LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) – SunTrust Banks increased their FY2017 earnings per share (EPS) estimates for LegacyTexas Financial Group in a note issued to investors on Wednesday. SunTrust Banks analyst M. Young now forecasts that the financial services provider will post earnings per share of $2.20 for the year, up from their previous forecast of $2.16. SunTrust Banks has a “Buy” rating and a $45.00 price objective on the stock. SunTrust Banks also issued estimates for LegacyTexas Financial Group’s Q4 2017 earnings at $0.62 EPS, Q1 2018 earnings at $0.63 EPS, Q2 2018 earnings at $0.68 EPS, Q3 2018 earnings at $0.71 EPS, Q4 2018 earnings at $0.68 EPS, FY2018 earnings at $2.70 EPS and FY2019 earnings at $3.00 EPS.
LegacyTexas Financial Group (NASDAQ:LTXB) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.61. LegacyTexas Financial Group had a return on equity of 10.85% and a net margin of 24.77%. The business had revenue of $91.10 million during the quarter, compared to analyst estimates of $91.51 million. During the same quarter in the prior year, the business posted $0.60 EPS. LegacyTexas Financial Group’s revenue for the quarter was up 3.4% compared to the same quarter last year.
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A number of other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of LegacyTexas Financial Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. 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. BidaskClub upgraded shares of LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Piper Jaffray Companies reiterated a “buy” rating and issued a $46.50 price objective on shares of LegacyTexas Financial Group in a research report on Friday, August 25th. Finally, ValuEngine downgraded shares of LegacyTexas Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. 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 currently has an average rating of “Hold” and a consensus price target of $44.42.
Shares of LegacyTexas Financial Group (LTXB) opened at 40.84 on Friday. The firm has a 50-day moving average price of $38.51 and a 200-day moving average price of $37.61. LegacyTexas Financial Group has a 52 week low of $31.14 and a 52 week high of $44.94. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 19.46 and a beta of 1.17.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be paid a dividend of $0.16 per share. 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 1.57%. This is a boost from LegacyTexas Financial Group’s previous quarterly dividend of $0.15. LegacyTexas Financial Group’s payout ratio is currently 28.30%.
In related news, Director Arcilia Acosta bought 3,590 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was acquired at an average price of $36.02 per share, with a total value of $129,311.80. Following the completion of the purchase, the director now directly owns 26,008 shares of the company’s stock, valued at $936,808.16. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director George A. Fisk sold 22,500 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $41.00, for a total transaction of $922,500.00. The disclosure for this sale can be found here. 3.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC purchased a new stake in LegacyTexas Financial Group during the 2nd quarter valued at about $344,000. AQR Capital Management LLC grew its stake in LegacyTexas Financial Group by 67.7% during the 1st quarter. AQR Capital Management LLC now owns 109,373 shares of the financial services provider’s stock valued at $4,364,000 after acquiring an additional 44,149 shares in the last quarter. Stieven Capital Advisors L.P. purchased a new stake in LegacyTexas Financial Group during the 2nd quarter valued at about $7,229,000. TIAA CREF Investment Management LLC grew its stake in LegacyTexas Financial Group by 5.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 363,128 shares of the financial services provider’s stock valued at $13,846,000 after acquiring an additional 19,695 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in LegacyTexas Financial Group by 436.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 68,890 shares of the financial services provider’s stock valued at $2,626,000 after acquiring an additional 56,040 shares in the last quarter. 82.26% of the stock is owned by institutional investors.
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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