LegacyTexas Financial Group Inc (NASDAQ:LTXB) Expected to Post Earnings of $0.87 Per Share

Wall Street brokerages expect LegacyTexas Financial Group Inc (NASDAQ:LTXB) to post earnings of $0.87 per share for the current quarter, Zacks reports. Four analysts have issued estimates for LegacyTexas Financial Group’s earnings. The highest EPS estimate is $0.93 and the lowest is $0.84. LegacyTexas Financial Group reported earnings per share of $0.90 in the same quarter last year, which indicates a negative year over year growth rate of 3.3%. The business is scheduled to announce its next earnings results on Tuesday, October 15th.

On average, analysts expect that LegacyTexas Financial Group will report full-year earnings of $3.06 per share for the current fiscal year, with EPS estimates ranging from $2.88 to $3.34. For the next financial year, analysts forecast that the company will post earnings of $3.36 per share, with EPS estimates ranging from $3.16 to $3.50. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for LegacyTexas Financial Group.

LTXB has been the topic of a number of research reports. SunTrust Banks lowered LegacyTexas Financial Group from a “buy” rating to a “hold” rating and cut their price target for the company from $43.00 to $39.05 in a report on Tuesday, June 18th. ValuEngine upgraded LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded LegacyTexas Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. BidaskClub lowered LegacyTexas Financial Group from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, Piper Jaffray Companies lowered LegacyTexas Financial Group from an “overweight” rating to a “neutral” rating and cut their price target for the company from $45.50 to $43.50 in a report on Tuesday, June 18th. Nine equities research analysts have rated the stock with a hold rating, LegacyTexas Financial Group has a consensus rating of “Hold” and an average price target of $42.33.

NASDAQ:LTXB traded down $0.97 on Friday, reaching $39.14. The company’s stock had a trading volume of 226,610 shares, compared to its average volume of 283,558. LegacyTexas Financial Group has a 1-year low of $30.18 and a 1-year high of $47.18. 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 firm has a market cap of $1.96 billion, a PE ratio of 13.50, a PEG ratio of 1.31 and a beta of 1.54. The business’s 50-day moving average price is $41.32 and its two-hundred day moving average price is $40.04.

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were issued a $0.25 dividend. The ex-dividend date was Friday, August 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.55%. LegacyTexas Financial Group’s dividend payout ratio (DPR) is 34.48%.

In related news, COO Scott A. Almy sold 1,416 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $42.88, for a total transaction of $60,718.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles D. Eikenberg sold 1,821 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $42.88, for a total value of $78,084.48. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in LegacyTexas Financial Group by 1.3% during the second quarter. BlackRock Inc. now owns 6,835,405 shares of the financial services provider’s stock worth $278,269,000 after buying an additional 85,415 shares in the last quarter. Magnetar Financial LLC acquired a new stake in LegacyTexas Financial Group during the second quarter worth approximately $35,619,000. UBS Group AG grew its position in LegacyTexas Financial Group by 95,766.6% during the second quarter. UBS Group AG now owns 1,007,558 shares of the financial services provider’s stock worth $41,018,000 after buying an additional 1,006,507 shares in the last quarter. Cowen Inc. acquired a new stake in LegacyTexas Financial Group during the second quarter worth approximately $1,953,000. Finally, Susquehanna International Group LLP acquired a new stake in LegacyTexas Financial Group during the second quarter worth approximately $687,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

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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Earnings History and Estimates for LegacyTexas Financial Group (NASDAQ:LTXB)

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