LegacyTexas Financial Group’s (LTXB) Buy Rating Reaffirmed at SunTrust Banks
SunTrust Banks restated their buy rating on shares of LegacyTexas Financial Group (NASDAQ:LTXB) in a report released on Wednesday morning. The firm currently has a $47.00 target price on the financial services provider’s stock.
LTXB has been the topic of several other research reports. Zacks Investment Research cut LegacyTexas Financial Group from a buy rating to a hold rating in a report on Friday, November 17th. Piper Jaffray Companies restated a buy rating and set a $46.50 target price on shares of LegacyTexas Financial Group in a report on Thursday, October 19th. Finally, ValuEngine cut LegacyTexas Financial Group from a buy rating to a hold rating in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $44.75.
LegacyTexas Financial Group (NASDAQ:LTXB) opened at $41.75 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.15 and a current ratio of 1.15. LegacyTexas Financial Group has a 12 month low of $31.50 and a 12 month high of $44.94. The stock has a market capitalization of $2,011.44, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.59 and a beta of 1.24.
LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings data 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 period in the prior year, the company posted $0.60 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. equities analysts anticipate that LegacyTexas Financial Group will post 2.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, November 6th were issued a $0.16 dividend. This is a boost from LegacyTexas Financial Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.64 annualized dividend and a yield of 1.53%. LegacyTexas Financial Group’s dividend payout ratio (DPR) is currently 30.19%.
In related news, Director George A. Fisk sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $42.00, for a total value of $945,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.10% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Riverhead Capital Management LLC boosted its holdings in LegacyTexas Financial Group by 74.7% during the second quarter. Riverhead Capital Management LLC now owns 2,795 shares of the financial services provider’s stock worth $107,000 after buying an additional 1,195 shares during the last quarter. Zions Bancorporation bought a new position in LegacyTexas Financial Group during the third quarter worth about $119,000. WFG Advisors LP boosted its holdings in LegacyTexas Financial Group by 0.4% during the second quarter. WFG Advisors LP now owns 3,169 shares of the financial services provider’s stock worth $121,000 after buying an additional 13 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in LegacyTexas Financial Group by 17.7% during the second quarter. Victory Capital Management Inc. now owns 3,560 shares of the financial services provider’s stock worth $136,000 after buying an additional 535 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in LegacyTexas Financial Group by 8.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,150 shares of the financial services provider’s stock worth $158,000 after buying an additional 319 shares during the last quarter. Institutional investors and hedge funds own 84.40% 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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