LegacyTexas Financial Group (LTXB) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of LegacyTexas Financial Group (NASDAQ:LTXB) from a strong sell rating to a sell rating in a report published on Thursday, March 28th, BidAskClub reports.

A number of other research analysts also recently issued reports 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 Wednesday, March 20th. ValuEngine downgraded shares of LegacyTexas Financial Group from a hold rating to a sell rating in a research report on Monday, March 11th. Finally, Stephens downgraded shares of LegacyTexas Financial Group from an overweight rating to an equal weight rating and set a $45.00 price target for the company. in a research report on Wednesday, March 6th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $45.90.

LTXB stock traded down $0.20 during trading on Thursday, hitting $40.19. 168,708 shares of the company’s stock traded hands, compared to its average volume of 303,025. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.22 and a beta of 1.55. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.88. LegacyTexas Financial Group has a 1 year low of $30.18 and a 1 year high of $47.18.

LegacyTexas Financial Group (NASDAQ:LTXB) last issued its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.06. The company had revenue of $96.56 million for the quarter, compared to analyst estimates of $96.43 million. LegacyTexas Financial Group had a net margin of 33.18% and a return on equity of 13.45%. During the same period last year, the company posted $0.60 earnings per share. Analysts anticipate that LegacyTexas Financial Group will post 3.29 EPS for the current fiscal year.

In other news, COO Scott A. Almy sold 1,691 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $36.44, for a total value of $61,620.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles D. Eikenberg sold 1,537 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $36.46, for a total transaction of $56,039.02. The disclosure for this sale can be found here. In the last three months, insiders sold 53,490 shares of company stock valued at $2,196,530. Corporate insiders own 2.90% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in LegacyTexas Financial Group by 56.0% in the third quarter. Russell Investments Group Ltd. now owns 31,552 shares of the financial services provider’s stock valued at $1,344,000 after purchasing an additional 11,324 shares during the period. JPMorgan Chase & Co. grew its position in shares of LegacyTexas Financial Group by 4.4% in the third quarter. JPMorgan Chase & Co. now owns 33,970 shares of the financial services provider’s stock valued at $1,447,000 after purchasing an additional 1,433 shares in the last quarter. Prudential Financial Inc. grew its position in shares of LegacyTexas Financial Group by 4.3% in the third quarter. Prudential Financial Inc. now owns 75,632 shares of the financial services provider’s stock valued at $3,222,000 after purchasing an additional 3,150 shares in the last quarter. Rhumbline Advisers grew its position in shares of LegacyTexas Financial Group by 1.9% in the third quarter. Rhumbline Advisers now owns 110,617 shares of the financial services provider’s stock valued at $4,712,000 after purchasing an additional 2,062 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in LegacyTexas Financial Group by 19.5% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,736 shares of the financial services provider’s stock worth $457,000 after buying an additional 1,752 shares in the last quarter. Hedge funds and other institutional investors own 86.04% 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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