BidaskClub Lowers LegacyTexas Financial Group (LTXB) to Sell

Share on StockTwits

BidaskClub downgraded shares of LegacyTexas Financial Group (NASDAQ:LTXB) from a hold rating to a sell rating in a report issued on Thursday morning.

A number of other brokerages have also recently weighed in on LTXB. Raymond James cut LegacyTexas Financial Group from an outperform rating to a market perform rating in a research report on Monday, January 7th. ValuEngine upgraded LegacyTexas Financial Group from a sell rating to a hold rating in a research report on Saturday, January 19th. Stephens set a $39.00 price target on LegacyTexas Financial Group and gave the company a buy rating in a research report on Tuesday, January 22nd. Finally, Zacks Investment Research upgraded LegacyTexas Financial Group from a sell rating to a hold rating in a report on Tuesday, February 19th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. LegacyTexas Financial Group has an average rating of Hold and a consensus target price of $46.88.

Shares of NASDAQ:LTXB opened at $38.80 on Thursday. LegacyTexas Financial Group has a fifty-two week low of $30.18 and a fifty-two week high of $47.18. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.17 and a beta of 1.57. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88.

LegacyTexas Financial Group (NASDAQ:LTXB) last announced its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. LegacyTexas Financial Group had a return on equity of 13.45% and a net margin of 33.18%. The firm had revenue of $96.56 million for the quarter, compared to analysts’ expectations of $96.43 million. During the same period in the prior year, the business posted $0.60 earnings per share. As a group, research analysts predict that LegacyTexas Financial Group will post 3.33 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 19th. Stockholders of record on Tuesday, February 5th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, February 4th. This is a boost from LegacyTexas Financial Group’s previous quarterly dividend of $0.22. LegacyTexas Financial Group’s dividend payout ratio is presently 34.48%.

In other news, Director James Brian Mccall sold 28,000 shares of the stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $40.72, for a total transaction of $1,140,160.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Charles D. Eikenberg sold 5,000 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $40.22, for a total value of $201,100.00. The disclosure for this sale can be found here. Insiders have sold 48,519 shares of company stock worth $2,015,321 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of LegacyTexas Financial Group by 2.3% during the fourth quarter. BlackRock Inc. now owns 6,758,999 shares of the financial services provider’s stock valued at $216,895,000 after acquiring an additional 151,934 shares during the period. Vanguard Group Inc. lifted its stake in shares of LegacyTexas Financial Group by 3.0% during the third quarter. Vanguard Group Inc. now owns 4,543,854 shares of the financial services provider’s stock valued at $193,568,000 after acquiring an additional 132,993 shares during the period. Vanguard Group Inc lifted its stake in shares of LegacyTexas Financial Group by 3.0% during the third quarter. Vanguard Group Inc now owns 4,543,854 shares of the financial services provider’s stock valued at $193,568,000 after acquiring an additional 132,993 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of LegacyTexas Financial Group by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,407,391 shares of the financial services provider’s stock valued at $77,253,000 after acquiring an additional 18,586 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of LegacyTexas Financial Group by 19.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,046,851 shares of the financial services provider’s stock valued at $33,593,000 after acquiring an additional 169,248 shares during the period. 85.39% of the stock is currently 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.

Further Reading: What is Call Option Volume?

Analyst Recommendations for LegacyTexas Financial Group (NASDAQ:LTXB)

Receive News & Ratings for LegacyTexas Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LegacyTexas Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.