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

LegacyTexas Financial Group (NASDAQ:LTXB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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 analysts also recently commented on LTXB. SunTrust Banks reaffirmed 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 reissued a “buy” rating and issued a $46.50 price target on shares of LegacyTexas Financial Group in a research note on Thursday, October 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. LegacyTexas Financial Group currently has a consensus rating of “Hold” and a consensus price target of $45.25.

LegacyTexas Financial Group (LTXB) opened at $42.92 on Tuesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market cap of $2,060.00, a PE ratio of 20.25, a PEG ratio of 1.36 and a beta of 1.24. LegacyTexas Financial Group has a 52 week low of $31.50 and a 52 week high of $44.94.

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

In other news, Director Greg Wilkinson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $43.00, for a total transaction of $215,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George A. Fisk sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $42.00, for a total transaction of $945,000.00. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $2,082,500 in the last 90 days. Company insiders own 3.10% of the company’s stock.

Large investors have recently modified their holdings of the company. Riverhead Capital Management LLC lifted its position in shares of LegacyTexas Financial Group by 74.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,795 shares of the financial services provider’s stock worth $107,000 after buying an additional 1,195 shares during the last quarter. Zions Bancorporation purchased a new stake in shares of LegacyTexas Financial Group during the 3rd quarter worth approximately $119,000. WFG Advisors LP lifted its position in shares of LegacyTexas Financial Group by 0.4% during the 2nd quarter. WFG Advisors LP now owns 3,169 shares of the financial services provider’s stock worth $121,000 after buying an additional 13 shares during the last quarter. Victory Capital Management Inc. raised its position in LegacyTexas Financial Group by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,560 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 535 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in LegacyTexas Financial Group by 8.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,150 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 319 shares during the last quarter. Institutional investors and hedge funds own 84.42% of the company’s stock.

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LegacyTexas Financial Group Company Profile

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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