LegacyTexas Financial Group’s (LTXB) “Hold” Rating Reaffirmed at Stephens

LegacyTexas Financial Group (NASDAQ:LTXB)‘s stock had its “hold” rating reiterated by investment analysts at Stephens in a research report issued on Thursday. They presently have a $46.00 price target on the financial services provider’s stock. Stephens’ price objective points to a potential upside of 2.75% from the company’s current price.

A number of other analysts have also commented on LTXB. SunTrust Banks reiterated 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 upgraded 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. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $46.50 price objective on shares of LegacyTexas Financial Group in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $47.79.

Shares of LegacyTexas Financial Group (LTXB) traded down $0.12 during trading hours on Thursday, hitting $44.77. The stock 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 firm has a market capitalization of $2,150.00, a price-to-earnings ratio of 23.69, a PEG ratio of 1.26 and a beta of 1.24. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.15 and a current ratio of 1.16.

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

In other LegacyTexas Financial Group news, Director Greg Wilkinson sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $43.00, for a total transaction of $215,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George A. Fisk sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $42.00, for a total value of $945,000.00. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of LTXB. Balyasny Asset Management LLC bought a new position in LegacyTexas Financial Group during the second quarter worth about $10,648,000. Phocas Financial Corp. bought a new position in LegacyTexas Financial Group during the second quarter worth about $9,212,000. Port Capital LLC bought a new position in LegacyTexas Financial Group during the fourth quarter worth about $9,649,000. Westwood Holdings Group Inc. boosted its holdings in LegacyTexas Financial Group by 46.3% during the second quarter. Westwood Holdings Group Inc. now owns 528,607 shares of the financial services provider’s stock worth $20,156,000 after buying an additional 167,230 shares during the last quarter. Finally, State Street Corp boosted its holdings in LegacyTexas Financial Group by 6.5% during the second 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. 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.

Analyst Recommendations for LegacyTexas Financial Group (NASDAQ:LTXB)

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