LegacyTexas Financial Group Inc (NASDAQ:LTXB) – Equities researchers at SunTrust Banks lifted their Q3 2018 earnings per share (EPS) estimates for shares of LegacyTexas Financial Group in a research note issued on Monday, according to Zacks Investment Research. SunTrust Banks analyst M. Young now forecasts that the financial services provider will post earnings per share of $0.86 for the quarter, up from their previous estimate of $0.71. SunTrust Banks has a “Buy” rating and a $47.00 price target on the stock. SunTrust Banks also issued estimates for LegacyTexas Financial Group’s Q4 2018 earnings at $0.82 EPS, FY2018 earnings at $3.24 EPS and FY2019 earnings at $3.60 EPS.
LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.61 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $91.10 million during the quarter, compared to analyst estimates of $91.51 million. LegacyTexas Financial Group had a return on equity of 10.85% and a net margin of 24.77%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS.
LegacyTexas Financial Group (NASDAQ:LTXB) traded down $0.53 on Wednesday, hitting $44.60. The stock had a trading volume of 146,800 shares, compared to its average volume of 214,040. LegacyTexas Financial Group has a 52-week low of $31.50 and a 52-week high of $46.03. The company has a market cap of $2,110.00, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 1.27 and a beta of 1.24. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.19.
In related news, Director George A. Fisk sold 22,500 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $41.00, for a total value of $922,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg Wilkinson sold 5,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $43.00, for a total value of $215,000.00. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $2,082,500 in the last quarter. 3.10% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of LTXB. Balyasny Asset Management LLC purchased a new position in shares of LegacyTexas Financial Group during the second quarter worth $10,648,000. Phocas Financial Corp. purchased a new position in LegacyTexas Financial Group in the second quarter valued at $9,212,000. Wells Fargo & Company MN boosted its holdings in LegacyTexas Financial Group by 33.3% in the second quarter. Wells Fargo & Company MN now owns 755,477 shares of the financial services provider’s stock valued at $28,807,000 after purchasing an additional 188,910 shares during the period. Westwood Holdings Group Inc. boosted its holdings in LegacyTexas Financial Group by 46.3% in the second quarter. Westwood Holdings Group Inc. now owns 528,607 shares of the financial services provider’s stock valued at $20,156,000 after purchasing an additional 167,230 shares during the period. Finally, State Street Corp boosted its holdings in LegacyTexas Financial Group by 6.5% in the second quarter. State Street Corp now owns 1,551,238 shares of the financial services provider’s stock valued at $59,150,000 after purchasing an additional 94,017 shares during the period. 84.42% of the stock is owned by hedge funds and other institutional investors.
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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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