Compass Point Downgrades LegacyTexas Financial Group Inc. (LTXB) to Neutral
LegacyTexas Financial Group Inc. (NASDAQ:LTXB) was downgraded by equities research analysts at Compass Point from a “buy” rating to a “neutral” rating in a research report issued on Friday.
LTXB has been the topic of several other reports. Hovde Group increased their price objective on LegacyTexas Financial Group from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Thursday, July 21st. Zacks Investment Research raised LegacyTexas Financial Group from a “hold” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a report on Friday, October 21st. Finally, Raymond James Financial Inc. lowered LegacyTexas Financial Group from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $32.00 to $31.00 in a report on Thursday, July 21st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $32.00.
Shares of LegacyTexas Financial Group (NASDAQ:LTXB) opened at 38.83 on Friday. The firm has a market cap of $1.80 billion, a PE ratio of 20.22 and a beta of 1.06. The firm’s 50-day moving average price is $33.72 and its 200-day moving average price is $29.55. LegacyTexas Financial Group has a 12 month low of $16.79 and a 12 month high of $39.67.
LegacyTexas Financial Group (NASDAQ:LTXB) last announced its quarterly earnings data on Tuesday, October 18th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.10. LegacyTexas Financial Group had a return on equity of 10.37% and a net margin of 25.44%. During the same period in the previous year, the company earned $0.39 EPS. Analysts expect that LegacyTexas Financial Group will post $2.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Monday, October 31st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Thursday, October 27th. LegacyTexas Financial Group’s payout ratio is 31.25%.
In related news, EVP Charles D. Eikenberg sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $37.89, for a total transaction of $151,560.00. Following the transaction, the executive vice president now owns 46,450 shares of the company’s stock, valued at $1,759,990.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kevin J. Hanigan sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $38.77, for a total value of $232,620.00. Following the transaction, the chief executive officer now directly owns 156,664 shares in the company, valued at approximately $6,073,863.28. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. 1st Global Advisors Inc. raised its position in LegacyTexas Financial Group by 0.7% in the second quarter. 1st Global Advisors Inc. now owns 22,257 shares of the financial services provider’s stock worth $599,000 after buying an additional 151 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in LegacyTexas Financial Group by 1.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 14,190 shares of the financial services provider’s stock worth $449,000 after buying an additional 160 shares during the last quarter. PineBridge Investments L.P. increased its stake in LegacyTexas Financial Group by 3.8% in the second quarter. PineBridge Investments L.P. now owns 5,559 shares of the financial services provider’s stock worth $150,000 after buying an additional 203 shares during the last quarter. CFO4Life L.P. increased its stake in LegacyTexas Financial Group by 0.3% in the second quarter. CFO4Life L.P. now owns 82,732 shares of the financial services provider’s stock worth $2,226,000 after buying an additional 243 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in LegacyTexas Financial Group by 1.6% in the second quarter. New York State Teachers Retirement System now owns 19,424 shares of the financial services provider’s stock worth $523,000 after buying an additional 300 shares during the last quarter. 77.17% of the stock is currently owned by hedge funds and other institutional investors.
About LegacyTexas Financial Group
LegacyTexas Financial Group, Inc is a bank holding company. LegacyTexas Bank is its wholly owned principal operating subsidiary. The Company is engaged in attracting retail deposits from the general public and the 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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