LegacyTexas Financial Group (NASDAQ:LTXB) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of LegacyTexas Financial Group (NASDAQ:LTXB) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning, 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 research reports. DA Davidson downgraded shares of LegacyTexas Financial Group from a buy rating to a neutral rating and set a $43.00 target price on the stock. in a research report on Monday, June 17th. Sandler O’Neill downgraded shares of LegacyTexas Financial Group from a buy rating to a hold rating and cut their target price for the company from $43.00 to $42.00 in a research report on Tuesday, June 18th. Raymond James downgraded shares of LegacyTexas Financial Group from an outperform rating to a market perform rating and raised their target price for the company from $38.88 to $41.78 in a research report on Tuesday, June 18th. SunTrust Banks downgraded shares of LegacyTexas Financial Group from a buy rating to a hold rating and cut their target price for the company from $43.00 to $39.05 in a research report on Tuesday, June 18th. Finally, Piper Jaffray Companies downgraded shares of LegacyTexas Financial Group from an overweight rating to a neutral rating and cut their target price for the company from $45.50 to $43.50 in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $42.33.

NASDAQ LTXB opened at $43.17 on Tuesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.21 and a current ratio of 1.22. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 14.89 and a beta of 1.54. The company’s 50-day simple moving average is $42.02 and its two-hundred day simple moving average is $40.40. LegacyTexas Financial Group has a one year low of $30.18 and a one year high of $44.22.

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

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

Institutional investors have recently modified their holdings of the company. Quantamental Technologies LLC purchased a new position in shares of LegacyTexas Financial Group in the 2nd quarter worth approximately $122,000. Cubist Systematic Strategies LLC acquired a new stake in LegacyTexas Financial Group in the 2nd quarter worth approximately $223,000. CWM LLC acquired a new stake in LegacyTexas Financial Group in the 2nd quarter worth approximately $254,000. Gamco Investors INC. ET AL acquired a new stake in LegacyTexas Financial Group in the 2nd quarter worth approximately $301,000. Finally, AlphaCrest Capital Management LLC acquired a new stake in LegacyTexas Financial Group in the 1st quarter worth approximately $318,000. 82.55% 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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Analyst Recommendations for LegacyTexas Financial Group (NASDAQ:LTXB)

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