LegacyTexas Financial Group Inc (LTXB) Lifted to Outperform at Keefe, Bruyette & Woods
LegacyTexas Financial Group Inc (NASDAQ:LTXB) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report released on Thursday, The Fly reports.
LTXB has been the subject of a number of other reports. Stephens lowered shares of LegacyTexas Financial Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of LegacyTexas Financial Group from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Wednesday, January 4th. Finally, FBR & Co reiterated a “buy” rating and issued a $46.00 price objective on shares of LegacyTexas Financial Group in a research note on Thursday, January 26th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $37.57.
LegacyTexas Financial Group (NASDAQ:LTXB) opened at 35.55 on Thursday. The firm has a market cap of $1.65 billion, a P/E ratio of 17.01 and a beta of 1.12. The firm’s 50-day moving average price is $39.95 and its 200-day moving average price is $39.36. LegacyTexas Financial Group has a 12 month low of $22.45 and a 12 month high of $44.94.
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LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.21. LegacyTexas Financial Group had a net margin of 26.78% and a return on equity of 11.18%. During the same quarter in the previous year, the business earned $0.43 earnings per share. On average, equities research analysts expect that LegacyTexas Financial Group will post $2.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 1st will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, April 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.69%. LegacyTexas Financial Group’s dividend payout ratio (DPR) is currently 28.57%.
In other news, Director Anthony J. Levecchio sold 6,000 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $41.76, for a total transaction of $250,560.00. Following the completion of the transaction, the director now directly owns 52,730 shares in the company, valued at approximately $2,202,004.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George A. Fisk sold 7,500 shares of the business’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $41.03, for a total transaction of $307,725.00. Following the transaction, the director now owns 245,981 shares of the company’s stock, valued at $10,092,600.43. The disclosure for this sale can be found here. Insiders have sold a total of 37,000 shares of company stock valued at $1,532,125 over the last 90 days. Company insiders own 3.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LTXB. Vanguard Group Inc. raised its position in LegacyTexas Financial Group by 3.0% in the second quarter. Vanguard Group Inc. now owns 3,450,757 shares of the financial services provider’s stock worth $92,860,000 after buying an additional 99,259 shares during the period. BlackRock Fund Advisors raised its position in LegacyTexas Financial Group by 4.8% in the third quarter. BlackRock Fund Advisors now owns 2,915,900 shares of the financial services provider’s stock worth $92,230,000 after buying an additional 134,028 shares during the period. Neuberger Berman Group LLC raised its position in LegacyTexas Financial Group by 6.2% in the third quarter. Neuberger Berman Group LLC now owns 2,697,779 shares of the financial services provider’s stock worth $85,331,000 after buying an additional 158,634 shares during the period. Dimensional Fund Advisors LP raised its position in LegacyTexas Financial Group by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,274,098 shares of the financial services provider’s stock worth $97,923,000 after buying an additional 68,711 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in LegacyTexas Financial Group by 3.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,725,050 shares of the financial services provider’s stock worth $54,564,000 after buying an additional 53,438 shares during the period. Hedge funds and other institutional investors own 79.56% of the company’s stock.
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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