LegacyTexas Financial Group Inc (LTXB) Stock Price Down 5.5% After Earnings Miss

LegacyTexas Financial Group Inc (NASDAQ:LTXB)’s share price was down 5.5% during mid-day trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $31.50 and last traded at $35.55, with a volume of 2,071,456 shares. The stock had previously closed at $37.61.

The financial services provider reported $0.37 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $88.68 million for the quarter, compared to analysts’ expectations of $88.75 million. During the same quarter in the previous year, the firm posted $0.43 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 1st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend 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 payout ratio is 28.57%.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded LegacyTexas Financial Group from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Wednesday, January 4th. FBR & Co reiterated a “buy” rating and issued a $46.00 target price on shares of LegacyTexas Financial Group in a research report on Thursday, January 26th. Stephens lowered LegacyTexas Financial Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $45.00 target price on shares of LegacyTexas Financial Group in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $37.57.

In other news, Director George A. Fisk sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $40.60, for a total transaction of $304,500.00. Following the completion of the transaction, the director now directly owns 253,481 shares of the company’s stock, valued at approximately $10,291,328.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Charles D. Eikenberg sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $40.89, for a total value of $204,450.00. Following the transaction, the executive vice president now directly owns 41,450 shares of the company’s stock, valued at $1,694,890.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,000 shares of company stock valued at $1,532,125. Corporate insiders own 3.30% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. boosted its stake in shares of LegacyTexas Financial Group by 10.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,047,494 shares of the financial services provider’s stock valued at $33,132,000 after buying an additional 101,978 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of LegacyTexas Financial Group by 20.7% in the third quarter. BlackRock Group LTD now owns 72,724 shares of the financial services provider’s stock valued at $2,299,000 after buying an additional 12,453 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of LegacyTexas Financial Group by 3.4% in the third quarter. Rhumbline Advisers now owns 69,743 shares of the financial services provider’s stock valued at $2,206,000 after buying an additional 2,315 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of LegacyTexas Financial Group by 26.7% in the third quarter. TIAA CREF Investment Management LLC now owns 348,135 shares of the financial services provider’s stock valued at $11,012,000 after buying an additional 73,381 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of LegacyTexas Financial Group by 42.4% in the third quarter. Teachers Advisors LLC now owns 570,334 shares of the financial services provider’s stock valued at $18,040,000 after buying an additional 169,738 shares during the last quarter. Hedge funds and other institutional investors own 79.56% of the company’s stock.

The stock has a market capitalization of $1.71 billion, a PE ratio of 17.61 and a beta of 1.12. The company has a 50 day moving average of $39.74 and a 200 day moving average of $39.34.

ILLEGAL ACTIVITY WARNING: “LegacyTexas Financial Group Inc (LTXB) Stock Price Down 5.5% After Earnings Miss” was originally published by WKRB News and is the sole property of of WKRB News. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at http://www.wkrb13.com/markets/2065754/legacytexas-financial-group-inc-ltxb-stock-price-down-5-5-after-earnings-miss.html.

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.

5 Day Chart for NASDAQ:LTXB

This story was originally published by WKRB News (http://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.wkrb13.com/markets/2065754/legacytexas-financial-group-inc-ltxb-stock-price-down-5-5-after-earnings-miss.html

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

 


Leave a Reply

 
© 2006-2017 WKRB News.