LegacyTexas Financial Group (LTXB) Downgraded by ValuEngine

ValuEngine lowered shares of LegacyTexas Financial Group (NASDAQ:LTXB) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

Other analysts have also recently issued reports about the company. Stephens reissued a buy rating and set a $48.00 target price on shares of LegacyTexas Financial Group in a research note on Wednesday, October 17th. BidaskClub raised LegacyTexas Financial Group from a sell rating to a hold rating in a research note on Friday, August 24th. Finally, Raymond James lowered their target price on LegacyTexas Financial Group from $48.00 to $47.00 and set an outperform rating for the company in a research note on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $48.93.

NASDAQ LTXB opened at $36.07 on Wednesday. LegacyTexas Financial Group has a 52-week low of $34.68 and a 52-week high of $47.18. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market cap of $1.75 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 1.27 and a beta of 1.36.

LegacyTexas Financial Group (NASDAQ:LTXB) last posted its earnings results on Tuesday, October 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. LegacyTexas Financial Group had a return on equity of 12.44% and a net margin of 24.77%. The business had revenue of $98.89 million during the quarter, compared to analysts’ expectations of $97.73 million. During the same period in the prior year, the business earned $0.61 EPS. As a group, sell-side analysts expect that LegacyTexas Financial Group will post 2.83 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 9th. Stockholders of record on Monday, October 29th were paid a dividend of $0.22 per share. This is a boost from LegacyTexas Financial Group’s previous quarterly dividend of $0.16. This represents a $0.88 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, October 26th. LegacyTexas Financial Group’s dividend payout ratio (DPR) is currently 40.37%.

In other news, Director George A. Fisk sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $39.00, for a total transaction of $156,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of LTXB. Victory Capital Management Inc. grew its stake in shares of LegacyTexas Financial Group by 11,904.5% during the 2nd quarter. Victory Capital Management Inc. now owns 870,446 shares of the financial services provider’s stock worth $33,965,000 after acquiring an additional 863,195 shares in the last quarter. BlackRock Inc. grew its stake in shares of LegacyTexas Financial Group by 11.6% during the 2nd quarter. BlackRock Inc. now owns 6,304,406 shares of the financial services provider’s stock worth $245,999,000 after acquiring an additional 655,464 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of LegacyTexas Financial Group by 1,095,262.5% during the 3rd quarter. Clearbridge Investments LLC now owns 613,403 shares of the financial services provider’s stock worth $26,131,000 after acquiring an additional 613,347 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of LegacyTexas Financial Group by 130.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 877,603 shares of the financial services provider’s stock worth $37,386,000 after acquiring an additional 496,066 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of LegacyTexas Financial Group by 213.7% during the 3rd quarter. Teachers Advisors LLC now owns 427,258 shares of the financial services provider’s stock worth $18,201,000 after acquiring an additional 291,050 shares in the last quarter. 87.02% of the stock is owned by institutional investors.

LegacyTexas Financial Group Company Profile

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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Analyst Recommendations for LegacyTexas Financial Group (NASDAQ:LTXB)

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