LegacyTexas Financial Group (LTXB) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of LegacyTexas Financial Group (NASDAQ:LTXB) from a buy rating to a hold rating in a research note published on Wednesday 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. “

A number of other equities research analysts have also recently commented on the company. SunTrust Banks reiterated a buy rating and set a $47.00 target price on shares of LegacyTexas Financial Group in a research note on Wednesday, November 29th. Piper Jaffray Companies reiterated a buy rating and set a $46.50 target price on shares of LegacyTexas Financial Group in a research note on Thursday, October 19th. Finally, ValuEngine cut LegacyTexas Financial Group from a buy rating to a hold rating in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. LegacyTexas Financial Group has a consensus rating of Buy and an average price target of $45.25.

LegacyTexas Financial Group (NASDAQ:LTXB) traded up $0.35 during midday trading on Wednesday, hitting $42.30. The stock had a trading volume of 173,300 shares, compared to its average volume of 231,633. The company has a market cap of $2,002.31, a PE ratio of 19.95, a price-to-earnings-growth ratio of 1.32 and a beta of 1.24. LegacyTexas Financial Group has a 12 month low of $31.50 and a 12 month high of $44.94. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.19.

LegacyTexas Financial Group (NASDAQ:LTXB) last released its earnings results on Tuesday, October 24th. The financial services provider reported $0.61 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.61. The company had revenue of $91.10 million for the quarter, compared to analysts’ expectations of $91.51 million. LegacyTexas Financial Group had a return on equity of 10.85% and a net margin of 24.77%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. equities research analysts forecast that LegacyTexas Financial Group will post 2.2 earnings per share for the current fiscal year.

In other LegacyTexas Financial Group news, Director Greg Wilkinson sold 5,000 shares of LegacyTexas Financial Group 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George A. Fisk sold 22,500 shares of LegacyTexas Financial Group stock in a transaction dated Wednesday, November 29th. The shares were 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. In the last three months, insiders sold 50,000 shares of company stock valued at $2,082,500. 3.10% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of LTXB. Riverhead Capital Management LLC grew its holdings in shares of LegacyTexas Financial Group by 74.7% during the second quarter. Riverhead Capital Management LLC now owns 2,795 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 1,195 shares in the last quarter. Zions Bancorporation purchased a new position in shares of LegacyTexas Financial Group during the third quarter worth about $119,000. WFG Advisors LP grew its holdings in shares of LegacyTexas Financial Group by 0.4% during the second quarter. WFG Advisors LP now owns 3,169 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 13 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of LegacyTexas Financial Group by 17.7% during the second quarter. Victory Capital Management Inc. now owns 3,560 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 535 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of LegacyTexas Financial Group by 8.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,150 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 319 shares in the last quarter. 84.42% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This report was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://www.chaffeybreeze.com/2018/01/04/legacytexas-financial-group-ltxb-lowered-to-hold-at-zacks-investment-research.html.

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)

Receive News & Ratings for LegacyTexas Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LegacyTexas Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply