LegacyTexas Financial Group Inc. (LTXB) Announces Earnings Results, Beats Expectations By $0.10 EPS
LegacyTexas Financial Group Inc. (NASDAQ:LTXB) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.10. LegacyTexas Financial Group had a net margin of 23.58% and a return on equity of 9.45%.
Shares of LegacyTexas Financial Group (NASDAQ:LTXB) traded up 2.30% during midday trading on Tuesday, reaching $32.41. 201,410 shares of the company’s stock traded hands. The firm has a market capitalization of $1.50 billion, a P/E ratio of 18.95 and a beta of 1.11. The stock’s 50 day moving average price is $31.52 and its 200 day moving average price is $27.45. LegacyTexas Financial Group has a 52-week low of $16.79 and a 52-week high of $33.97.
A number of hedge funds have recently made changes to their positions in the stock. Paloma Partners Management Co bought a new stake in shares of LegacyTexas Financial Group during the second quarter worth $202,000. Maltese Capital Management LLC bought a new stake in shares of LegacyTexas Financial Group during the second quarter worth $205,000. Nomura Holdings Inc. bought a new stake in shares of LegacyTexas Financial Group during the second quarter worth $210,000. BlackRock Inc. boosted its stake in shares of LegacyTexas Financial Group by 287.9% in the second quarter. BlackRock Inc. now owns 12,850 shares of the financial services provider’s stock worth $346,000 after buying an additional 9,537 shares during the period. Finally, TFS Capital LLC bought a new stake in shares of LegacyTexas Financial Group during the second quarter worth $509,000. Hedge funds and other institutional investors own 74.62% of the company’s stock.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/legacytexas-financial-group-inc-ltxb-announces-earnings-results-beats-expectations-by-0-10-eps.html
LTXB has been the subject of several analyst reports. Zacks Investment Research raised shares of LegacyTexas Financial Group from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Wednesday, July 6th. Raymond James Financial Inc. cut shares of LegacyTexas Financial Group from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $32.00 to $31.00 in a research note on Thursday, July 21st. They noted that the move was a valuation call. Compass Point lifted their price objective on shares of LegacyTexas Financial Group from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, July 21st. Finally, Hovde Group lifted their price objective on shares of LegacyTexas Financial Group from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Thursday, July 21st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $30.86.
LegacyTexas Financial Group Company Profile
LegacyTexas Financial Group, Inc is a bank holding company. LegacyTexas Bank is its wholly owned principal operating subsidiary. The Company is engaged in attracting retail deposits from the general public and the 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.
Receive News & Ratings for LegacyTexas Financial Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LegacyTexas Financial Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.