Equities analysts forecast that LegacyTexas Financial Group, Inc. (NASDAQ:LTXB) will post $90.90 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for LegacyTexas Financial Group’s earnings, with the highest sales estimate coming in at $91.20 million and the lowest estimate coming in at $90.40 million. LegacyTexas Financial Group reported sales of $84.76 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.2%. The business is expected to issue its next quarterly earnings results on Tuesday, October 17th.
On average, analysts expect that LegacyTexas Financial Group will report full year sales of $90.90 million for the current fiscal year, with estimates ranging from $356.20 million to $359.70 million. For the next year, analysts anticipate that the business will report sales of $387.57 million per share, with estimates ranging from $384.00 million to $394.40 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover LegacyTexas Financial Group.
LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. LegacyTexas Financial Group had a net margin of 25.44% and a return on equity of 10.94%. The company had revenue of $88.05 million for the quarter, compared to analysts’ expectations of $87.93 million. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis.
Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods upgraded LegacyTexas Financial Group from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $45.00 to $43.00 in a research note on Thursday, April 20th. Stephens reissued a “hold” rating and set a $42.00 price target on shares of LegacyTexas Financial Group in a report on Wednesday, July 19th. Zacks Investment Research raised LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a report on Friday, July 21st. BidaskClub raised LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $42.00 price target (down from $47.00) on shares of LegacyTexas Financial Group in a report on Saturday, April 22nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $44.20.
In other news, COO Scott A. Almy sold 3,000 shares of LegacyTexas Financial Group stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $36.78, for a total transaction of $110,340.00. Following the sale, the chief operating officer now owns 46,912 shares of the company’s stock, valued at approximately $1,725,423.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anthony J. Levecchio sold 12,000 shares of LegacyTexas Financial Group stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $40.00, for a total value of $480,000.00. Following the sale, the director now directly owns 56,730 shares in the company, valued at approximately $2,269,200. The disclosure for this sale can be found here. Insiders sold a total of 16,321 shares of company stock worth $639,098 over the last three months. 3.30% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in shares of LegacyTexas Financial Group by 239.2% in the first quarter. Advisors Asset Management Inc. now owns 11,747 shares of the financial services provider’s stock valued at $469,000 after buying an additional 8,284 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of LegacyTexas Financial Group by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the financial services provider’s stock valued at $678,000 after buying an additional 300 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of LegacyTexas Financial Group by 3.9% in the first quarter. Bank of New York Mellon Corp now owns 594,836 shares of the financial services provider’s stock valued at $23,734,000 after buying an additional 22,581 shares in the last quarter. CFO4Life Group LLC bought a new stake in shares of LegacyTexas Financial Group during the first quarter valued at approximately $2,385,000. Finally, Bank of America Corp DE raised its stake in shares of LegacyTexas Financial Group by 75.1% in the first quarter. Bank of America Corp DE now owns 242,652 shares of the financial services provider’s stock valued at $9,681,000 after buying an additional 104,050 shares in the last quarter. 81.07% of the stock is currently owned by institutional investors.
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Shares of LegacyTexas Financial Group (NASDAQ:LTXB) opened at 38.68 on Friday. LegacyTexas Financial Group has a 12-month low of $27.86 and a 12-month high of $44.94. The firm has a market cap of $1.80 billion, a PE ratio of 18.61 and a beta of 1.15. The firm’s 50-day moving average is $38.11 and its 200-day moving average is $39.15.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, July 27th. LegacyTexas Financial Group’s payout ratio is 28.71%.
LegacyTexas Financial Group Company Profile
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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