Sandler O’Neill Lowers LegacyTexas Financial Group (NASDAQ:LTXB) to Hold

Sandler O’Neill lowered shares of LegacyTexas Financial Group (NASDAQ:LTXB) from a buy rating to a hold rating in a research report sent to investors on Tuesday, June 18th, Stock Target Advisor reports. The firm currently has $42.00 price objective on the financial services provider’s stock, down from their previous price objective of $43.00.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of LegacyTexas Financial Group from a hold rating to a buy rating and set a $42.00 price objective for the company in a report on Saturday, March 30th. BidaskClub lowered shares of LegacyTexas Financial Group from a strong-buy rating to a buy rating in a report on Tuesday, March 5th. DA Davidson reiterated a buy rating on shares of LegacyTexas Financial Group in a research report on Wednesday, April 24th. Stephens downgraded LegacyTexas Financial Group from an overweight rating to an equal weight rating and set a $45.00 target price for the company. in a research report on Wednesday, March 6th. Finally, ValuEngine upgraded LegacyTexas Financial Group from a sell rating to a hold rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. The stock has a consensus rating of Hold and a consensus price target of $42.79.

NASDAQ LTXB opened at $41.09 on Tuesday. LegacyTexas Financial Group has a 52 week low of $30.18 and a 52 week high of $47.18. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 1.30 and a beta of 1.55. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 0.85. The company’s 50-day simple moving average is $38.83.

LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.12). The business had revenue of $91.06 million for the quarter, compared to analysts’ expectations of $94.48 million. LegacyTexas Financial Group had a net margin of 33.36% and a return on equity of 13.43%. During the same period in the previous year, the company earned $0.52 EPS. As a group, analysts forecast that LegacyTexas Financial Group will post 3.13 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace North America L.P. purchased a new stake in shares of LegacyTexas Financial Group during the first quarter worth approximately $583,000. Marshall Wace LLP acquired a new position in LegacyTexas Financial Group during the first quarter worth $2,179,000. Westwood Holdings Group Inc. boosted its stake in LegacyTexas Financial Group by 26.8% during the first quarter. Westwood Holdings Group Inc. now owns 842,785 shares of the financial services provider’s stock worth $31,512,000 after buying an additional 178,237 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new position in LegacyTexas Financial Group during the first quarter worth $318,000. Finally, Piedmont Investment Advisors Inc. boosted its stake in LegacyTexas Financial Group by 5.9% during the first quarter. Piedmont Investment Advisors Inc. now owns 11,411 shares of the financial services provider’s stock worth $427,000 after buying an additional 633 shares during the last quarter. Institutional investors own 85.18% of the company’s stock.

LegacyTexas Financial Group Company Profile

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.

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Analyst Recommendations for LegacyTexas Financial Group (NASDAQ:LTXB)

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