LegacyTexas Financial Group (NASDAQ:LTXB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “LegacyTexas Financial Group, Inc. is a bank holding company. The company’s holdings include LegacyTexas Bank. The Bank offers commercial, small business, and consumer deposit and lending products, title and insurance services through its bank subsidiaries, LegacyTexas Title and LegacyTexas Insurance. It also offers brokerage services for the purchase and sale of non-deposit investment products. LegacyTexas Financial Group, Inc., formerly known as ViewPoint Financial Group, Inc., is based in Plano, Texas. “

A number of other research analysts have also recently weighed in on the stock. ValuEngine cut shares of LegacyTexas Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Piper Jaffray Companies reiterated a “buy” rating and issued a $46.50 price target on shares of LegacyTexas Financial Group in a research note on Thursday, October 19th. Finally, SunTrust Banks upped their target price on shares of LegacyTexas Financial Group from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $45.25.

LegacyTexas Financial Group (NASDAQ LTXB) traded down $0.53 during mid-day trading on Wednesday, hitting $41.68. 338,600 shares of the stock traded hands, compared to its average volume of 244,150. The stock has a market capitalization of $2,027.77, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 1.33 and a beta of 1.24. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.19. LegacyTexas Financial Group has a 1 year low of $31.50 and a 1 year high of $44.94.

LegacyTexas Financial Group (NASDAQ:LTXB) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. LegacyTexas Financial Group had a net margin of 24.77% and a return on equity of 10.85%. The company had revenue of $91.10 million during the quarter, compared to the consensus estimate of $91.51 million. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. analysts forecast that LegacyTexas Financial Group will post 2.2 earnings per share for the current year.

In other news, Director Greg Wilkinson sold 5,000 shares of LegacyTexas Financial Group stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $43.00, for a total value of $215,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director George A. Fisk sold 22,500 shares of LegacyTexas Financial Group stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $42.00, for a total transaction of $945,000.00. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $2,082,500 in the last quarter. Company insiders own 3.10% of the company’s stock.

Large investors have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in LegacyTexas Financial Group during the third quarter worth about $867,000. California Public Employees Retirement System grew its holdings in shares of LegacyTexas Financial Group by 8.4% in the third quarter. California Public Employees Retirement System now owns 45,529 shares of the financial services provider’s stock valued at $1,818,000 after purchasing an additional 3,529 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of LegacyTexas Financial Group in the third quarter valued at approximately $203,000. Zions Bancorporation acquired a new position in shares of LegacyTexas Financial Group in the third quarter valued at approximately $119,000. Finally, Maltese Capital Management LLC acquired a new position in LegacyTexas Financial Group during the 3rd quarter worth approximately $1,397,000. 84.42% of the stock is currently owned by hedge funds and other institutional investors.

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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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Analyst Recommendations for LegacyTexas Financial Group (NASDAQ:LTXB)

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