LegacyTexas Financial Group Inc (NASDAQ:LTXB) – Investment analysts at SunTrust Banks lifted their Q1 2018 earnings per share (EPS) estimates for LegacyTexas Financial Group in a research report issued on Monday. SunTrust Banks analyst M. Young now anticipates that the financial services provider will post earnings per share of $0.75 for the quarter, up from their prior forecast of $0.63. SunTrust Banks currently has a “Buy” rating and a $47.00 price target on the stock. SunTrust Banks also issued estimates for LegacyTexas Financial Group’s Q2 2018 earnings at $0.81 EPS.
A number of other research firms also recently issued reports on LTXB. Zacks Investment Research raised shares of LegacyTexas Financial Group from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Friday, October 6th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $46.50 price target on shares of LegacyTexas Financial Group in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. LegacyTexas Financial Group presently has an average rating of “Hold” and a consensus target price of $45.25.
LegacyTexas Financial Group (NASDAQ:LTXB) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.61. The company had revenue of $91.10 million during the quarter, compared to analyst estimates of $91.51 million. LegacyTexas Financial Group had a net margin of 24.77% and a return on equity of 10.85%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 earnings per share.
Institutional investors and hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new stake in shares of LegacyTexas Financial Group in the second quarter valued at $344,000. Comerica Bank raised its stake in shares of LegacyTexas Financial Group by 46.7% in the third quarter. Comerica Bank now owns 194,553 shares of the financial services provider’s stock valued at $7,784,000 after acquiring an additional 61,932 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of LegacyTexas Financial Group by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 36,970 shares of the financial services provider’s stock valued at $1,410,000 after acquiring an additional 2,763 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of LegacyTexas Financial Group by 5.7% in the second quarter. TIAA CREF Investment Management LLC now owns 363,128 shares of the financial services provider’s stock valued at $13,846,000 after acquiring an additional 19,695 shares during the period. Finally, Trexquant Investment LP purchased a new stake in shares of LegacyTexas Financial Group in the third quarter valued at $328,000. 84.42% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Greg Wilkinson sold 5,000 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $43.00, for a total value of $215,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director George A. Fisk sold 22,500 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $42.00, for a total transaction of $945,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,000 shares of company stock worth $2,082,500. 3.10% of the stock is owned by insiders.
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About LegacyTexas Financial Group
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.
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