Monarch Partners Asset Management LLC acquired a new stake in shares of LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) during the second quarter, Holdings Channel reports. The institutional investor acquired 398,695 shares of the financial services provider’s stock, valued at approximately $15,202,000. LegacyTexas Financial Group comprises approximately 1.5% of Monarch Partners Asset Management LLC’s investment portfolio, making the stock its 9th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in LTXB. Norges Bank purchased a new position in LegacyTexas Financial Group during the fourth quarter valued at $13,101,000. Bank of Montreal Can increased its position in LegacyTexas Financial Group by 12.7% in the first quarter. Bank of Montreal Can now owns 3,396 shares of the financial services provider’s stock valued at $136,000 after buying an additional 382 shares during the last quarter. Louisiana State Employees Retirement System increased its position in LegacyTexas Financial Group by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the financial services provider’s stock valued at $678,000 after buying an additional 300 shares during the last quarter. State of Alaska Department of Revenue increased its position in LegacyTexas Financial Group by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,600 shares of the financial services provider’s stock valued at $183,000 after buying an additional 110 shares during the last quarter. Finally, Simplex Trading LLC purchased a new position in LegacyTexas Financial Group during the first quarter valued at $357,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Shares of LegacyTexas Financial Group, Inc. (LTXB) opened at 36.85 on Friday. LegacyTexas Financial Group, Inc. has a one year low of $29.00 and a one year high of $44.94. The firm’s 50-day moving average price is $38.18 and its 200-day moving average price is $38.95. The firm has a market cap of $1.71 billion, a PE ratio of 17.56 and a beta of 1.14.

LegacyTexas Financial Group (NASDAQ:LTXB) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The company had revenue of $88.05 million for the quarter, compared to analysts’ expectations of $87.93 million. LegacyTexas Financial Group had a return on equity of 10.94% and a net margin of 25.44%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. Equities research analysts expect that LegacyTexas Financial Group, Inc. will post $2.20 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be issued a $0.15 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.63%. LegacyTexas Financial Group’s dividend payout ratio is currently 28.71%.

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Several equities analysts recently weighed in on LTXB shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $45.00 price objective on shares of LegacyTexas Financial Group in a research note on Wednesday, April 19th. Stephens cut LegacyTexas Financial Group from an “overweight” rating to an “equal weight” rating and set a $46.00 target price on the stock. in a report on Wednesday, April 19th. Piper Jaffray Companies reiterated an “overweight” rating and set a $42.00 target price (down previously from $47.00) on shares of LegacyTexas Financial Group in a report on Saturday, April 22nd. BidaskClub cut LegacyTexas Financial Group from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Finally, Zacks Investment Research cut LegacyTexas Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $44.20.

In other LegacyTexas Financial Group news, Director Anthony J. Levecchio sold 12,000 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $40.00, for a total transaction of $480,000.00. Following the sale, the director now directly owns 56,730 shares of the company’s stock, valued at approximately $2,269,200. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 13,321 shares of company stock worth $528,758 in the last ninety days. 3.30% of the stock is owned by corporate insiders.

About LegacyTexas Financial Group

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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Institutional Ownership by Quarter for LegacyTexas Financial Group (NASDAQ:LTXB)

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