LegacyTexas Financial Group (NASDAQ:LTXB) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of LegacyTexas Financial Group (NASDAQ:LTXB) from a sell rating to a hold rating in a research note 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. “

LTXB has been the topic of a number of other reports. Raymond James set a C$80.00 price objective on shares of West Fraser Timber and gave the company a strong-buy rating in a research note on Tuesday, June 18th. Piper Jaffray Companies reduced their price objective on shares of Cactus from $42.00 to $34.00 and set an overweight rating on the stock in a research note on Tuesday, June 18th. BidaskClub cut shares of Zebra Technologies from a hold rating to a sell rating in a research note on Friday, May 24th. SunTrust Banks cut shares of LegacyTexas Financial Group from a buy rating to a hold rating and reduced their price objective for the company from $43.00 to $39.05 in a research note on Tuesday, June 18th. Finally, DA Davidson cut shares of LegacyTexas Financial Group from a buy rating to a neutral rating and set a $43.00 price objective on the stock. in a research note on Monday, June 17th. Ten analysts have rated the stock with a hold rating, The stock presently has an average rating of Hold and an average target price of $42.79.



LTXB opened at $42.01 on Thursday. LegacyTexas Financial Group has a one year low of $30.18 and a one year high of $47.18. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.14 and a quick ratio of 1.13. The firm’s 50 day moving average is $39.27. The company has a market capitalization of $2.05 billion, a PE ratio of 14.49, a P/E/G 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 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $91.06 million for the quarter, compared to the consensus estimate of $94.48 million. During the same period last year, the company earned $0.52 earnings per share. As a group, sell-side analysts anticipate that LegacyTexas Financial Group will post 3.15 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. First Quadrant L P CA bought a new position in shares of LegacyTexas Financial Group during the first quarter worth $107,000. Neuburgh Advisers LLC boosted its position in shares of LegacyTexas Financial Group by 17.2% during the fourth quarter. Neuburgh Advisers LLC now owns 5,664 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 832 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of LegacyTexas Financial Group during the first quarter worth $209,000. Mercer Global Advisors Inc. ADV bought a new position in shares of LegacyTexas Financial Group during the first quarter worth $217,000. Finally, Amalgamated Bank boosted its position in shares of LegacyTexas Financial Group by 30.8% during the fourth quarter. Amalgamated Bank now owns 7,062 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 1,663 shares in the last quarter. 85.18% of the stock is currently owned by hedge funds and other institutional investors.

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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