LegacyTexas Financial Group, Inc. (LTXB) Rating Reiterated by FBR & Co

LegacyTexas Financial Group, Inc. (LTXB) Rating Reiterated by FBR & Co

LegacyTexas Financial Group, Inc. (NASDAQ:LTXB)‘s stock had its “buy” rating reaffirmed by equities research analysts at FBR & Co in a note issued to investors on Thursday. They currently have a $46.00 price objective on the financial services provider’s stock. FBR & Co’s price target points to a potential upside of 9.76% from the stock’s current price.

The analysts wrote, “LTXB reported 4Q16 EPS of $0.54, below our $0.56 estimate. The miss was largely due to elevated provision expenses (due to two energy credits being downgraded to nonperforming) and a lower net interest margin (NIM) due to incrementally higher deposit costs. We think NPAs and provisioning costs will improve in 1Q17, in part given that the energy sector is in the later stages of recovery. We are also expecting funding costs to continue rising in 1Q17, but they should be offset by discount accretion income from an energy loan acquired at a discount in late 4Q16. On the strategic front, while LTXB continues to actively examine acquisition, merger, or possible sale options, we think nothing is going to happen in 1Q17. LTXB appears to be taking a wait-and-see attitude to possible changes in the regulatory environment for banks and how that will affect mergers and acquisitions.””

LTXB has been the subject of several other research reports. Zacks Investment Research upgraded LegacyTexas Financial Group from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Wednesday, January 4th. Compass Point cut LegacyTexas Financial Group from a “buy” rating to a “neutral” rating in a research note on Friday, November 18th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. LegacyTexas Financial Group has a consensus rating of “Buy” and an average price target of $36.33.

LegacyTexas Financial Group (NASDAQ:LTXB) opened at 41.91 on Thursday. The stock’s 50 day moving average price is $42.31 and its 200 day moving average price is $34.87. The company has a market cap of $1.94 billion, a P/E ratio of 20.05 and a beta of 1.12. LegacyTexas Financial Group has a 1-year low of $16.79 and a 1-year high of $44.20.

LegacyTexas Financial Group (NASDAQ:LTXB) last announced its quarterly earnings data on Tuesday, January 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.03. LegacyTexas Financial Group had a net margin of 26.78% and a return on equity of 11.18%. During the same period in the previous year, the firm posted $0.35 EPS. On average, equities analysts anticipate that LegacyTexas Financial Group will post $2.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 17th. Investors of record on Monday, February 6th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Thursday, February 2nd. LegacyTexas Financial Group’s dividend payout ratio (DPR) is presently 28.57%.

In related news, Director George A. Fisk sold 20,000 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $36.84, for a total transaction of $736,800.00. Following the completion of the sale, the director now owns 298,481 shares in the company, valued at $10,996,040.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Brian Mccall sold 5,000 shares of the company’s stock in a transaction on Thursday, December 22nd. The shares were sold at an average price of $42.72, for a total value of $213,600.00. Following the sale, the director now owns 57,484 shares of the company’s stock, valued at approximately $2,455,716.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,350 shares of company stock valued at $4,214,331. 3.30% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its stake in LegacyTexas Financial Group by 1,264.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,856 shares of the financial services provider’s stock valued at $131,000 after buying an additional 4,500 shares in the last quarter. Quantbot Technologies LP raised its stake in LegacyTexas Financial Group by 76.7% in the third quarter. Quantbot Technologies LP now owns 4,566 shares of the financial services provider’s stock valued at $144,000 after buying an additional 1,982 shares in the last quarter. PineBridge Investments L.P. raised its stake in LegacyTexas Financial Group by 3.8% in the second quarter. PineBridge Investments L.P. now owns 5,559 shares of the financial services provider’s stock valued at $150,000 after buying an additional 203 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in LegacyTexas Financial Group during the third quarter valued at about $158,000. Finally, Teacher Retirement System of Texas raised its stake in LegacyTexas Financial Group by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 6,317 shares of the financial services provider’s stock valued at $170,000 after buying an additional 763 shares in the last quarter. 78.65% of the stock is owned by institutional investors and hedge funds.

LegacyTexas Financial Group Company Profile

LegacyTexas Financial Group, Inc is a bank holding company. LegacyTexas Bank is its wholly owned principal operating subsidiary. The Company is engaged in attracting retail deposits from the general public and the 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.

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