LegacyTexas Financial Group (NASDAQ:LTXB) Sees Large Volume Increase

LegacyTexas Financial Group Inc (NASDAQ:LTXB) shares saw strong trading volume on Tuesday . 1,019,032 shares traded hands during mid-day trading, an increase of 183% from the previous session’s volume of 360,010 shares.The stock last traded at $43.43 and had previously closed at $43.19.

Several analysts have issued reports on the stock. Piper Jaffray Companies downgraded shares of LegacyTexas Financial Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $45.50 to $43.50 in a research report on Tuesday, June 18th. Sandler O’Neill downgraded shares of LegacyTexas Financial Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $43.00 to $42.00 in a research report on Tuesday, June 18th. BidaskClub raised shares of LegacyTexas Financial Group from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Zacks Investment Research downgraded shares of LegacyTexas Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. Finally, DA Davidson downgraded shares of LegacyTexas Financial Group from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $42.33.

The company has a debt-to-equity ratio of 1.33, a current ratio of 1.22 and a quick ratio of 1.21. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 14.98 and a beta of 1.54. The business’s 50-day moving average price is $42.32 and its two-hundred day moving average price is $40.55.

LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.19). LegacyTexas Financial Group had a return on equity of 13.08% and a net margin of 32.39%. The company had revenue of $97.79 million for the quarter, compared to analyst estimates of $99.13 million. Equities analysts predict that LegacyTexas Financial Group Inc will post 3.05 earnings per share for the current fiscal year.

In other LegacyTexas Financial Group news, COO Scott A. Almy sold 1,416 shares of LegacyTexas Financial Group stock in a transaction on Friday, July 26th. The shares were sold at an average price of $42.88, for a total value of $60,718.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles D. Eikenberg sold 1,821 shares of LegacyTexas Financial Group stock in a transaction on Friday, July 26th. The stock was sold at an average price of $42.88, for a total transaction of $78,084.48. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in LegacyTexas Financial Group by 7.7% in the second quarter. Swiss National Bank now owns 90,400 shares of the financial services provider’s stock worth $3,680,000 after purchasing an additional 6,500 shares during the period. Bank of America Corp DE boosted its holdings in LegacyTexas Financial Group by 34.9% in the second quarter. Bank of America Corp DE now owns 259,121 shares of the financial services provider’s stock worth $10,549,000 after purchasing an additional 67,107 shares during the period. DLD Asset Management LP acquired a new position in LegacyTexas Financial Group in the second quarter worth $1,614,000. Water Island Capital LLC acquired a new position in LegacyTexas Financial Group in the second quarter worth $8,167,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in LegacyTexas Financial Group by 7.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 300,732 shares of the financial services provider’s stock worth $12,243,000 after purchasing an additional 20,432 shares during the period. 82.62% of the stock is owned by hedge funds and other institutional investors.

About LegacyTexas Financial Group (NASDAQ:LTXB)

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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