LegacyTexas Financial Group (NASDAQ:LTXB) Raised to Buy at BidaskClub

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BidaskClub upgraded shares of LegacyTexas Financial Group (NASDAQ:LTXB) from a hold rating to a buy rating in a research note released on Friday, BidAskClub reports.

Several other equities research analysts have also weighed in on LTXB. Zacks Investment Research lowered LegacyTexas Financial Group from a hold rating to a sell rating in a research note on Tuesday, September 10th. SunTrust Banks lowered LegacyTexas Financial Group from a buy rating to a hold rating and reduced their price objective for the stock from $43.00 to $39.05 in a research note on Tuesday, June 18th. Sandler O’Neill lowered LegacyTexas Financial Group from a buy rating to a hold rating and reduced their price objective for the stock from $43.00 to $42.00 in a research note on Tuesday, June 18th. Raymond James lowered LegacyTexas Financial Group from an outperform rating to a market perform rating and raised their price objective for the stock from $38.88 to $41.78 in a research note on Tuesday, June 18th. Finally, Piper Jaffray Companies lowered LegacyTexas Financial Group from an overweight rating to a neutral rating and reduced their price objective for the stock from $45.50 to $43.50 in a research note on Tuesday, June 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. LegacyTexas Financial Group currently has an average rating of Hold and a consensus price target of $42.33.

Shares of LTXB stock opened at $44.07 on Friday. LegacyTexas Financial Group has a 1 year low of $30.18 and a 1 year high of $46.72. The stock has a market cap of $2.11 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.40 and a beta of 1.56. The business’s fifty day moving average is $40.86 and its 200-day moving average is $39.91. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.21 and a current ratio of 1.22.

LegacyTexas Financial Group (NASDAQ:LTXB) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.19). LegacyTexas Financial Group had a net margin of 32.39% and a return on equity of 13.08%. The firm had revenue of $97.79 million for the quarter, compared to analyst estimates of $99.13 million. Equities research analysts predict that LegacyTexas Financial Group will post 3.08 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Friday, August 2nd. LegacyTexas Financial Group’s dividend payout ratio is presently 34.48%.

In other news, COO Scott A. Almy sold 1,416 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $42.88, for a total value of $60,718.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles D. Eikenberg sold 1,821 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $42.88, for a total value of $78,084.48. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Quantamental Technologies LLC acquired a new stake in shares of LegacyTexas Financial Group in the second quarter worth $122,000. Cubist Systematic Strategies LLC acquired a new stake in LegacyTexas Financial Group during the second quarter valued at $223,000. Everence Capital Management Inc. acquired a new stake in LegacyTexas Financial Group during the first quarter valued at $209,000. CWM LLC acquired a new stake in LegacyTexas Financial Group during the second quarter valued at $254,000. Finally, Gamco Investors INC. ET AL acquired a new stake in LegacyTexas Financial Group during the second quarter valued at $301,000. 83.09% of the stock is owned by institutional investors and hedge funds.

About LegacyTexas Financial Group

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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Analyst Recommendations for LegacyTexas Financial Group (NASDAQ:LTXB)

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