LegacyTexas Financial Group’s (LTXB) Buy Rating Reaffirmed at Piper Jaffray Companies
Piper Jaffray Companies reaffirmed their buy rating on shares of LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) in a research report report published on Friday. They currently have a $46.50 price objective on the financial services provider’s stock.
LTXB has been the topic of a number of other reports. Zacks Investment Research cut shares of LegacyTexas Financial Group from a hold rating to a sell rating in a research note on Thursday, July 6th. BidaskClub lowered shares of LegacyTexas Financial Group from a hold rating to a sell rating in a research report on Saturday, June 24th. Finally, Stephens reiterated a hold rating and issued a $42.00 price objective on shares of LegacyTexas Financial Group in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. LegacyTexas Financial Group currently has a consensus rating of Hold and a consensus price target of $45.10.
LegacyTexas Financial Group (NASDAQ:LTXB) traded up 0.22% during midday trading on Friday, reaching $36.62. 84,619 shares of the company’s stock were exchanged. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 17.45 and a beta of 1.14. LegacyTexas Financial Group has a 12-month low of $29.84 and a 12-month high of $44.94. The stock’s 50-day moving average is $37.80 and its 200-day moving average is $38.56.
LegacyTexas Financial Group (NASDAQ:LTXB) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. LegacyTexas Financial Group had a net margin of 25.44% and a return on equity of 10.94%. The business had revenue of $88.05 million for the quarter, compared to analysts’ expectations of $87.93 million. During the same period in the prior year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts forecast that LegacyTexas Financial Group will post $2.20 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.64%. LegacyTexas Financial Group’s dividend payout ratio is presently 28.71%.
In related news, Director Anthony J. Levecchio sold 12,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $2,269,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.30% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Phocas Financial Corp. acquired a new stake in LegacyTexas Financial Group during the second quarter valued at approximately $9,212,000. WFG Advisors LP raised its stake in LegacyTexas Financial Group by 0.4% in the second quarter. WFG Advisors LP now owns 3,169 shares of the financial services provider’s stock valued at $121,000 after buying an additional 13 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in LegacyTexas Financial Group during the second quarter valued at approximately $344,000. Westwood Holdings Group Inc. raised its stake in LegacyTexas Financial Group by 46.3% in the second quarter. Westwood Holdings Group Inc. now owns 528,607 shares of the financial services provider’s stock valued at $20,156,000 after buying an additional 167,230 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in LegacyTexas Financial Group by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,150 shares of the financial services provider’s stock valued at $158,000 after buying an additional 319 shares in the last quarter. Institutional investors and hedge funds own 82.58% of the company’s stock.
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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