Brokers Issue Forecasts for LegacyTexas Financial Group, Inc.’s Q3 2017 Earnings (NASDAQ:LTXB)

LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) – Analysts at DA Davidson boosted their Q3 2017 earnings per share estimates for shares of LegacyTexas Financial Group in a research note issued to investors on Wednesday. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings per share of $0.61 for the quarter, up from their prior estimate of $0.60. DA Davidson also issued estimates for LegacyTexas Financial Group’s FY2017 earnings at $2.19 EPS.

A number of other research firms have also commented on LTXB. Stephens restated a “hold” rating and set a $42.00 price target on shares of LegacyTexas Financial Group in a research report on Wednesday, July 19th. Zacks Investment Research upgraded shares of LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. BidaskClub upgraded shares of LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Piper Jaffray Companies restated an “overweight” rating and set a $42.00 price target (down from $47.00) on shares of LegacyTexas Financial Group in a research report on Saturday, April 22nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $45.00 price target on shares of LegacyTexas Financial Group in a research report on Wednesday, April 19th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $44.20.

TRADEMARK VIOLATION NOTICE: “Brokers Issue Forecasts for LegacyTexas Financial Group, Inc.’s Q3 2017 Earnings (NASDAQ:LTXB)” was originally published by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this piece on another site, it was illegally stolen and reposted in violation of international copyright and trademark law. The legal version of this piece can be viewed at https://transcriptdaily.com/2017/08/13/brokers-issue-forecasts-for-legacytexas-financial-group-inc-s-q3-2017-earnings-nasdaqltxb-updated-updated.html.

Shares of LegacyTexas Financial Group (NASDAQ:LTXB) opened at 39.74 on Monday. The firm’s 50-day moving average price is $37.85 and its 200-day moving average price is $39.19. The firm has a market capitalization of $1.85 billion, a P/E ratio of 19.11 and a beta of 1.15. LegacyTexas Financial Group has a one year low of $27.86 and a one year high of $44.94.

LegacyTexas Financial Group (NASDAQ:LTXB) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. LegacyTexas Financial Group had a return on equity of 10.94% and a net margin of 25.44%. The business had revenue of $88.05 million during the quarter, compared to the consensus estimate of $87.93 million. During the same period in the prior year, the business posted $0.50 earnings per share. LegacyTexas Financial Group’s quarterly revenue was up 6.0% on a year-over-year basis.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its position in LegacyTexas Financial Group by 9.0% in the first quarter. First Trust Advisors LP now owns 148,011 shares of the financial services provider’s stock worth $5,906,000 after buying an additional 12,195 shares during the period. Great West Life Assurance Co. Can raised its position in LegacyTexas Financial Group by 7.3% in the first quarter. Great West Life Assurance Co. Can now owns 57,995 shares of the financial services provider’s stock worth $2,312,000 after buying an additional 3,921 shares during the period. Wells Fargo & Company MN increased its stake in LegacyTexas Financial Group by 1.9% in the first quarter. Wells Fargo & Company MN now owns 566,567 shares of the financial services provider’s stock worth $22,607,000 after buying an additional 10,609 shares in the last quarter. Nationwide Fund Advisors increased its stake in LegacyTexas Financial Group by 50.2% in the first quarter. Nationwide Fund Advisors now owns 50,588 shares of the financial services provider’s stock worth $2,018,000 after buying an additional 16,917 shares in the last quarter. Finally, Simplex Trading LLC bought a new stake in LegacyTexas Financial Group during the first quarter worth about $357,000. Hedge funds and other institutional investors own 81.07% of the company’s stock.

In other news, COO Scott A. Almy sold 3,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $36.78, for a total transaction of $110,340.00. Following the completion of the transaction, the chief operating officer now directly owns 46,912 shares in the company, valued at approximately $1,725,423.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony J. Levecchio sold 12,000 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $40.00, for a total transaction of $480,000.00. Following the transaction, the director now owns 56,730 shares of the company’s stock, valued at $2,269,200. The disclosure for this sale can be found here. Insiders have sold a total of 16,321 shares of company stock valued at $639,098 over the last 90 days. Company insiders own 3.30% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.51%. LegacyTexas Financial Group’s dividend payout ratio (DPR) is currently 28.71%.

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.

Earnings History and Estimates for LegacyTexas Financial Group (NASDAQ:LTXB)

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

Leave a Reply