LegacyTexas Financial Group (NASDAQ:LTXB) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of LegacyTexas Financial Group (NASDAQ:LTXB) from a buy rating to a hold rating in a research note published on Tuesday, January 9th.

According to Zacks, “LegacyTexas Financial Group, Inc. is a bank holding company. The company’s holdings include LegacyTexas Bank. The Bank offers commercial, small business, and consumer deposit and lending products, title and insurance services through its bank subsidiaries, LegacyTexas Title and LegacyTexas Insurance. It also offers brokerage services for the purchase and sale of non-deposit investment products. LegacyTexas Financial Group, Inc., formerly known as ViewPoint Financial Group, Inc., is based in Plano, Texas. “

A number of other equities research analysts also recently issued reports on the company. SunTrust Banks restated a buy rating and set a $47.00 price target on shares of LegacyTexas Financial Group in a research note on Wednesday, November 29th. Piper Jaffray Companies reaffirmed a buy rating and set a $46.50 price objective on shares of LegacyTexas Financial Group in a research report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. LegacyTexas Financial Group has an average rating of Buy and a consensus target price of $45.58.

LegacyTexas Financial Group (LTXB) traded up $0.64 on Tuesday, hitting $44.81. The stock had a trading volume of 218,455 shares, compared to its average volume of 218,015. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.19. The stock has a market cap of $2,130.58, a price-to-earnings ratio of 21.14, a PEG ratio of 1.25 and a beta of 1.24. LegacyTexas Financial Group has a 12-month low of $31.50 and a 12-month high of $46.03.

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 (EPS) for the quarter, hitting the consensus estimate of $0.61. LegacyTexas Financial Group had a return on equity of 10.85% and a net margin of 24.77%. The firm had revenue of $91.10 million during the quarter, compared to analyst estimates of $91.51 million. During the same quarter in the previous year, the firm earned $0.60 EPS. LegacyTexas Financial Group’s quarterly revenue was up 3.4% compared to the same quarter last year. equities analysts anticipate that LegacyTexas Financial Group will post 2.2 EPS for the current fiscal year.

In other news, Director George A. Fisk sold 22,500 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $42.00, for a total transaction of $945,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Greg Wilkinson sold 5,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $43.00, for a total value of $215,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock worth $2,082,500. Corporate insiders own 3.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Riverhead Capital Management LLC raised its stake in LegacyTexas Financial Group by 74.7% in the second quarter. Riverhead Capital Management LLC now owns 2,795 shares of the financial services provider’s stock valued at $107,000 after buying an additional 1,195 shares during the last quarter. Zions Bancorporation purchased a new stake in LegacyTexas Financial Group in the third quarter valued at about $119,000. 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 during the last quarter. Victory Capital Management Inc. raised its stake in LegacyTexas Financial Group by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,560 shares of the financial services provider’s stock valued at $136,000 after buying an additional 535 shares during 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 during the last quarter. Hedge funds and other institutional investors own 84.42% of the company’s stock.

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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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