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

Several other research firms also recently weighed in on LTXB. SunTrust Banks downgraded 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. Piper Jaffray Companies downgraded 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. BidaskClub downgraded LegacyTexas Financial Group from a buy rating to a hold rating in a research report on Friday, August 9th. Sandler O’Neill downgraded 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. Finally, DA Davidson downgraded 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $42.33.

NASDAQ:LTXB traded up $0.63 during trading hours on Tuesday, reaching $43.84. The stock had a trading volume of 27,346 shares, compared to its average volume of 225,280. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.21 and a current ratio of 1.22. LegacyTexas Financial Group has a 52 week low of $30.18 and a 52 week high of $46.72. The company has a 50 day moving average price of $40.79 and a two-hundred day moving average price of $39.90. The stock has a market capitalization of $2.07 billion, a PE ratio of 15.10, a PEG ratio of 1.38 and a beta of 1.56.

LegacyTexas Financial Group (NASDAQ:LTXB) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $97.79 million during the quarter, compared to the consensus estimate of $99.13 million. Equities research analysts predict that LegacyTexas Financial Group will post 3.08 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Friday, August 2nd. LegacyTexas Financial Group’s dividend payout ratio is currently 34.48%.

In other LegacyTexas Financial Group news, EVP Charles D. Eikenberg sold 1,821 shares of the company’s stock in a transaction on Friday, July 26th. The stock was 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 available at the SEC website. Also, COO Scott A. Almy sold 1,416 shares of the company’s 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 disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund grew its position in LegacyTexas Financial Group by 1.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 17,772 shares of the financial services provider’s stock valued at $723,000 after acquiring an additional 300 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of LegacyTexas Financial Group by 3.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 9,887 shares of the financial services provider’s stock worth $402,000 after buying an additional 335 shares during the period. Mason Street Advisors LLC lifted its holdings in shares of LegacyTexas Financial Group by 3.5% in the 1st quarter. Mason Street Advisors LLC now owns 14,505 shares of the financial services provider’s stock worth $542,000 after buying an additional 496 shares during the period. Arizona State Retirement System lifted its holdings in shares of LegacyTexas Financial Group by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 70,262 shares of the financial services provider’s stock worth $2,860,000 after buying an additional 588 shares during the period. Finally, Piedmont Investment Advisors Inc. lifted its holdings in shares of LegacyTexas Financial Group by 5.9% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 11,411 shares of the financial services provider’s stock worth $427,000 after buying an additional 633 shares during the period. 83.10% of the stock is currently owned by institutional investors.

About LegacyTexas Financial Group

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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