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

Several other analysts have also recently commented on the company. Zacks Investment Research raised LegacyTexas Financial Group from a sell rating to a hold rating in a research report on Friday, July 21st. Stephens reaffirmed a hold rating and issued a $42.00 target price on shares of LegacyTexas Financial Group in a research report on Wednesday, July 19th. Piper Jaffray Companies reaffirmed an overweight rating and issued a $42.00 target price (down previously from $47.00) on shares of LegacyTexas Financial Group in a research report on Saturday, April 22nd. Finally, Keefe, Bruyette & Woods raised LegacyTexas Financial Group from a market perform rating to an outperform rating and decreased their target price for the stock from $45.00 to $43.00 in a research report on Thursday, April 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $44.20.

Shares of LegacyTexas Financial Group (NASDAQ LTXB) traded down 1.81% during trading on Monday, reaching $38.51. The company had a trading volume of 241,961 shares. LegacyTexas Financial Group has a 52 week low of $27.86 and a 52 week high of $44.94. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 19.35 and a beta of 1.14. The firm has a 50-day moving average of $38.06 and a 200 day moving average of $39.04.

LegacyTexas Financial Group (NASDAQ:LTXB) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The business had revenue of $88.05 million during the quarter, compared to analysts’ expectations of $87.93 million. LegacyTexas Financial Group had a return on equity of 10.94% and a net margin of 25.44%. LegacyTexas Financial Group’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share. On average, equities research analysts forecast that LegacyTexas Financial Group will post $2.20 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.60 dividend on an annualized basis and a yield of 1.56%. LegacyTexas Financial Group’s payout ratio is 28.71%.

In related news, COO Scott A. Almy sold 3,000 shares of LegacyTexas Financial Group stock in a transaction on Monday, May 8th. The stock was sold at an average price of $36.78, for a total transaction of $110,340.00. Following the completion of the sale, the chief operating officer now owns 46,912 shares of the company’s stock, valued at $1,725,423.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Anthony J. Levecchio sold 12,000 shares of LegacyTexas Financial Group stock in a transaction on Friday, June 9th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the sale, the director now directly owns 56,730 shares of the company’s stock, valued at approximately $2,269,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,321 shares of company stock valued at $639,098. Insiders own 3.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Elkfork Partners LLC boosted its stake in LegacyTexas Financial Group by 18.2% in the first quarter. Elkfork Partners LLC now owns 2,548 shares of the financial services provider’s stock worth $102,000 after buying an additional 392 shares during the last quarter. US Bancorp DE boosted its stake in LegacyTexas Financial Group by 2,002.3% in the first quarter. US Bancorp DE now owns 6,454 shares of the financial services provider’s stock worth $258,000 after buying an additional 6,147 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in LegacyTexas Financial Group by 239.2% in the first quarter. Advisors Asset Management Inc. now owns 11,747 shares of the financial services provider’s stock worth $469,000 after buying an additional 8,284 shares during the last quarter. First Trust Advisors LP boosted its stake in LegacyTexas Financial Group by 9.0% in the first quarter. First Trust Advisors LP now owns 148,011 shares of the financial services provider’s stock worth $5,906,000 after buying an additional 12,195 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in LegacyTexas Financial Group by 7.3% in the first quarter. Great West Life Assurance Co. Can now owns 57,995 shares of the financial services provider’s stock worth $2,312,000 after buying an additional 3,921 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for LegacyTexas Financial Group (NASDAQ:LTXB)

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