LegacyTexas Financial Group Inc (NASDAQ:LTXB) Expected to Announce Earnings of $0.82 Per Share

Analysts predict that LegacyTexas Financial Group Inc (NASDAQ:LTXB) will post earnings of $0.82 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for LegacyTexas Financial Group’s earnings, with estimates ranging from $0.69 to $0.93. LegacyTexas Financial Group posted earnings of $0.90 per share during the same quarter last year, which would suggest a negative year over year growth rate of 8.9%. The firm is expected to report its next quarterly earnings results on Tuesday, October 15th.

On average, analysts expect that LegacyTexas Financial Group will report full-year earnings of $3.05 per share for the current financial year, with EPS estimates ranging from $2.79 to $3.34. For the next financial year, analysts forecast that the company will report earnings of $3.34 per share, with EPS estimates ranging from $3.13 to $3.50. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow LegacyTexas Financial Group.

LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.19). LegacyTexas Financial Group had a net margin of 32.39% and a return on equity of 13.08%. The company had revenue of $97.79 million during the quarter, compared to analyst estimates of $99.13 million.

A number of research analysts have weighed in on the company. Zacks Investment Research lowered LegacyTexas Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday. Raymond James lowered LegacyTexas Financial Group from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $38.88 to $41.78 in a report on Tuesday, June 18th. SunTrust Banks lowered LegacyTexas Financial Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $43.00 to $39.05 in a report on Tuesday, June 18th. DA Davidson lowered LegacyTexas Financial Group from a “buy” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a report on Monday, June 17th. Finally, Piper Jaffray Companies lowered LegacyTexas Financial Group from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $45.50 to $43.50 in a report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $42.33.

In other news, COO Scott A. Almy sold 1,416 shares of LegacyTexas Financial Group stock in a transaction on Friday, July 26th. The stock was sold at an average price of $42.88, for a total transaction of $60,718.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Charles D. Eikenberg sold 1,821 shares of LegacyTexas Financial Group stock in a transaction on Friday, July 26th. The stock was sold at an average price of $42.88, for a total value of $78,084.48. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in shares of LegacyTexas Financial Group by 143.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 37,515 shares of the financial services provider’s stock worth $1,633,000 after acquiring an additional 22,095 shares during the period. Water Island Capital LLC purchased a new position in shares of LegacyTexas Financial Group during the 2nd quarter worth $8,167,000. BlackRock Inc. raised its holdings in shares of LegacyTexas Financial Group by 1.3% during the 2nd quarter. BlackRock Inc. now owns 6,835,405 shares of the financial services provider’s stock worth $278,269,000 after acquiring an additional 85,415 shares during the period. Magnetar Financial LLC purchased a new position in shares of LegacyTexas Financial Group during the 2nd quarter worth $35,619,000. Finally, UBS Group AG raised its holdings in shares of LegacyTexas Financial Group by 95,766.6% during the 2nd quarter. UBS Group AG now owns 1,007,558 shares of the financial services provider’s stock worth $41,018,000 after acquiring an additional 1,006,507 shares during the period. Institutional investors and hedge funds own 82.55% of the company’s stock.

Shares of LTXB stock opened at $43.17 on Wednesday. The stock’s fifty day moving average is $42.02 and its two-hundred day moving average is $40.40. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.21 and a current ratio of 1.22. The firm has a market capitalization of $2.12 billion, a P/E ratio of 14.89 and a beta of 1.54. LegacyTexas Financial Group has a fifty-two week low of $30.18 and a fifty-two week high of $44.22.

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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