Piper Jaffray Companies Comments on LegacyTexas Financial Group Inc’s Q1 2019 Earnings (LTXB)

LegacyTexas Financial Group Inc (NASDAQ:LTXB) – Stock analysts at Piper Jaffray Companies reduced their Q1 2019 earnings estimates for LegacyTexas Financial Group in a research note issued on Monday, April 8th, Zacks Investment Research reports. Piper Jaffray Companies analyst B. Rabatin now expects that the financial services provider will post earnings per share of $0.65 for the quarter, down from their previous estimate of $0.80. Piper Jaffray Companies also issued estimates for LegacyTexas Financial Group’s FY2019 earnings at $3.22 EPS.

LegacyTexas Financial Group (NASDAQ:LTXB) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.12). LegacyTexas Financial Group had a net margin of 33.36% and a return on equity of 13.43%. The business had revenue of $91.06 million during the quarter, compared to analyst estimates of $94.48 million. During the same period in the previous year, the business posted $0.52 earnings per share.

Several other analysts have also commented on LTXB. BidaskClub raised LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, January 5th. Raymond James lowered LegacyTexas Financial Group from an “outperform” rating to a “market perform” rating in a report on Monday, January 7th. Zacks Investment Research raised LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. ValuEngine raised LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Finally, Stephens set a $39.00 price target on LegacyTexas Financial Group and gave the stock a “buy” rating in a research note on Tuesday, January 22nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. LegacyTexas Financial Group presently has a consensus rating of “Buy” and a consensus price target of $45.10.

LTXB traded up $1.13 during trading on Thursday, hitting $40.88. The company’s stock had a trading volume of 185,265 shares, compared to its average volume of 309,847. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 0.85. LegacyTexas Financial Group has a twelve month low of $30.18 and a twelve month high of $47.18. The firm has a market cap of $1.99 billion, a P/E ratio of 14.10, a PEG ratio of 1.26 and a beta of 1.55.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.45%. LegacyTexas Financial Group’s payout ratio is 34.48%.

In related news, CFO J. Mays Davenport sold 1,743 shares of LegacyTexas Financial Group 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 $63,549.78. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Charles D. Eikenberg sold 15,000 shares of LegacyTexas Financial Group stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $43.51, for a total value of $652,650.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,490 shares of company stock worth $1,995,430. 2.90% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in LTXB. JPMorgan Chase & Co. lifted its position in LegacyTexas Financial Group by 4.4% during the third quarter. JPMorgan Chase & Co. now owns 33,970 shares of the financial services provider’s stock worth $1,447,000 after buying an additional 1,433 shares in the last quarter. Prudential Financial Inc. raised its position in 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 during the period. Bank of New York Mellon Corp raised its position in LegacyTexas Financial Group by 5.9% in the third quarter. Bank of New York Mellon Corp now owns 607,933 shares of the financial services provider’s stock valued at $25,899,000 after purchasing an additional 33,920 shares during the period. BlackRock Inc. raised its position in LegacyTexas Financial Group by 4.8% in the third quarter. BlackRock Inc. now owns 6,607,065 shares of the financial services provider’s stock valued at $281,461,000 after purchasing an additional 302,659 shares during the period. Finally, Credit Suisse AG raised its position in LegacyTexas Financial Group by 3.9% in the third quarter. Credit Suisse AG now owns 37,661 shares of the financial services provider’s stock valued at $1,604,000 after purchasing an additional 1,406 shares during the period. Hedge funds and other institutional investors own 85.53% 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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Earnings History and Estimates for LegacyTexas Financial Group (NASDAQ:LTXB)

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