LegacyTexas Financial Group Inc (LTXB) Expected to Post Q3 2017 Earnings of $0.61 Per Share

LegacyTexas Financial Group Inc (NASDAQ:LTXB) – Research analysts at DA Davidson decreased their Q3 2017 earnings per share (EPS) estimates for shares of LegacyTexas Financial Group in a report issued on Thursday, according to Zacks Investment Research. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $0.61 per share for the quarter, down from their previous estimate of $0.62. DA Davidson also issued estimates for LegacyTexas Financial Group’s FY2018 earnings at $2.65 EPS.

A number of other equities analysts have also recently issued reports on LTXB. Stephens cut LegacyTexas Financial Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $45.00 target price on shares of LegacyTexas Financial Group in a report on Wednesday. Zacks Investment Research cut LegacyTexas Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, February 15th. Finally, FBR & Co reiterated a “buy” rating and issued a $46.00 price target on shares of LegacyTexas Financial Group in a research report on Thursday, January 26th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $37.57.

Earnings History and Estimates for LegacyTexas Financial Group (NASDAQ:LTXB)

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LegacyTexas Financial Group (NASDAQ:LTXB) traded down 0.14% on Friday, reaching $36.76. The company’s stock had a trading volume of 429,094 shares. The company has a market cap of $1.70 billion, a P/E ratio of 17.59 and a beta of 1.12. The company has a 50-day moving average price of $39.74 and a 200 day moving average price of $39.34. LegacyTexas Financial Group has a 12 month low of $23.48 and a 12 month high of $44.94.

LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by $0.21. LegacyTexas Financial Group had a return on equity of 11.18% and a net margin of 26.78%. The company had revenue of $88.68 million for the quarter, compared to analyst estimates of $88.75 million. During the same quarter in the prior year, the company earned $0.43 earnings per share.

Several large investors have recently made changes to their positions in the stock. Allianz Asset Management AG acquired a new stake in shares of LegacyTexas Financial Group during the fourth quarter valued at approximately $1,260,000. BlackRock Fund Advisors raised its stake in shares of LegacyTexas Financial Group by 4.8% in the third quarter. BlackRock Fund Advisors now owns 2,915,900 shares of the financial services provider’s stock valued at $92,230,000 after buying an additional 134,028 shares during the last quarter. Guggenheim Capital LLC raised its stake in shares of LegacyTexas Financial Group by 90.6% in the fourth quarter. Guggenheim Capital LLC now owns 110,906 shares of the financial services provider’s stock valued at $4,775,000 after buying an additional 52,706 shares during the last quarter. Maltese Capital Management LLC raised its stake in shares of LegacyTexas Financial Group by 12.3% in the fourth quarter. Maltese Capital Management LLC now owns 34,800 shares of the financial services provider’s stock valued at $1,498,000 after buying an additional 3,800 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of LegacyTexas Financial Group by 1.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,047,479 shares of the financial services provider’s stock valued at $45,104,000 after buying an additional 11,800 shares during the last quarter. Institutional investors own 79.56% of the company’s stock.

In other LegacyTexas Financial Group news, Director James Brian Mccall sold 5,000 shares of the company’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $41.99, for a total value of $209,950.00. Following the sale, the director now owns 47,484 shares in the company, valued at approximately $1,993,853.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony J. Levecchio sold 6,000 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $41.76, for a total value of $250,560.00. Following the sale, the director now owns 52,730 shares in the company, valued at approximately $2,202,004.80. The disclosure for this sale can be found here. Insiders sold a total of 37,000 shares of company stock worth $1,532,125 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Monday, May 1st will be given a $0.15 dividend. The ex-dividend date is Thursday, April 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.63%. LegacyTexas Financial Group’s dividend payout ratio (DPR) is presently 28.57%.

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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