LegacyTexas Financial Group (LTXB) Stock Rating Lowered by Zacks Investment Research

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LegacyTexas Financial Group (NASDAQ:LTXB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

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. “

LTXB has been the subject of several other research reports. BidaskClub upgraded LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. ValuEngine cut LegacyTexas Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, December 5th. Raymond James cut their price objective on LegacyTexas Financial Group from $48.00 to $47.00 and set an “outperform” rating for the company in a research report on Thursday, October 18th. Finally, Stephens reiterated a “buy” rating and issued a $39.00 price objective on shares of LegacyTexas Financial Group in a research report on Wednesday, December 19th. One investment analyst has rated the stock with a sell rating, five 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 a consensus target price of $45.38.

Shares of NASDAQ LTXB opened at $40.45 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.14 and a quick ratio of 1.14. LegacyTexas Financial Group has a 1-year low of $30.18 and a 1-year high of $47.18. The firm has a market cap of $2.00 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.24 and a beta of 1.54.

LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.06. The firm had revenue of $96.56 million during the quarter, compared to analysts’ expectations of $96.43 million. LegacyTexas Financial Group had a return on equity of 13.45% and a net margin of 33.18%. During the same quarter in the prior year, the business posted $0.60 earnings per share. On average, sell-side analysts predict that LegacyTexas Financial Group will post 3.33 earnings per share for the current fiscal year.

In other news, Director George A. Fisk sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $39.00, for a total value of $156,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles D. Eikenberg sold 5,000 shares of the firm’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $40.22, for a total value of $201,100.00. The disclosure for this sale can be found here. Insiders sold 37,000 shares of company stock valued at $1,497,260 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors Inc. increased its position in shares of LegacyTexas Financial Group by 3.6% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 10,778 shares of the financial services provider’s stock valued at $346,000 after buying an additional 375 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of LegacyTexas Financial Group by 3.0% in the fourth quarter. State of Alaska Department of Revenue now owns 15,085 shares of the financial services provider’s stock valued at $484,000 after buying an additional 435 shares in the last quarter. Bank of Montreal Can increased its position in shares of LegacyTexas Financial Group by 1.2% in the fourth quarter. Bank of Montreal Can now owns 43,591 shares of the financial services provider’s stock valued at $1,398,000 after buying an additional 538 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of LegacyTexas Financial Group by 21.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,227 shares of the financial services provider’s stock valued at $104,000 after buying an additional 577 shares in the last quarter. Finally, Pearl River Capital LLC purchased a new position in shares of LegacyTexas Financial Group in the fourth quarter valued at $25,000. Institutional investors and hedge funds own 86.54% of the company’s stock.

LegacyTexas Financial Group Company Profile

LegacyTexas Financial Group, Inc operates as the holding company for LegacyTexas Bank that provides various banking products and services in the United States. Its deposit products include interest-bearing and non-interest-bearing demand accounts, savings, money market, certificates of deposit, and individual retirement accounts.

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