LegacyTexas Financial Group Inc (LTXB) Posts Earnings Results, Hits Expectations
LegacyTexas Financial Group Inc (NASDAQ:LTXB) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61, Bloomberg Earnings reports. The firm had revenue of $91.10 million during the quarter, compared to analysts’ expectations of $91.51 million. LegacyTexas Financial Group had a return on equity of 12.23% and a net margin of 31.73%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS.
Shares of LegacyTexas Financial Group (NASDAQ LTXB) traded up 0.80% during trading on Tuesday, reaching $39.21. The company had a trading volume of 374,805 shares. The firm has a 50-day moving average of $38.38 and a 200 day moving average of $37.60. The firm has a market capitalization of $1.82 billion, a PE ratio of 18.68 and a beta of 1.17. LegacyTexas Financial Group has a 1-year low of $31.14 and a 1-year high of $44.94.
A number of analysts have recently weighed in on the company. SunTrust Banks, Inc. reissued a “buy” rating and issued a $44.00 price objective on shares of LegacyTexas Financial Group in a research report on Wednesday, October 4th. Zacks Investment Research raised LegacyTexas Financial Group from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Friday, October 6th. BidaskClub raised LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Piper Jaffray Companies reissued a “buy” rating and issued a $46.50 price objective on shares of LegacyTexas Financial Group in a research report on Thursday, October 19th. Finally, Stephens reissued a “hold” rating and issued a $42.00 price objective on shares of LegacyTexas Financial Group in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $44.25.
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In related news, Director Arcilia Acosta acquired 3,590 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was bought at an average price of $36.02 per share, for a total transaction of $129,311.80. Following the completion of the purchase, the director now directly owns 26,008 shares of the company’s stock, valued at approximately $936,808.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.30% of the company’s stock.
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.
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