LegacyTexas Financial Group Inc. (NASDAQ:LTXB) announced its earnings results on Tuesday. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.10. LegacyTexas Financial Group had a return on equity of 9.45% and a net margin of 23.58%. During the same quarter in the prior year, the business posted $0.39 earnings per share.
LegacyTexas Financial Group (NASDAQ:LTXB) opened at 32.41 on Wednesday. The company’s 50 day moving average price is $31.58 and its 200 day moving average price is $27.54. LegacyTexas Financial Group has a 52-week low of $16.79 and a 52-week high of $33.97. The company has a market cap of $1.50 billion, a P/E ratio of 18.95 and a beta of 1.11.
Several analysts recently weighed in on LTXB shares. Zacks Investment Research downgraded LegacyTexas Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. Compass Point increased their target price on LegacyTexas Financial Group from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, July 21st. Hovde Group raised their price objective on LegacyTexas Financial Group from $27.00 to $30.00 and gave the stock a “market perform” rating in a research report on Thursday, July 21st. Finally, Raymond James Financial Inc. downgraded LegacyTexas Financial Group from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $32.00 to $31.00 in a research report on Thursday, July 21st. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $30.86.
Several hedge funds have recently added to or reduced their stakes in the stock. Ranger Investment Management L.P. bought a new stake in LegacyTexas Financial Group during the second quarter worth about $15,369,000. Teachers Advisors Inc. increased its stake in LegacyTexas Financial Group by 467.6% in the second quarter. Teachers Advisors Inc. now owns 400,596 shares of the financial services provider’s stock worth $10,780,000 after buying an additional 330,022 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in LegacyTexas Financial Group by 19.8% in the second quarter. PNC Financial Services Group Inc. now owns 1,671,612 shares of the financial services provider’s stock worth $44,984,000 after buying an additional 276,268 shares in the last quarter. Monarch Partners Asset Management LLC acquired a new position in shares of LegacyTexas Financial Group during the second quarter worth $5,806,000. Finally, Kennedy Capital Management Inc. increased its position in shares of LegacyTexas Financial Group by 36.0% in the first quarter. Kennedy Capital Management Inc. now owns 609,811 shares of the financial services provider’s stock worth $11,983,000 after buying an additional 161,490 shares during the period. 74.62% 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 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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