LegacyTexas Financial Group (LTXB) Issues Quarterly Earnings Results
LegacyTexas Financial Group (NASDAQ:LTXB) announced its earnings results on Tuesday. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.02), Bloomberg Earnings reports. LegacyTexas Financial Group had a return on equity of 6.14% and a net margin of 16.83%. The business had revenue of $87.10 million for the quarter, compared to analysts’ expectations of $91.99 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year.
Shares of LegacyTexas Financial Group (NASDAQ:LTXB) traded up $0.25 during midday trading on Wednesday, hitting $44.74. The stock had a trading volume of 250,300 shares, compared to its average volume of 213,673. LegacyTexas Financial Group has a twelve month low of $31.50 and a twelve month high of $46.03. The stock has a market capitalization of $2,137.30, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.25 and a beta of 1.24. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.15 and a current ratio of 1.15.
A number of analysts have recently issued reports on LTXB shares. SunTrust Banks reaffirmed a “buy” rating and set a $44.00 target price on shares of LegacyTexas Financial Group in a research report on Wednesday, October 4th. Zacks Investment Research raised LegacyTexas Financial Group from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Friday, October 6th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $46.50 target price on shares of LegacyTexas Financial Group in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $45.58.
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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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