LegacyTexas Financial Group Inc (LTXB) Announces Earnings Results
LegacyTexas Financial Group Inc (NASDAQ:LTXB) released its earnings results on Tuesday. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.08, Market Beat.com reports. During the same period last year, the firm posted $0.29 earnings per share.
LegacyTexas Financial Group (NASDAQ:LTXB) opened at 18.59 on Wednesday. The stock’s 50 day moving average price is $23.45 and its 200-day moving average price is $28.09. LegacyTexas Financial Group has a 52-week low of $17.86 and a 52-week high of $32.50. The company has a market cap of $859.38 million and a P/E ratio of 13.84.
In other LegacyTexas Financial Group news, Director George A. Fisk sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 24th. The stock was sold at an average price of $30.07, for a total transaction of $60,140.00. Following the transaction, the director now owns 349,841 shares of the company’s stock, valued at $10,519,718.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
A number of analysts have weighed in on the company. Stephens lowered LegacyTexas Financial Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, December 9th. Zacks Investment Research upgraded LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 27th. Raymond James reduced their target price on LegacyTexas Financial Group from $34.00 to $29.00 in a research note on Thursday, January 7th. Finally, SunTrust increased their price target on LegacyTexas Financial Group to $33.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.20.
LegacyTexas Financial Group, Inc., formerly ViewPoint Financial Group Inc., is a stock holding company for its wholly owned subsidiary, LegacyTexas Bank. The Company’s principal business consists of 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 owner-occupied, one- to four-family residences and consumer loans. The Warehouse Purchase Program allows mortgage banking company customers to close one- to four-family real estate loans in the own name and manage its cash flow needs until the loans are sold to investors. It offers brokerage services for the purchase and sale of non-deposit investment and insurance products through a third-party brokerage arrangement.
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