Zacks: Analysts Anticipate LegacyTexas Financial Group, Inc. (LTXB) Will Post Quarterly Sales of $90.97 Million
Equities research analysts forecast that LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) will post $90.97 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for LegacyTexas Financial Group’s earnings, with estimates ranging from $90.00 million to $92.50 million. LegacyTexas Financial Group reported sales of $86.36 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.3%. The firm is expected to report its next quarterly earnings report on Tuesday, January 23rd.
According to Zacks, analysts expect that LegacyTexas Financial Group will report full-year sales of $90.97 million for the current financial year, with estimates ranging from $356.20 million to $359.70 million. For the next financial year, analysts expect that the company will report sales of $387.83 million per share, with estimates ranging from $384.00 million to $394.40 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow LegacyTexas Financial Group.
LegacyTexas Financial Group (NASDAQ:LTXB) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The business had revenue of $91.10 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS.
A number of research firms recently weighed in on LTXB. SunTrust Banks, Inc. upped their target price on shares of LegacyTexas Financial Group from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday. Piper Jaffray Companies reaffirmed a “buy” rating and set a $46.50 target price on shares of LegacyTexas Financial Group in a report on Thursday, October 19th. Zacks Investment Research raised shares of LegacyTexas Financial Group from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Friday, October 6th. ValuEngine lowered shares of LegacyTexas Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, BidaskClub lowered shares of LegacyTexas Financial Group from a “hold” rating to a “sell” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $44.42.
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Shares of LegacyTexas Financial Group (LTXB) opened at 40.84 on Monday. The company’s 50 day moving average is $38.83 and its 200 day moving average is $37.65. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 19.46 and a beta of 1.17. LegacyTexas Financial Group has a 52-week low of $31.14 and a 52-week high of $44.94.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be issued a $0.16 dividend. This is a positive change from LegacyTexas Financial Group’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, November 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.57%. LegacyTexas Financial Group’s dividend payout ratio is presently 28.30%.
In related news, Director Arcilia Acosta purchased 3,590 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were purchased at an average price of $36.02 per share, with a total value of $129,311.80. Following the acquisition, the director now directly owns 26,008 shares of the company’s stock, valued at $936,808.16. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George A. Fisk sold 22,500 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $41.00, for a total transaction of $922,500.00. The disclosure for this sale can be found here. 3.30% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of LegacyTexas Financial Group by 1.2% in the 2nd quarter. BlackRock Inc. now owns 5,253,280 shares of the financial services provider’s stock worth $200,307,000 after buying an additional 60,572 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of LegacyTexas Financial Group by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 4,003,577 shares of the financial services provider’s stock worth $159,743,000 after buying an additional 294,036 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of LegacyTexas Financial Group by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,274,154 shares of the financial services provider’s stock worth $86,715,000 after buying an additional 89,322 shares during the last quarter. State Street Corp increased its holdings in shares of LegacyTexas Financial Group by 6.5% in the 2nd quarter. State Street Corp now owns 1,551,238 shares of the financial services provider’s stock worth $59,150,000 after buying an additional 94,017 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of LegacyTexas Financial Group by 6.4% in the 2nd quarter. Northern Trust Corp now owns 942,251 shares of the financial services provider’s stock worth $35,927,000 after buying an additional 56,960 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
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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