LegacyTexas Financial Group (NASDAQ:LTXB) Lifted to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of LegacyTexas Financial Group (NASDAQ:LTXB) from a sell rating to a hold rating in a research report released on Thursday, Zacks.com reports.

According to Zacks, “LegacyTexas Financial Group, Inc. is a bank holding company. The company’s holdings include LegacyTexas Bank. The Bank offers commercial, small business, and consumer deposit and lending products, title and insurance services through its bank subsidiaries, LegacyTexas Title and LegacyTexas Insurance. It also offers brokerage services for the purchase and sale of non-deposit investment products. LegacyTexas Financial Group, Inc., formerly known as ViewPoint Financial Group, Inc., is based in Plano, Texas. “

Other equities research analysts have also recently issued reports about the stock. SunTrust Banks cut shares of LegacyTexas Financial Group from a buy rating to a hold rating and decreased their price target for the company from $43.00 to $39.05 in a report on Tuesday, June 18th. Sandler O’Neill cut shares of LegacyTexas Financial Group from a buy rating to a hold rating and decreased their price target for the company from $43.00 to $42.00 in a report on Tuesday, June 18th. BidaskClub cut shares of Zebra Technologies from a hold rating to a sell rating in a report on Friday, May 24th. Piper Jaffray Companies decreased their price target on shares of Cactus from $42.00 to $34.00 and set an overweight rating for the company in a report on Tuesday, June 18th. Finally, ValuEngine cut shares of Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Ten investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of Hold and an average price target of $42.79.

LTXB stock opened at $42.01 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.14 and a quick ratio of 1.13. LegacyTexas Financial Group has a 52-week low of $30.18 and a 52-week high of $47.18. The company’s 50-day moving average price is $39.27. The company has a market capitalization of $2.05 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.33 and a beta of 1.55.

LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.12). LegacyTexas Financial Group had a net margin of 33.36% and a return on equity of 13.43%. The firm had revenue of $91.06 million for the quarter, compared to the consensus estimate of $94.48 million. During the same quarter last year, the company earned $0.52 earnings per share. On average, equities analysts forecast that LegacyTexas Financial Group will post 3.15 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace North America L.P. acquired a new position in shares of LegacyTexas Financial Group during the first quarter valued at about $583,000. Marshall Wace LLP acquired a new position in shares of LegacyTexas Financial Group during the first quarter valued at about $2,179,000. Westwood Holdings Group Inc. raised its position in shares of 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 valued at $31,512,000 after buying an additional 178,237 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new position in shares of LegacyTexas Financial Group during the first quarter valued at about $318,000. Finally, Piedmont Investment Advisors Inc. raised its position in shares of 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 valued at $427,000 after buying an additional 633 shares during the last quarter. 85.18% of the stock is owned by institutional investors and hedge funds.

About LegacyTexas Financial Group

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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