Cullen Frost Bankers Inc. Sells 4,665 Shares of LegacyTexas Financial Group Inc (LTXB)

Cullen Frost Bankers Inc. trimmed its position in LegacyTexas Financial Group Inc (NASDAQ:LTXB) by 2.7% during the third quarter, HoldingsChannel reports. The firm owned 166,808 shares of the financial services provider’s stock after selling 4,665 shares during the period. Cullen Frost Bankers Inc.’s holdings in LegacyTexas Financial Group were worth $7,106,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in LTXB. Victory Capital Management Inc. lifted its holdings in LegacyTexas Financial Group by 11,904.5% in the 2nd quarter. Victory Capital Management Inc. now owns 870,446 shares of the financial services provider’s stock valued at $33,965,000 after purchasing an additional 863,195 shares in the last quarter. BlackRock Inc. lifted its holdings in LegacyTexas Financial Group by 11.6% in the 2nd quarter. BlackRock Inc. now owns 6,304,406 shares of the financial services provider’s stock valued at $245,999,000 after purchasing an additional 655,464 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in LegacyTexas Financial Group by 130.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 877,603 shares of the financial services provider’s stock valued at $37,386,000 after purchasing an additional 496,066 shares in the last quarter. Millennium Management LLC purchased a new position in LegacyTexas Financial Group in the 2nd quarter valued at about $9,219,000. Finally, Impax Asset Management LLC lifted its holdings in LegacyTexas Financial Group by 42.8% in the 2nd quarter. Impax Asset Management LLC now owns 400,366 shares of the financial services provider’s stock valued at $15,622,000 after purchasing an additional 120,000 shares in the last quarter. Institutional investors own 85.89% of the company’s stock.

Shares of LTXB stock opened at $38.02 on Tuesday. The stock has a market cap of $1.82 billion, a PE ratio of 17.44, a P/E/G ratio of 1.33 and a beta of 1.42. LegacyTexas Financial Group Inc has a 1-year low of $35.16 and a 1-year high of $47.18. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.15 and a current ratio of 1.15.

LegacyTexas Financial Group (NASDAQ:LTXB) last announced its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.09. The business had revenue of $98.89 million for the quarter, compared to analyst estimates of $97.73 million. LegacyTexas Financial Group had a net margin of 24.77% and a return on equity of 12.44%. During the same period in the prior year, the firm posted $0.61 EPS. Analysts forecast that LegacyTexas Financial Group Inc will post 2.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Monday, October 29th will be issued a dividend of $0.22 per share. This is a positive change from LegacyTexas Financial Group’s previous quarterly dividend of $0.16. This represents a $0.88 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, October 26th. LegacyTexas Financial Group’s dividend payout ratio is presently 40.37%.

Several brokerages have recently weighed in on LTXB. BidaskClub upgraded shares of LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a report on Tuesday. Raymond James cut their price objective on shares of LegacyTexas Financial Group from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Thursday, October 18th. Stephens reiterated a “buy” rating and set a $48.00 price objective on shares of LegacyTexas Financial Group in a report on Wednesday, October 17th. Finally, ValuEngine lowered shares of LegacyTexas Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $48.69.

About LegacyTexas Financial Group

LegacyTexas Financial Group, Inc operates as the holding company for LegacyTexas Bank that provides various banking products and services in the United States. Its deposit products include interest-bearing and non-interest-bearing demand accounts, savings, money market, certificates of deposit, and individual retirement accounts.

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Institutional Ownership by Quarter for LegacyTexas Financial Group (NASDAQ:LTXB)

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