmont Investment Advisors LLC purchased a new stake in shares of LegacyTexas Financial Group in the 2nd quarter worth about $344,000. Comerica Bank lifted its position in shares of LegacyTexas Financial Group by 46.7% in the 3rd quarter. Comerica Bank now owns 194,553 shares of the financial services provider’s stock worth $7,784,000 after purchasing an additional 61,932 shares during the period. TIAA CREF Investment Management LLC lifted its position in shares of LegacyTexas Financial Group by 5.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 363,128 shares of the financial services provider’s stock worth $13,846,000 after purchasing an additional 19,695 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of LegacyTexas Financial Group by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,970 shares of the financial services provider’s stock worth $1,410,000 after purchasing an additional 2,763 shares during the period. Finally, Trexquant Investment LP purchased a new stake in shares of LegacyTexas Financial Group in the 3rd quarter worth about $328,000. 84.42% of the stock is owned by hedge funds and other institutional investors.

LegacyTexas Financial Group (LTXB) traded up $0.76 during mid-day trading on Monday, hitting $45.15. 198,555 shares of the company traded hands, compared to its average volume of 220,757. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.15 and a current ratio of 1.15. LegacyTexas Financial Group has a 52 week low of $31.50 and a 52 week high of $45.17. The company has a market cap of $2,080.00, a price-to-earnings ratio of 21.30, a P/E/G ratio of 1.36 and a beta of 1.24.

LegacyTexas Financial Group (NASDAQ:LTXB) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The business had revenue of $91.10 million during the quarter, compared to analysts’ expectations of $91.51 million. LegacyTexas Financial Group had a net margin of 24.77% and a return on equity of 10.85%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 EPS. equities analysts predict that LegacyTexas Financial Group will post 2.2 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for LegacyTexas Financial Group (NASDAQ:LTXB)

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