LegacyTexas Financial Group, Inc. (LTXB) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) from a buy rating to a hold rating in a report issued on Friday morning.

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. “

Several other research analysts have also issued reports on LTXB. BidaskClub lowered shares of LegacyTexas Financial Group from a hold rating to a sell rating in a research report on Monday, July 31st. Piper Jaffray Companies reiterated a buy rating and issued a $46.50 target price on shares of LegacyTexas Financial Group in a research report on Friday, August 25th. ValuEngine lowered shares of LegacyTexas Financial Group from a buy rating to a hold rating in a research report on Wednesday, September 6th. Finally, SunTrust Banks, Inc. reiterated a buy rating and issued a $44.00 target price on shares of LegacyTexas Financial Group in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $44.42.

Shares of LegacyTexas Financial Group (NASDAQ:LTXB) traded up $0.21 during trading hours on Friday, reaching $37.96. 118,537 shares of the company traded hands, compared to its average volume of 220,607. LegacyTexas Financial Group has a one year low of $31.50 and a one year high of $44.94. The stock has a market capitalization of $1,820.00, a price-to-earnings ratio of 17.83, a PEG ratio of 1.43 and a beta of 1.23. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.15 and a quick ratio of 1.15.

LegacyTexas Financial Group (NASDAQ:LTXB) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, hitting the 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 analyst estimates of $91.51 million. During the same period in the previous year, the business earned $0.60 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. equities analysts predict that LegacyTexas Financial Group will post 2.2 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, November 6th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.69%. This is a positive change from LegacyTexas Financial Group’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, November 3rd. LegacyTexas Financial Group’s dividend payout ratio is presently 30.19%.

In other LegacyTexas Financial Group news, Director George A. Fisk sold 22,500 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $41.00, for a total transaction of $922,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arcilia Acosta purchased 3,590 shares of the business’s stock in a transaction on Monday, August 28th. The shares were acquired at an average price of $36.02 per share, with a total value of $129,311.80. Following the completion of the transaction, the director now owns 26,008 shares of the company’s stock, valued at $936,808.16. The disclosure for this purchase can be found here. Corporate insiders own 3.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of LTXB. Cambiar Investors LLC purchased a new stake in LegacyTexas Financial Group during the second quarter valued at about $15,722,000. Monarch Partners Asset Management LLC purchased a new stake in LegacyTexas Financial Group during the second quarter valued at about $15,202,000. Vanguard Group Inc. boosted its position in LegacyTexas Financial Group by 7.9% during the first quarter. Vanguard Group Inc. now owns 4,003,577 shares of the financial services provider’s stock valued at $159,743,000 after buying an additional 294,036 shares during the period. Balyasny Asset Management LLC purchased a new stake in LegacyTexas Financial Group during the second quarter valued at about $10,648,000. Finally, Phocas Financial Corp. purchased a new stake in LegacyTexas Financial Group during the second quarter valued at about $9,212,000. Institutional investors and hedge funds own 81.62% of the company’s stock.

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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