Parametric Portfolio Associates LLC Boosts Holdings in LegacyTexas Financial Group, Inc. (LTXB)
Parametric Portfolio Associates LLC boosted its position in shares of LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) by 29.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,621 shares of the financial services provider’s stock after buying an additional 8,547 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.08% of LegacyTexas Financial Group worth $1,434,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of LTXB. UBS Asset Management Americas Inc. lifted its holdings in LegacyTexas Financial Group by 49.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 22,576 shares of the financial services provider’s stock worth $901,000 after buying an additional 7,503 shares in the last quarter. OppenheimerFunds Inc. acquired a new position in LegacyTexas Financial Group during the 1st quarter worth $296,000. Wellington Management Group LLP acquired a new position in LegacyTexas Financial Group during the 1st quarter worth $325,000. California Public Employees Retirement System lifted its holdings in LegacyTexas Financial Group by 36.0% during the 1st quarter. California Public Employees Retirement System now owns 48,400 shares of the financial services provider’s stock worth $1,931,000 after buying an additional 12,800 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in LegacyTexas Financial Group by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 4,003,577 shares of the financial services provider’s stock worth $159,743,000 after buying an additional 294,036 shares in the last quarter. 81.62% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director George A. Fisk sold 22,500 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $41.00, for a total value of $922,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arcilia Acosta acquired 3,590 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average price of $36.02 per share, with a total value of $129,311.80. Following the transaction, the director now owns 26,008 shares in the company, valued at $936,808.16. The disclosure for this purchase can be found here. Corporate insiders own 3.30% of the company’s stock.
Several research firms have issued reports on LTXB. Piper Jaffray Companies reaffirmed a “buy” rating and set a $46.50 price objective on shares of LegacyTexas Financial Group in a report on Thursday, October 19th. Stephens reaffirmed a “hold” rating and set a $42.00 price objective on shares of LegacyTexas Financial Group in a report on Wednesday, July 19th. ValuEngine downgraded LegacyTexas Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. SunTrust Banks, Inc. upped their price objective on LegacyTexas Financial Group from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, BidaskClub downgraded LegacyTexas Financial Group from a “hold” rating to a “sell” rating in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $44.42.
LegacyTexas Financial Group, Inc. (NASDAQ LTXB) opened at $37.75 on Tuesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market capitalization of $1,767.87, a price-to-earnings ratio of 17.44, a PEG ratio of 1.40 and a beta of 1.23. LegacyTexas Financial Group, Inc. has a 12 month low of $31.50 and a 12 month high of $44.94.
LegacyTexas Financial Group (NASDAQ:LTXB) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.61 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.61. The company had revenue of $91.10 million for the quarter, compared to the consensus estimate of $91.51 million. LegacyTexas Financial Group had a return on equity of 10.85% and a net margin of 24.77%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 EPS. sell-side analysts forecast that LegacyTexas Financial Group, Inc. will post 2.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from LegacyTexas Financial Group’s previous quarterly dividend of $0.15. LegacyTexas Financial Group’s dividend payout ratio is 30.19%.
LegacyTexas Financial Group 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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