LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) had its price objective hoisted by investment analysts at SunTrust Banks, Inc. from $44.00 to $45.00 in a research report issued on Thursday. The brokerage presently has a “buy” rating on the financial services provider’s stock. SunTrust Banks, Inc.’s target price indicates a potential upside of 12.64% from the company’s current price.
Several other brokerages have also weighed in on LTXB. Zacks Investment Research raised shares of LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. BidaskClub raised shares of LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Piper Jaffray Companies reissued a “buy” rating and issued a $46.50 price objective on shares of LegacyTexas Financial Group in a research report on Friday, August 25th. ValuEngine lowered shares of LegacyTexas Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, Stephens reissued a “hold” rating and issued a $42.00 price objective on shares of LegacyTexas Financial Group in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. LegacyTexas Financial Group currently has a consensus rating of “Hold” and a consensus price target of $44.42.
LegacyTexas Financial Group (LTXB) traded up 1.73% on Thursday, hitting $40.64. 159,146 shares of the stock traded hands. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 19.36 and a beta of 1.17. LegacyTexas Financial Group has a 52 week low of $31.14 and a 52 week high of $44.94. The firm’s 50 day moving average is $38.51 and its 200 day moving average is $37.61.
LegacyTexas Financial Group (NASDAQ:LTXB) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The company had revenue of $91.10 million for the quarter, compared to analyst estimates of $91.51 million. LegacyTexas Financial Group had a net margin of 25.44% and a return on equity of 10.94%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. Equities analysts anticipate that LegacyTexas Financial Group will post $2.20 earnings per share for the current year.
In other LegacyTexas Financial Group news, Director Arcilia Acosta purchased 3,590 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were acquired at an average cost of $36.02 per share, with a total value of $129,311.80. Following the completion of the transaction, the director now owns 26,008 shares in the company, valued at $936,808.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.30% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC bought a new position in LegacyTexas Financial Group in the 2nd quarter valued at about $344,000. AQR Capital Management LLC increased its holdings in LegacyTexas Financial Group by 67.7% in the 1st quarter. AQR Capital Management LLC now owns 109,373 shares of the financial services provider’s stock valued at $4,364,000 after buying an additional 44,149 shares during the period. Stieven Capital Advisors L.P. bought a new position in LegacyTexas Financial Group in the 2nd quarter valued at about $7,229,000. TIAA CREF Investment Management LLC increased its holdings in LegacyTexas Financial Group by 5.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 363,128 shares of the financial services provider’s stock valued at $13,846,000 after buying an additional 19,695 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in LegacyTexas Financial Group by 436.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 68,890 shares of the financial services provider’s stock valued at $2,626,000 after buying an additional 56,040 shares during the period. 82.26% of the stock is currently owned by institutional investors and hedge funds.
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.