LegacyTexas Financial Group (LTXB) Given New $53.00 Price Target at DA Davidson

LegacyTexas Financial Group (NASDAQ:LTXB) had its price objective upped by equities researchers at DA Davidson to $53.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price target indicates a potential upside of 18.38% from the company’s previous close. DA Davidson also issued estimates for LegacyTexas Financial Group’s Q1 2018 earnings at $0.69 EPS and Q4 2018 earnings at $0.79 EPS.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research raised LegacyTexas Financial Group from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, December 27th. SunTrust Banks restated a “buy” rating and issued a $44.00 target price on shares of LegacyTexas Financial Group in a research note on Wednesday, October 4th. Piper Jaffray Companies restated a “buy” rating and issued a $46.50 target price on shares of LegacyTexas Financial Group in a research note on Thursday, October 19th. Finally, Stephens restated a “hold” rating and issued a $46.00 target price on shares of LegacyTexas Financial Group in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $47.79.

Shares of LegacyTexas Financial Group (NASDAQ:LTXB) traded down $0.12 on Thursday, reaching $44.77. The company had a trading volume of 134,329 shares, compared to its average volume of 237,467. LegacyTexas Financial Group has a 52 week low of $31.50 and a 52 week high of $46.45. The stock has a market cap of $2,150.00, a price-to-earnings ratio of 23.69, a P/E/G ratio of 1.26 and a beta of 1.24. The company has a current ratio of 1.16, a quick ratio of 1.15 and a debt-to-equity ratio of 1.23.

LegacyTexas Financial Group (NASDAQ:LTXB) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.02). LegacyTexas Financial Group had a return on equity of 10.94% and a net margin of 21.80%. The firm had revenue of $87.10 million during the quarter, compared to analysts’ expectations of $91.99 million. During the same period last year, the business posted $0.55 EPS. The company’s revenue was up .9% compared to the same quarter last year. sell-side analysts predict that LegacyTexas Financial Group will post 2.96 EPS for the current year.

In other news, Director George A. Fisk sold 22,500 shares of LegacyTexas Financial Group stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $42.00, for a total transaction of $945,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Riverhead Capital Management LLC boosted its position in shares of LegacyTexas Financial Group by 74.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,795 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 1,195 shares during the last quarter. Zions Bancorporation bought a new stake in shares of LegacyTexas Financial Group during the 3rd quarter valued at about $119,000. WFG Advisors LP boosted its position in shares of LegacyTexas Financial Group by 0.4% during the 2nd quarter. WFG Advisors LP now owns 3,169 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 13 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of LegacyTexas Financial Group by 8.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,150 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 319 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of LegacyTexas Financial Group during the 3rd quarter valued at about $203,000. Hedge funds and other institutional investors own 84.51% of the company’s stock.

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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.

The Fly

Analyst Recommendations for LegacyTexas Financial Group (NASDAQ:LTXB)

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